US - Lubbock, TX
NZ$16,244,000 | 6,548 m²
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 Cedartown, Georgia. The site sits in the location’s main retail corridor with nearby grocers, quick service restaurants, and other amenities driving traffic to the area. Georgia is a leading pro-business state, offering leading tax incentives such as property tax abatement and employment credits. The nearby Atlanta MSA has shown strong growth across its economy and population throughout the last 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 in the area’s main retail corridor, the central location and surrounding retailers drive over 15,000 vehicles past the site daily.
• The asset benefits from the pro-business environment in Georgia. The state offers one of the nations leading tax environments, offering incentives including property tax abatement and employment tax credits.
• Georgia’s population has increased by over one million since 2010, a 10.6% increase.
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.