properties for sale 1 1901 s hoover st , los angeles , ca ... · the subject property is a 13,054...

Prepared for 4/23/2018

(760) [email protected]

Properties for Sale

Presented by Christian MarabellaMarabella Commercial Finance, Inc

Price $11,700,000

Gross Leasable Area 16,454 SF

Cap Rate 3.55%

Status Active

Property Notes

Call, text or email Christian Marabella to put in an offer onthisproperty at (760) 803-6464 and [email protected]

1 1901 S Hoover St, Los Angeles, CA 90007

Sale Notes

Brand new 25-year Ground Lease. Los Angeles Core locationVery high-density trade area: 70,000 1-mile and 623,000 3-mile population.Extremely rare urban infill prototypical CVS with on-grade parking.Signalized hard-corner position on a large (approx.) 65,000 sf land parcel.Brand new 25-year ground lease (fee interest) w/CVS/Caremark Corporate guarantee.Investment Grade Credit B1.Located at two major traffic arterials (Approx., 65,000 TPD) in a primary trade area, under served by daily needs retailers.One block north of the I-10 Santa Monica Freeway with full ramp access to downtown freeways.Primary trade area includes Koreatown with tremendous growth from new and under-construction apartments and mixed-use projects.

Property Description

Located between Downtown and Koreatown adjacent to the Wilshire Business District and University Southern California Campus, Pico-Union is one of the topfour most dense submarkets in Los Angeles. The population in Los Angeles is projected to grow 38% (Bloomberg) between 2017 and 2025 with the greaterLos Angeles area including Pico-Union being the densest urban area in the US. This projected growth is evident by the current market rate and affordableapartment projects recently completed and under construction (see attached Exhibit of a sampling of these new multi-family projects, page 15). Pico-Union andKoreatown has very low per capita retail daily needs and services and the businesses that are fortunate enough to operate in the trade area are typicallyunder-sized with old format operations, further highlighting this rare Investment opportunity.

Price $9,465,000


Cap Rate 4.75%

Property Sub-type Drug Store

Status Active

Property Notes


2 150 E Illinois Ave, Dallas, TX 75216

Sale Notes

The subject property is a 13,054 square foot CVS located in Dallas, Texas. CVS signed a 25 year lease which commenced in October 2016, leaving 23.75years remaining on the Tenant’s initial lease term. No rent holiday.


NO RENT HOLIDAYThe subject property is a 13,054 square foot CVS located in Dallas, Texas. CVS signed a 25 year lease which commenced in October 2016, leaving 23.75years remaining on the Tenant’s initial lease term.

The lease provides for 10% rent increases between each of the six, 5-year renewal options. The lease is absolute net providing for zero landlordresponsibilities. CVS, which is publicly traded on the New York Stock Exchange under the ticker symbol “CVS”, has a current BBB+ credit rating by Standard &Poor’s and reported annual revenues in excess of $184 billion in 2017.

The property is situated adjacent to Oak Cliff, which is one of Dallas’s most established and densely populated neighborhoods, with over 149,000 residents in athree mile radius and just 5 miles south of downtown Dallas. The site is ideally positioned at the signalized intersection of East Illinois Avenue and SouthBeckley Avenue, and benefits from its visibility along the areas main traffic artery with combined traffic counts in excess of 43,750 vehicles per day. The sitealso benefits from its close proximity (two blocks) from Interstate 35, which is the main thoroughfare leading into downtown Dallas experiencing daily trafficcounts in excess of 182,590.

CVS is located less than a half mile from Wynnewood Village, a 443,681 square foot regional shopping center anchored by Kroger, Ross Dress for Less,Fallas Paredes, Dollar Tree and many more. Wynnewood Village is one of the oldest shopping centers in Dallas, and serves a large segment of Oak Cliff andSothern Dallas. Brixmor property Group, who is the current landlord and one of the nation’s largest owners of open-air shopping centers is in the process ofcompletely redeveloping the 65 acre shopping center with an estimated project cost of $30 million. Other national retailers in the immediate area include O’ReillyAuto, 7-11, Aldi, McDonalds, AutoZone and numerous others.

