Distribution Center Properties
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Distribution Center Properties
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Distribution Center Properties benefit from write offs against other income and a free and clear
property at the end
Pennsylvania
Distribution Center Properties Property #pnnns 17:21:55
Distribution Center Properties Tenant:
CVS Pharmacy
Credit Rating: S&P "A"
State Located: Pennsylvania
Size of Building: 368,594 Square Feet Building
Land Area: 31.021 Acres
Lease Term: 22-Year, 5 month 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 Expiratin: Expires January 31, 2024
Annual Rental Income (NOI): From years 1
through year 22.5 $661,338
Price: $7,985,274. Only
$855,565 in cash is required to purchase this property!
Financing Obligations:
Loan is Non-Recourse.
Current Loan Balance: $7,129,709 (est.)
Interest Rate: 7.52%
Annual Debt Service: $661,338
Annual Cash Flow: $0
Remarks:
Loan is fully amortizing.
Can be purchased all cash (subject to refinancing) or as premium over debt.
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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Distribution Center Properties - Further explanation of these types of
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The Distribution Center Properties contained herein have been obtained from Distribution Center
Properties sources believed to be reliable. While we do not
doubt the accuracy of these Distribution Center Properties, we have not verified it and make no
guarantee, warranty or representation
about the accuracy or completeness of the Distribution Center Properties information. As a
Distribution Center 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 Distribution
Center Properties. The value of these
Distribution Center 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 Distribution Center
Properties to determine to your
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