Net Leased CVS Sold

The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant CVS located at 1421 State Street in Lawrenceville, Illinois for $1,134,000.

The 10,093 square-foot building benefits from its position at the hard corner of State Street & State Route 1, which experiences daily traffic of 16,800 vehicles. Neighboring retailers include Walmart Supercenter, McDonald’s, Ace Hardware, AutoZone, O’Reilly Auto Parts, Dollar General, and Circle K – all of which drive a continual flow of traffic through the corridor. The subject asset is also within proximity to Lawrence County Memorial Hospital and Lawrenceville High School. The average household income within 7 miles is in excess of $74,000.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is an Illinois based partnership and the buyer is a West Coast based individual investor.

CVS is the nation’s largest drugstore chain, operating 9,900+ locations in 49 states, the District of Columbia, Puerto Rico and Brazil. CVS is a publicly traded company on the New York Stock Exchange (Symbol: CVS) with a market capitalization in excess of $92 billion. CVS is one of the largest corporations in the nation, ranking #4 on the Fortune 500.

“CVS has demonstrated immense commitment to the site with occupancy since 2005.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “This property features one of the lowest absolute rents in the country for a national drug store tenant. Lower rent pharmacy assets generate interest from private investors.”

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