Price $16,130,000


Cap Rate 4.65%


Status Active

Property Notes


3 10660 SW 40th St, Miami, FL 33165

Sale Notes

Marcus & Millichap is pleased to present the new CVS ground lease in Miami, Florida. Built in 2017, CVS has signed a 25-year NNN ground lease and alsosubleases a portion of the lot to Wendy's increasing profitability and consumer traffic. The store recently opened in September 2017.

Price $8,705,000


Cap Rate 5.00%


Status Active

Property Notes


4 7031 Marbach Rd, San Antonio, TX 78227


Great CVS location on the northeast corner of Marbach Road (16,665 cars per day) and West Military Drive (24,400 cars per day) approximately 12 milessouthwest of downtown San Antonio. The property is strategically located in proximity to numerous major thoroughfares including Interstate 410 to the west,State Highway 151 to the north, and U.S. Highway 90 to the south.

With a Walgreens operating across the street, it’s clear this is a prime strategic location for CVS. Notable retailers at or near this intersection include Chevron,Family Dollar, Little Caesars Pizza, Dairy Queen, Domino’s Pizza, and O’Reilly Auto Parts. In addition to retailers, several sizable schools near the subjectproperty result in a high volume of customer traffic. Approximately half a mile west is John Jay High School (2,900 students), which also contains a magnetschool, the John Jay Science and Engineering Academy (750 students). Less than a mile northeast of the property is Anson Jones Middle School.

Price $5,773,254



Status Active

Property Notes


5 10460 Norris Ferry Rd, Shreveport, LA 71106

Sale Notes

Stan Johnson Company is pleased to offer for sale a brand new Zero Cash Flow property tenanted by CVS Pharmacy.

The property is subject to a 25-year primary operating agreement on an absolute NNN lease and was built in 2016 specifically for CVS; meeting all theiroperating standards. The average income within 5 miles is nearly $103,689, and this investment is fully capable of the Paydown / Readvance financialstructure.

For over 50 years, CVS Pharmacy has served millions of customers products and services geared towards a healthy lifestyle. In addition to their pharmacies,their stores feature on-trend beauty departments, photo labs and general merchandise. CVS Pharmacy has more than 9,600 retail drug stores in 49 states, theDistrict of Columbia, Puerto Rico, and Brazil. CVS currently holds a Standard & Poor' s credit rating of BBB+/Stable.

Located in Shreveport, LA

Price $6,549,212



Status Active

Property Notes


6 309 Nashua St, Milford, NH 03055

Sale Notes




Located in Milford, NH

Price Price Not Disclosed



Status Active

Property Notes


7 101 N Main St, Belle Glade, FL 33430

Sale Notes


The property is subject to a 25-year primary operating agreement on an absolute NNN lease and was built in 2016 specifically for CVS; meeting all theiroperating standards. The average income within 5 miles is nearly $44,655, and this investment is fully capable of the Paydown / Readvance financial structure.


Located in Bell Glade, FL

Price $5,779,532



Status Active

Property Notes


8 312 Fayette St, Manlius, NY 13104

Sale Notes




Located in Manlius, NY

Price $5,372,000


Cap Rate 5.10%


Status Active

Property Notes


9 1300 US-290 E, Elgin, TX 78621

Sale Notes

Marcus & Millichap is pleased to present a CVS/Pharmacy located in Elgin, Texas, part of the greater Austin metropolitan area. The City of Elgin is located 30minutes east of Downtown Austin. The property is situated on a 1.09-acre lot with a Gross Leasable Area (GLA) of 13,223 square feet. The property iscomprised of a single-story building with a drive-through, 52 on-site parking spaces and positioned at the three-way, signalized intersection of US Route 290and Texas State Road 95. CVS/Pharmacy is on a Triple-Net (NNN), corporately guaranteed lease with over 22 years remaining (expiration January 2040), and 10, five-year extension options (last eight options are at 100% of FMV (Fair Market Value)). The lease is guaranteed by CVSHealth Corporation, the 7th largest company in the Fortune 500 index with an S&P credit rating of BBB+ and revenues of $177.5 billion for fiscal year 2016.

