The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant CVS property located at 301 NE Prima Vista Blvd in Port St. Lucie, FL for $1,481,290.
The 8,857 square foot CVS property is centrally located within Port St. Lucie at a heavily trafficked signalized intersection. There are over 138,000 people living within a five mile radius of the property. CVS recently extended their lease for an additional five years.
Jordan Kaufman of The Boulder Group exclusively represented both the buyer and seller in the transaction. The purchaser was an investor based in Miami and the seller was a private Florida based partnership.
CVS has approximately five years remaining on their double net lease. CVS is a publicly traded company with a market capitalization in excess of $115 billion and is an investment grade rated company (S&P: BBB+).
“Net lease properties with strong residual value due to the strength of their location are highly sought after amongst the investment community” said Jordan Kaufman, Vice President of The Boulder Group.
