- High Volume Store with Low Rent in a Major US City
- Reported sales at this location have recently been as high as $1.1 million in a single month, making this a very high-volume CVS location. The total rent is also comparatively low at this location at $288k+, whereas other CVS locations in major metropolitan areas often have rents of 300-600k+.
- Corporate Lease with Leading National Pharmacy Company
- The lease is with CVS Pharmacy, Inc., a leading national retail pharmacy company with more than 9,800 locations in the United States, housing more than 1,100 walk-in medical clinics.
- Triple-Net (NNN) Lease with no Landlord Maintenance Responsibilities
- CVS Health recently announced its intention to acquire the healthcare corporation Aetna, Inc. The acquisition is expected to create a healthcare behemoth with $240 billion and annual revenue, and substantial synergies between the 9,800-location pharmacy operation and Aetna’s more than 22 million insurance customers.
- CVS Expected to Acquire Aetna
- CVS is operating under a Triple-Net (NNN) lease under which the tenant is responsible for the payment of taxes, insurance and the maintenance and repair of the building (including the roof) and parking lot
- Long Term History with Brand New 15-Year Extension
- CVS has been at this location since 1999, and recently extended the lease 15 years with no rent holiday, illustrating their long-term success with and commitment to the site.
- Rare Fixed Rental Increases in Base Term and All Option Periods
- This lease features rare fixed rental increases every 5 years during the remaining base term and options, providing the landlord with positive rent growth in the firm term of the lease and a rare hedge against ordinary inflation.
- Low Rent in a Dense Market with a High Barrier to Entry
- This property is located in a dense urban market under-served by retail and with a very low overall market vacancy of approximately 4%. Rents for similar retail spaces have been consistently rising, and this CVS is paying a relatively low rent amount for a CVS in a major metropolitan area.
- Signalized Corner with Substantial Traffic Counts
- This property benefits from its strategic location at the signalized intersection of Nacogdoches Road and McArthur View, a major intersection and retail area. Nacogdoches road is a substantial East / West thoroughfare in this area and experiences traffic counts in excess of 28,000 vehicles per day.
- Drive Through Location Providing Ease of Access
- This property features a drive through lane and window, allowing pharmacy customers to pick up prescriptions on-the-go and giving this CVS a competitive advantage over the other pharmacy competitors in the market as the only drive through pharmacy in the trade area.
- Blocks from Two Large Schools and San Antonio International Airport | Rapidly Growing City in an Income Tax-Free State
- This property is located blocks away from Douglas MacArthur High School and Oak Grove Elementary, two major schools with thousands of students. Also located nearby is San Antonio International Airport, the major airport in the metropolitan area which served a record 9 million passengers in 2017, making it one of the busiest airports in the state of Texas.
