Sands Investment Group is Pleased to Present For Sale the CVS Pharmacy Ground Lease Located in Bakersfield, California. This Property Has Approximately 12+ Years Remaining on the Base Term of the Lease and Features a Rare 10% Increase in 7.5 Years and 7.5% Increases Every 5 Years Thereafter, Throughout Each of the 5 (5-Year) Option Periods Providing a Strong Hedge Against Inflation. The Building Includes a Double Lane Drive-Thru and Sits as an Out Parcel to a Highly Visited Shopping Center With Adjacent Tenants Including Aldi, Smart & Final, Chick-fil-A, In-N-out, Chipotle, Panda Express, Randy’s Donuts & More. This Location is Open 24 Hours a Day and Benefits From a High Population Base in the Immediate Trade Area in Addition to High Daytime Population From the Significant Density of Office Campuses Located Nearby. CVS is the Largest Pharmacy Provider in the Country By Prescription Revenue and Features an Investment Grade Credit Rating of BBB (S&P Global Ratings). This Investment is Perfect For a 1031 Buyer. This Deal Offers a Long-Term Secure Income Stream, Strong Rental Increases, Investment Grade Credit With a Pandemic and Recession Resistant Tenant.
BEST IN CLASS INVESTMENT FEATURING RARE STRONG RENTAL INCREASES
- Long Term Lease With Approximately 12+ Years Remaining on Base Term
- Corporate Guaranteed Lease Featuring Investment Grade Credit – BBB (S&P Global ) / Baa2 (Moody’s)
- Absolute Triple Net (NNN) Ground Lease Featuring Low Rent on Approximately 2.01 Acre Parcel
- Rare 10% Rental Increase in 7.5 Years and 7.5% Increases Every 5 Years Thereafter Throughout Each of the 5 (5-Year) Option Periods Providing a Hedge Against Inflation
- Double Lane Drive-Thru Prototype Building
DAILY NEEDS & NECESSITY BASED TENANT
- CVS is the Top Drug Store in the Country Based on Prescription Drug Revenue Holding Nearly 25% of the Prescription Drug Market
- Tenant Remained Open and Paying Rent Throughout the COVID-19 Pandemic
- Drug Stores Provide a “Daily Needs” For Consumers Making the Property Pandemic and Recession Resistant
DOMINANT BAKERSFIELD LOCATION
- 2nd Most Travelled Intersection in the City With Over 80,000 Cars Per Day at Stockdale Hwy & California Avenue
- Dense Population Base With Over 342,625 People Within 5-Miles
- Affluent Trade Area – $76,411 Average Household Income Within a 5-Mile Radius
- High Daytime Population From the Significant Density of Office Campuses
- Nearby Employee Population – Over 77,000 People Within a 3-Mile Radius
In Cooperation With Sands Investment Group, Inc Lic. # 01768950
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