CVS Pharmacy
Full CVS Health Corporation Guaranty | Absolute NNN Ground Lease | 25+ Year Operating History
Marketing description
Northmarq, on behalf of ownership, is pleased to present the opportunity to acquire the fee simple interest in the ground of the CVS Pharmacy located at 106 Boston Road in Groton, Massachusetts (the “Property”). A build-to-suit store in 1999, CVS has been at this location for more than 25 years, which includes exercising the first of five, ten-year renewals in 2021. Their Absolute NNN lease has zero landlord responsibility with no rent holiday and, in fact, features 8% rent bumps every five years through each of the remaining four, ten-year option periods – accelerated rent growth compared to many drugstore leases.
Investment highlights
• BEST-IN-CLASS, INVESTMENT-GRADE, PUBLIC GUARANTOR
• HIGHLY ATTRACTIVE BTS ASSET
• RECENTLY EXERCISED RENEWAL OPTION
• HIGHLY PASSIVE, ABSOLUTE NNN GROUND LEASE
• GREATER THAN MARKET CONTRACTUAL RENT GROWTH
• LOW RENT/LOW PRICE POINT IN TIGHT SUBMARKET
• LARGE PARCEL CREATES HIGH RESIDUAL VALUE
• LIMITED COMPETITION
• SYNERGISTIC LOCATION
• EXCELLENT ACCESS & VISIBILITY ON STATE HIGHWAY
• AFFLUENT MARKET, 45 MINUTES FROM BOSTON
• HIGH BARRIER-TO-ENTRY MARKET
• MASSACHUSETTS INVESTMENT OPPORTUNITY
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