The Boulder Group completed the sale of a single-tenant net-leased CVS Pharmacy property at 3825 Monticello Blvd. in Cleveland Heights, Ohio, for $2.8 million.
The 10,159-square-foot CVS Pharmacy is positioned at the signalized intersection of Monticello Boulevard and Noble Road, two primary thoroughfares in the trade area with a combined traffic count exceeding 36,480 vehicles a day.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a Midwest-based real estate investment company. The buyer was a West Coast-based real estate partnership.
The CVS Pharmacy lease has more than five years remaining in the primary term that expires in January 2023. The original 23-year triple-net lease features 10 five-year renewal option periods.
