JLL Capital Markets has closed the $5.1 million sale of a 13,180-square-foot, single-tenant retail building ground leased to CVS Pharmacy in the Chicago-area community of Schaumburg, Illinois.
JLL marketed the property on behalf of the seller, a New York-based private high-net worth individual. A California-based DST provider purchased the asset. The JLL Capital Markets team representing the seller 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,” said 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.”
