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| CVS Pharmacy, 2513 U.S. Highway 19, Holiday, FL |
TAMPA, FL —Franklin Street announces the sale of a CVS corporate-guaranteed
triple-net lease for $2,610,000. This sale represents $251 per square foot and
is located at 2513 U.S. Highway 19 in Holiday, Fla.
Rafeal Wright, CCIM and Jonathan Graber, CCIM
represented the seller, Holiday Sun Properties LTD LLLP, a Southeast Florida
limited liability partnership. The buyer is a South American Fund with an
office in Miami, Fla.
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| Jonathan Graber |
“We have seen a wave
of foreign investors purchase retail properties throughout the U.S. – a good
amount being from South America,” Wright said. “Seeing Tampa Bay retail as a
safer investment, they have been making their way into our market recently.”
Built in 1996, the
property had a remaining lease term of less than three years.
“Most new drugstores
have 20 to 25 years on their initial lease which gave us initial challenges
finding the right buyer,” Graber said. “However, due to the location and strong
sales history, we were able to sell at 94 percent of our asking price.”
The freestanding CVS
is located on U.S. Highway 19 and Darlington Road in the heart of Holiday, FL.
CVS/Pharmacy has more than 7,400 stores across the U.S. serving more than 60
million plan members.
For a complete
copy of the company’s news release, please contact:
Kelsy Pazur
813-839-7300, ext. 337
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