Description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to exclusively offer for sale the fee simple interest in the CVS Pharmacy located at 99 Greenwich Avenue in Greenwich, Connecticut (the "Property" or "Asset"). Positioned on Greenwich Avenue, the premier luxury retail corridor known as the "Rodeo Drive of the East," the Asset offers investors a rare opportunity to acquire trophy real estate within one of America's wealthiest ZIP Codes. The Property is leased to Connecticut CVS Pharmacy, L.L.C. and features approximately 11.1 years of remaining lease term with attractive 10% rent increases every five years, including a scheduled rent escalation in February 2028.

This location is a proven high performer, benefiting from approximately 35 years of continuous operation and consistent sales growth, with average monthly sales increasing more than 22% since 2023. Greenwich Avenue serves as the commercial epicenter of Greenwich and is home to an exceptional collection of luxury retailers and lifestyle brands. Supported by strong pedestrian traffic and an affluent customer base, the prestige associated with a Greenwich Avenue address continues to attract premier retailers and serves as a powerful branding advantage.

This generational investment opportunity allows investors to acquire long term passive income backed by top-tier store performance and high-value intrinsic real estate along Greenwich Avenue, one of the nation's most prestigious retail corridors.

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Attributes

Total Annual Rent

€1,780,011.98

Remaining lease term

11.1 years

Building area net

995 m²

Land area net

0.12 ha

Year built

1941

Media

Investment Highlights

Main-and-Main Greenwich Avenue Real Estate

Situated on a one-mile luxury retail corridor widely considered as the "Rodeo Drive of the East", and one of the most sought-after retail addresses in the United States.

Offered in America's 6th Wealthiest Zip Code

Home to 13 of Connecticut’s 19 billionaires, over $54 billion in residential real estate wealth, and average household income exceeding $317,000.

High-Performing CVS Location

Consistent sales growth, with average monthly sales increasing more than 22% since 2023

Fortune 10 Healthcare Powerhouse

CVS Health is one of the nation’s largest healthcare companies and the largest pharmacy provider in the United States.

Where CVS Wants to Be

Thirty-five years of continuous operation reflects CVS’s commitment to one of its most productive and strategically located pharmacy locations.

Exceptional Local Demographics

Featuring average household incomes above $317,000 and average home values of approximately $1.56 million within Central Greenwich.

Where Manhattan's Wealth Lives

The preferred residential destination for hedge fund managers, private equity executives, family offices, and financial professionals seeking direct access to New York City.