Tag: CVS

Newly Built CVS Sells for $5.25M in Elkridge, MD

Calkain’s Hipp and Bogart Co-Broker the Sale of CVS Net Leased Asset in a 1031 Exchange

Herndon, VA –  Calkain recently brought to market and sold the CVS net leased asset located at 7650 Port Capital Drive in Elkridge, MD.  The newly built CVS opened in August and has a 25 year lease term with five, 5-year options.  Jonathan Hipp, President and CEO of Calkain, represented the seller and achieved a $5.25M sales price with a 4.95% cap rate.…

Traci BidingerNewly Built CVS Sells for $5.25M in Elkridge, MD

Drug Store Retailers Remain Steady

GlobeSt.com

CVS and Walgreens are in a constant battle for the biggest share of the market. CVS acquired Omnicare and Target’s pharmacies last year and Walgreens is in the process of acquiring Rite Aid by the end of this year. Both, in total, dominate the Drug Store industry. A recent Cap Rate Report released by Calkain shows quarter-by-quarter average national cap rates.

Q4 2015 cap rates stayed in the high 5% range for both pharmacies. Walgreens showed a stable uptick in cap rate for Q1 2016 with an average of 5.68%. The slight increase is a result of REITs maturing and …

Traci BidingerDrug Store Retailers Remain Steady

Calkain Companies Sells South Florida CVS for 4.67% Cap Rate

Fort Lauderdale, FL – Calkain’s South Florida office recently brokered the sale of a NNN CVS Ground Lease in Plantation (Fort Lauderdale), FL. Patrick Nutt, Managing Partner, Doug Aronson, Director, and Scott Campbell, Associate Director, represented the seller.

The team generated multiple offers, ultimately selling the property to a 1031 all cash buyer based in New York. The transaction closed at a 4.67% cap rate, representing the desirability of South Florida triple net investments.

Calkain’s national reputation as the leading provider of net lease investments, coupled with the Florida location and strong lease terms of this particular property, offered the

Emily CusmanoCalkain Companies Sells South Florida CVS for 4.67% Cap Rate

‘Doc-In-A-Box’ Operations Give Net Lease A Lift

GlobeSt.com

Drugstores have always been a big part of retail real estate’s net lease sector. After all, Walgreens and CVS have thousands of stores across the country relied on by investors.

Besides these usual suspects, there is also a crop of urgent-care clinics that are becoming increasingly relevant in the net lease world.

Both developments continue to pick up steam and are good news for the sector.

This “doc-in-a-box”, or retail-clinic trend, gives consumers additional reasons to make trips to net-lease properties.

The in-store facilities, which are found in major drugstores and large discounters such as Walmart, average 200 square feet, …

JD Vangsness‘Doc-In-A-Box’ Operations Give Net Lease A Lift