This CVS/Pharmacy is located on US Highway 290, an East-West highway lined with national retailers, that in 2016 had a traffic count of 28,800 vehicles perday. The property is in an area with a population 42,000 people living within a 10-mile radius and an average household income of just under $72,000. Majortenants in close proximity of the subject property include: Walmart Supercenter, H-E-B Grocery Store, First National Bank, Frontier Bank, Little Caesars, Sonic,and AutoZone, among others. The City of Elgin has gained a national reputation as the Brick Capital of the Southwest and Sausage Capital of Texas. Three-brick companies still operate in Elgin and two local companies produce over three million pounds of sausage annually. One of the companies, Southside Marketand BBQ Inc., is located adjacent to this CVS/Pharmacy, helping drive traffic to the site. Elgin, Texas, is accessible via US Highway 290, State Highway 95, andis located less than 30 minutes from Austin-Bergstrom International Airport, serviced by American, British Airways, Delta, JetBlue Airways, and SouthwestAirlines, among others.

Price $8,196,190


Cap Rate 5.25%


Status Active

Property Notes


10 10983 W 146th St, Westfield, IN 46074

Sale Notes

The Net Lease Group exclusively present the opportunity to acquire a new 12,900 SF build-to-suit CVS situated on a corner lot consisting of approximately1.92+/- acres along Ditch and 146th Street in Westfield, IN. The lease is guaranteed by CVS Caremark Corporation (S&P BBB+) and structured as a double net(NN) 25-year lease with five (5) five-year renewal options. The Landlord is responsible for repairs and maintenance of the roof, foundation, structure,plumbing / utilities lines, and parking lot capex. The property is currently under construction with an anticipated delivery of January 2018. The CVS will feature adrive-thru and 24-hour service.

The offering consists of a fee simple interest in a 12,900 SF, corner lot consisting of 1.92+/- acres with a new 25-year lease guaranteed by CVS CaremarkCorporation (S&P BBB+), which provides an investor with the opportunity to own an institutional asset 100% lease to an investment grade company.


The newly constructed 12,900 SF CVS building sits on a 1.92+/- acre corner lot located on the Northeast corner of Ditch Rd and 146th Street in Westfield, IN.Ditch Rd is a major north / south arterial and connects with I-465, which encircles the city of Indianapolis and 146th is a major east/west arterial connecting theSubject to the primary commercial corridor of Westfield / Carmel. The property is located approximately 18 miles north of downtown Indianapolis and located inHamilton County, the most affluent county in Indiana.

The Subject is located due west of the primary retail/commercial corridor in Westfield. Notable national retailers include Target, Walmart, Lowe’s, Best Buy,Kroger, Whole Foods, The Fresh Market, Aldi, Kohl’s, Office Max, LA Fitness, Stein Mart, and PetSmart. Restaurants include Starbucks, Dunkin’ Donuts,Applebee’s, Buffalo Wild Wings, Chili’s, Ted’s Montana Grill, Chipotle, Arby’s, Five Guys, and Red Robin. The neighboring city of Carmel, IN is very active withmedical and health institutions. Carmel has over 50 medical locations. Most notable of these locations is Indiana University Health North Hospital.

The Subject adjoins the newly developed master planned community known as Harmony. The master planned community consists of 275-acres and uponcompletion is expected to have 650 single-family homes priced from $275,000 - $450,000, 275 apartments, and 170,000 SF of retail space.

CVS chose this location for a new build-to-suit due to continued growth of the area and strong demographics within a 3-mile radius of 52,000 people with anaverage household income exceeding $144,000 annually.

