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|Current / Passing Rent||
|Remaining Term||22 years, 6 months|
JLL is pleased to offer for sale the fee-simple interest in a single-tenant CVS Pharmacy in El Centro, California. The property was built in 2017 and is leased to CVS, a leading retail pharmacy chain in the United States. Strategically located on the hard corner of Imperial Avenue and Aurora Drive with no nationally recognized retail pharmacies in a one-mile radius, the property possesses unrivaled market share and excellent exposure along a highly-trafficked thoroughfare.
The property is subject to assumable CTL financing, creating a substantial tax shelter against earned income from other investments. This offering presents a unique opportunity that allows exchange buyers to satisfy equity and debt portions of their exchange and extract excess equity over the required purchase equity without tax liability.
- Long-term absolute triple-net lease
- Ten, 5-year renewal options
- Over 23 years remaining primary lease term
- Zero landlord responsibilities
- Revenue with $195 billion in annual sales and over 9,900 retail locations
- Investment-grade ‘BBB’ credit rating from Standard & Poor’s