US - Lubbock, TX
HK$79,634,000 | 70,479 sf
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire fee-simple interest in a CVS (“The Property”) in the Elwood, IN. The Property sits on a hard corner in Elwood’s downtown area, with a combined traffic count of over 17,000 vehicles daily. Indiana is a top business environment in the Midwest due to its business incentives and leading infrastructure. The Property sits in the Indianapolis MSA which has shown strong population growth within the city and the surrounding suburbs over the past decade. CVS is a premier healthcare provider, generating the largest total prescription revenue in the nation throughout its almost 10,000 sites nationwide. CVS is operating on a brand-new lease extension, a testament to the confidence CVS corporate has in the site.
EXCELLENT REAL ESTATE FUNDAMENTALS
• Located on a hard corner location in downtown Elwood, IN, the location sees a combined vehicle count of 17,600 daily.
• The site benefits from the pro-business environment of Indiana, which ranks as one of the top Midwestern states for companies.
• The Indianapolis population has grown continuously over the past decade within the city and the surrounding suburbs.
BRAND NEW 15-YEAR EXTENSION
• Due to the strength of the location, CVS executed a brand-new 15-year lease extension displaying their long-term commitment to the site.
• Absolute NNN Lease requires zero landlord responsibilities throughout the lease term.
INVESTMENT GRADE TENANCY
• CVS boasts investment grade credit (S&P: BBB).
• The Tenant reported $290.9 billion in revenue in 2021 and currently holds a market cap of $141.8 billion.
• Employing 300,000+ people at almost 10,000 locations, CVS is one of the largest corporation in the nation, ranking No. 4 on the Fortune 500.