November 30, 2020
JLL Capital Markets not too long ago closed the $5.1-million sale of a 13,180-square-foot, single-tenant retail constructing floor leased to CVS Pharmacy in Schaumburg, IL. The vendor was a New York-based non-public high-net-worth particular person. A California-based DST supplier bought the asset.
The JLL Capital Markets workforce representing the vendor was led by managing director Alex Sharrin and director Alex Geanakos.
“Pharmacy investment sales have reached a three-year high in terms of pricing premium and volume,” mentioned Sharrin. “Tenants such as CVS and Walgreens have been an incredibly defensive investment within the 1031 exchange market, private capital market and even institutional capital market in 2020.”
The Schaumberg location is one among about 9,900 CVS retail areas and is located on 1.80 acres at 1855 W. Irving Park Rd. Accomplished in 2005, it’s 30 miles outdoors of Chicago in an space surrounded by 132,270 residents inside a three-mile radius.
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Tags: Dealer, Internet Lease, Retail, Sale
dealer net-lease retail sale
Schaumburg CVS Sells to DST Purchaser