CVS Pharmacy Properties
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CVS Pharmacy Properties
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CVS Pharmacy Properties are top picks for sophisticated 1031 buyers
Michigan
CVS Pharmacy Properties Property #pnnns 17:21:55
CVS Pharmacy Properties Tenant:
CVS Pharmacy
Credit Rating: S&P "A"
State Located: Michigan
Lease Term: 22-Year Primary Lease term.
Lease Type: NNN - ABSOLUTE TRIPLE NET with
NO Landlord responsibilities to the buyer. Tenant is responsible for ALL expenses, including
property taxes, maintenance, repairs, all insurance, roof and structure, and all other costs.
Rent Commencement Date: October, 2001
Price: $3,773,122. Only
$404,263 in cash is required to purchase this property!
Financing Obligations:
Loan is Non-Recourse.
Current Loan Balance: $3,368,859 (est.)
Annual Cash Flow: $0
Remarks:
Can be purchased all cash (subject to refinancing) or as premium over the .
This is a "Bond-Net" lease.
CVS Operates over 4,100 stores in the Northeast and Mid-Atlantic portions of the U.S. For the
year ending December 2000, CVS reported sales of $20.1 billion. CVS is publically traded on the
NYSE (CVS) and has an S&P rating of "A". With the recent acquistion of Revco and Arbor Drugs, CVS
is the #2 drugstore chain in the U.S. in total sales and #1 in store count and prescriptions
filled.
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CVS Pharmacy Properties - Further explanation of these types of
investments
The CVS Pharmacy Properties contained herein have been obtained from CVS Pharmacy Properties
sources believed to be reliable. While we do not
doubt the accuracy of these CVS Pharmacy Properties, we have not verified it and make no
guarantee, warranty or representation
about the accuracy or completeness of the CVS Pharmacy Properties information. As a CVS Pharmacy
Properties buyer, it is your responsibility to
independently confirm the accuracy and completeness. Any projections, opinions, assumptions or
estimates used
are for example only and do not represent the current or future performance of the CVS Pharmacy
Properties. The value of these
CVS Pharmacy Properties to you depend on factors which should be evaluated by your tax, financial
and legal advisors. You and
your advisors should conduct a careful, independent investigation of these CVS Pharmacy Properties
to determine to your
satisfaction the suitability of the property for your needs. By requesting further information,
you agree to
indemnify Quality Real Estate and shall hold Quality Real Estate harmless from any kind of claim,
cost, expense,
or liability arising out of your investigation and/or purchase of these CVS Pharmacy Properties.
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