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OhioNet Lease

Boulder Group closes $2.8 million CVS sale in Ohio

October 14, 2018
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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.

 

 

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