Value Add Premier Warehouse Distribution Facility
368,594 SF | 31+ Acres - Somerset
Marketing description
Premier Warehouse Distribution Facility For Sale: 368,594 SF Building on 31+ Acres
Property Overview
The property is a mission-critical regional distribution facility fully leased to CVS Corporation. The asset benefits from long-term tenancy, functional industrial improvements, and substantial land coverage across multiple parcels.
Property
- Property Name/Address: CVS Distribution Center | 322 Revco Road, Somerset, PA 15501
- Property Use: Warehouse Distribution Facility
- Current Tenant: CVS Corporation - Somerset Distribution Center (Investment-Grade Credit)
Site & Land
- Municipality: Somerset County
- Total Land Area: 34.392 acres
- Parcels: 420027270, 420031960, 420083140
- Zoning: Commercial
- Access:
- Located along the PA Turnpike (I-76) at the Somerset exit with easy on and off access
- Approx. 1 hour from Pittsburgh and Altoona; 2 hours from Harrisburg and State College
- Parking:
- Surface parking lots striped for a total of 234 standard spaces located in front of Buildings A and B (asphalt)
- 130 excess trailer spaces located along the eastern elevations of Buildings B and C (asphalt)
Building Description
- Gross/Net Rentable Area: Total of 368,594 SF (three buildings)
- Number of Floors: One-story warehouse with two-story offices
- Construction Type: Reinforced 6” concrete slab on grade with steel framing and metal panels
- Construction Timeline:
- 1968: 106,000 SF
- 1980: 102,000 SF
- 1995: 155,000 SF
- 1998/1999: 5,594 SF
- Building A
- 15 dock-high overhead doors (7’ x 8’); one (1) grade-level door (10’ x 14’)
- Clear height: 24’
- Electrical: 1,600 amps, 480/277V
- Wet pipe ceiling/in-rack sprinkler system
- Building B
- 14 dock-high overhead doors (8’ x 8’)
- Clear height: 30’
- Electrical: 400 amps, 480/277V
- Wet pipe ceiling/in-rack sprinkler system
- 20,000± SF of the warehouse space is air-conditioned for food storage
- Building C
- 10 dock-high overhead doors (8’ x 8’ and 9’ x 10’); one (1) grade-level overhead door (12’ x 16’)
- Clear height: 38’
- Electrical: 1,600 amps, 480/277V
- Wet-pipe ESFR sprinkler system
- Overhead Doors/Docks: Manually operated doors/automatic dock levelers
- Lighting: LED T5
Warehouse & Infrastructure
- Roof System: EPDM membrane roofing and trapezoidal seam metal roof
- HVAC: Split systems, rooftop package units, ceiling-mounted warehouse heaters, and tube heaters
- Backup Power: Three (3) diesel-powered generators
- Fire Protection System: The property includes a 250,000-gallon concrete water reservoir utilized as a buffer supply for the on-site fire sprinkler system. In 2024, the reservoir was fully relined and upgraded with an anti-vortex plate, enhancing operational reliability and long-term performance.
Office
- Buildings A & B: These buildings have office areas with elevator service and men’s and women’s restrooms
Environmental
- Phase I Environmental Site Assessment: Completed in 2025 by a third-party environmental consultant in accordance with ASTM standards. The assessment identified no Recognized Environmental Conditions (RECs).
Investment highlights
Executive Summary
322 Revco Road is fully leased to CVS Pharmacy, an investment-grade tenant, providing secure near-term cash flow through December 31, 2027. Value Add asset with below-market in-place rents, positions the asset for substantial income upside at rollover.
Further value is driven by tenant-funded capital improvements and the conveyance of 4 acres of land at lease expiration, offering enhanced control and long-term redevelopment flexibility. This offering represents a rare opportunity to acquire an institutional-quality distribution asset with durable income and a clear path to value creation.
Tenant & Lease Summary
In-place rent is materially below market, providing meaningful upside at rollover. The lease includes tenant obligations to replace a significant portion of the roof. Additionally, a 3.933 acre excess parking parcel will be conveyed to the landlord at lease expiration, enhancing site control and future optionality.
- Tenant: CVS Pharmacy (Investment-Grade Credit)
- Lease Expiration: December 31, 2027
- Current Rent: $49,600/month, NNN (through September 30, 2026)
- Rent Increase: $59,400/month, NNN (October 1, 2026 - December 31, 2027)
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