Price $5,175,000


Cap Rate 4.85%


Status Active

Property Notes


11 13180 Midlothian Tpke, Midlothian, VA 23113

Sale Notes

Marcus & Millichap is pleased to present for sale a freestanding CVS/Pharmacy located at 13180 Midlothian Turnpike in Midlothian, Virginia. The subject propertyis approximately 10,128 square feet with a drive-thru pharmacy, and sits on a 1.23-acre lot with 39 parking spaces. This CVS/Pharmacy lease has just over 22years remaining (expiration of 2040) and is corporately guaranteed by CVS Caremark Corporation (now known as CVS Health Corporation). CVS has occupiedthis location since 1999. The lease was amended in 2014 and the expiration of the term was extended through 2040 with ûve, 5-year renewal options. Therent will remain ûat through the base term and then increase by 10% in each of the ûrst two option periods (FMV for the remaining three options). The landlordis responsible for the maintenance of roof & structure, making this a double-net (NN) lease. CVS Health Corporation is the 7th largest company in the Fortune500 index with an S&P credit rating of BBB+ and revenues of $177.5 billion for ûscal year 2016.

CVS/Pharmacy is located along Midlothian Turnpike (41,000 Vehicles Per Day (VPD)). The property sits on an outparcel within the Village Marketplace ShoppingCenter that is tenanted with a mix of local and national retailers that include Food Lion, McDonald' s, H&R Block, Subway, and others. The subject property issurrounded by major retailers which include Walmart, Petco, Bank of America, Wells Fargo, Starbucks, Chick-Fil-A, Costco, and many others. The property isalso in close proximity to eight various elementary, middle, and high schools as well as John Tyler Community College (total enrollment: 14,135). The property isin an area with a population of over 102,000 people living within a ûve-mile radius with an average household income of over $114,000. This CVS/Pharmacyprovides an opportunity for qualiûed investors to purchase a management free asset, tenanted by one of the largest pharmacy store chains in the nation,located on a heavily trafûcked intersection of a proven retail corridor. tenanted by one of the largest pharmacy store chains in the nation, located in the capitalof Virginia.

Price $4,432,990


Cap Rate 4.85%


Status Active

Property Notes


12 694 N Highway 67, Florissant, MO 63031

Sale Notes

The Boulder Group is pleased to exclusively market for sale a single tenant CVS Pharmacy ground lease located within the St. Louis Metropolitan Area. TheCVS Pharmacy is located within a densely populated area of St. Louis County. The property is located along Lindbergh Boulevard which is a primary north-south thoroughfare in St. Louis County. The new twenty-five year CVS Pharmacy ground lease expires in January 2042.

The 1.49 acre property is strategically positioned just south of the signalized intersection of Lindbergh Boulevard and St. Denis Street. Lindbergh Boulevard is aprimary north-south thoroughfare in St. Louis County that experiences traffic counts in excess of 52,750 vehicles per day. The CVS Pharmacy property islocated less than two miles north of Interstate 270 which experiences traffic counts in excess of 126,000 vehicles per day. The CVS Pharmacy will greatly outposition a 24-hour Walgreens which is located immediately to the south and is an inline location. This is a strategic location for CVS as there are no other CVSPharmacy in the immediate trade area. The surrounding area is densely populated with approximately 100,000 people living within a three mile radius of theproperty. Lambert-St. Louis International Airport, the primary airport serving the St. Louis Metropolitan Area, is located approximately five-miles south of theproperty. Retailers located in the trade area include Target, Home Depot, Lowe' s, ALDI, Dierbergs Grocery Store, Schnucks Grocery Store, PNC Bank, Bank ofAmerica and many other national and local retailers.

Price $10,800,000


Cap Rate 4.25%

Property Sub-type Freestanding

Status Active

Property Notes


13 1910 Crain Hwy, Bowie, MD 20716

Sale Notes

Recently constructed, unlevered CVS store located in Bowie, MD. The property is offered free and clear of debt. The property has a new 25-year triple-netlease in place with no landlord responsibilities and no rent holiday.

Located in Bowie, MD on Crain Highway

properties for sale 1 1901 s hoover st , los angeles , ca ... · the subject property is a 13,054...

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