Tenant: CVS Pharmacy | Los Angeles, CA Premises: 13,530 SF Renewal Options: 8 Extension Periods of 5 Years Each
Lease Expiration: 1/31/2038 Lease Type: NNN Rental Increases: 10% Every 5 Years in Options
Sands Investment Group is Pleased to Present For Sale the CVS Pharmacy NNN Asset Located in Los Angeles, California. CVS Has Just Under 15 Years Remaining on the Primary Term With Eight (8) By Five (5) Year Options to Extend, and Rare 10% Rental Increases at the Beginning of Each Option Period. The Drive-Thru Equipped Pharmacy is Located on the Signalized Intersection of South Atlantic Boulevard and Whitter Boulevard With a Traffic Count of 48,616 VPD. This Triple Net (NNN) Property With Landlord Responsibilities Limited to Roof and Structure, Making it an Ideal, Low-Management Opportunity For an Investor.
Long-Term Corporate Guaranteed Lease: CVS Has Just Under 15 Years Remaining on the Primary Term With Eight (8) Five (5) Year Options to Extend There Are Rare 10% Rental Increases at the Beginning of Each Option Period, and No Rent Holiday
Triple Net Lease: There Are Minimal Landlord Responsibilities, With the Tenant Responsible For CAM, Taxes and Insurance
CVS Pharmacy is the Largest Drugstore Chain in the United States With More Than 9,900 Stores Across 49 States, the District of Columbia and Puerto Rico
Investment Grade Tenant: (S&P: BBB), CVS Pharmacy Ranks #4 on the Fortune 500 List
High Traffic Location: The Site is Located on the Signalized Intersection of South Atlantic Boulevard and Whittier Boulevard With a Traffic Count of 48,616 VPD and a Walking Score of 95%
Strong Demographics: A Population of 244,040 Within 3-Miles of the Site
Surrounded By a Strong Mix of Local and National Retailers Including: Target, Ross, Nike, Regency Cinemas, Skechers, El Super and Just 1-Mile From the Citadel Outlets, a 700,000 SF Outdoor Shopping Center Housing Global Brands and Restaurants
Centrally Located Between Interstate-5, Interstate-710 and Interstate-60, a Major Los Angeles Commuter Thoroughfare and Just 23-Miles From Los Angeles International Airport (LAX)
The Historical Movie Palace Was the First Building in East Los Angeles to Be Listed in the National Register of Historic Places in 1983 and One of a Handful of Neighborhood Theaters Still Remaining in Southern California
In Cooperation With Sands Investment Group, Inc – Lic. #1768950
CVS Pharmacy is the second largest pharmacy chain in the United States. There are 9,900 CVS Pharmacy locations in the United States. The state with the most number of CVS Pharmacy locations in the US is California, with 1,154 locations, which is 11% of all CVS Pharmacy locations in America. The company was founded in Lowell, Massachusetts and originally named the Consumer Value Store. CVS Pharmacy is currently the largest pharmacy chain in the United States by number of locations and total prescription revenue. As the retail pharmacy division of CVS Health, it ranks as the 12th largest company in the world serving 5 million customers each day. CVS sells prescription drugs and a wide assortment of general merchandise including over-the-counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards, and convenience foods through their CVS Pharmacy and Longs Drugs retail stores. It also provides healthcare services to more than 1,100 MinuteClinic medical clinics in 33 states including the District of Columbia. As a pharmacy innovation company, CVS focuses on charitable giving in ways that will help people on their path to better health by improving health outcomes and building healthier communities. Their in-store fundraising campaigns, in-kind donations and corporate grants provide support for national nonprofit partners that are focused on helping people on their path to better health.