June 2022 – German family office represented by International Capital acquired a CVS Pharmacy in the metropolitan area of Denver, Colorado.
CVS Health (NYSE: "CVS") was founded in 1969 and is one of the largest retailers in the US pharmaceutical industry. CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products, and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards, and convenience foods through their CVS Pharmacy and Longs Drugs Retail stores and online.
In 2021, CVS totaled $292 billion in sales, an increase of approx. 9% over the previous year, and employed more than 300,000 people. CVS now operates over 9,900 locations in 49 US states, an equivalent of around 11% of all drug store sales in the US, providing around 4.5 million people with daily access to basic health care.
The free-standing drugstore with a pharmacy drive-thru was built recently built and is situated on a large 2.2 acre parcel of land. The CVS is strategically located bordering a growing residential area on a busy thoroughfare and signalized intersection. The investment offers a 25-year absolute triple net lease with five 5-year renewal options.
Martina Crevecoeur, CCIM, Senior Vice President Acquisitions / Dispositions of International Capital LLC, represented the investor in the transaction.