Drug Store

CVS Pharmacy | New 20-Year Term | Washington, D.C. MSA

22701 Gosnell Farm Dr, Clarksburg, MD 20841

Listing Price: $5,000,000

Cap Rate
4.50%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
21.0
Guarantor
Corporate Guarantee
Rentable SF
10,800
Lease Type
NNN Ground Lease
Rent Per Square Feet
$20.83

Investment Overview

ESSENTIAL RETAILER – CVS locations have remained open throughout the recent Covid-19 stay-at-home orders and have implemented on-site testing. As of May 29th, CVS has established a total of 1,000 sites across more than 30 states and Washington, DC. CVS Health Corp. reported a significant jump in use of digital and at-home offerings in the quarter ending March 31, including MinuteClinic virtual visits up 600% and retail prescription home delivery up more than 1,000%. The Company reported revenue of $66.8 billion, up 8.3% from the same period last year, driving to a profit of $2 billion, up 41% year-over-year. PROMINENT LOCATION OUTSIDE WASHINGTON, DC BELTWAY– A large 1.11- acre parcel along Clarksburg Road (12,972 VPD) at the base of the I-270 (113,451 VPD) on/off ramp, a fifteen-mile drive from the Capital Beltway. The site has is prominently positioned on the traffic circle opposite the entrance to the Clarksburg Premium Outlets.

Investment Highlights

  • NEW 20 YEAR-TERM NNN GROUND LEASE WITH INCREASES IN OPTIONS
  • PRESTIGIOUS MONTGOMERY COUNTY WITH HIGH BARRIERS TO ENTRY
  • PATH OF GROWTH I-270 CORRIDOR OUTSIDE WASHINGTON DC

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • Josh Ein

    First Vice President Investments

    (202) 536-3726

    Email Josh

    License(s): DC: SP98371724, MD: 643676, VA: 0225242141

    Washington, D.C.

Broker of Record

  • Dawson Rinder

    Sales Manager

    License(s): MD: 0225215181

    Maryland

Drug Store

CVS Pharmacy | New 20-Year Term | Washington, D.C. MSA

Listing Price: $5,000,000

Cap Rate
4.50%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
21.0
Guarantor
Corporate Guarantee
Rentable SF
10,800
Lease Type
NNN Ground Lease
Rent Per Square Feet
$20.83

Investment Highlights

  • NEW 20 YEAR-TERM NNN GROUND LEASE WITH INCREASES IN OPTIONS
  • PRESTIGIOUS MONTGOMERY COUNTY WITH HIGH BARRIERS TO ENTRY
  • PATH OF GROWTH I-270 CORRIDOR OUTSIDE WASHINGTON DC

Investment Overview

ESSENTIAL RETAILER – CVS locations have remained open throughout the recent Covid-19 stay-at-home orders and have implemented on-site testing. As of May 29th, CVS has established a total of 1,000 sites across more than 30 states and Washington, DC. CVS Health Corp. reported a significant jump in use of digital and at-home offerings in the quarter ending March 31, including MinuteClinic virtual visits up 600% and retail prescription home delivery up more than 1,000%. The Company reported revenue of $66.8 billion, up 8.3% from the same period last year, driving to a profit of $2 billion, up 41% year-over-year. PROMINENT LOCATION OUTSIDE WASHINGTON, DC BELTWAY– A large 1.11- acre parcel along Clarksburg Road (12,972 VPD) at the base of the I-270 (113,451 VPD) on/off ramp, a fifteen-mile drive from the Capital Beltway. The site has is prominently positioned on the traffic circle opposite the entrance to the Clarksburg Premium Outlets.

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • Josh Ein

    First Vice President Investments

    (202) 536-3726

    Email Josh

    License(s): DC: SP98371724, MD: 643676, VA: 0225242141

    Washington, D.C.

Broker of Record

  • Dawson Rinder

    Sales Manager

    License(s): MD: 0225215181

    Maryland

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