Investing in Real Estate, Northeast Region

Property Description

•  New Construction for Investing in Real Estate.

•  Building completed November 2007

•  Adjacant to new 48,000 s/f grocery anchored center.

•  Intial lease term: 25 Years

•  CVS Corporate Guarantee

•  Delivered Debt Free

•  Opened November 2007

•  NN lease

This corner CVS/pharmacy drug store opened in November of 2007. The CVS sits on a 2.3 acre parcel adjacent to Bloom grocery store, the new upscale neighborhood grocery concept by Food Lion�s (parent company Delhaize Group). The grocery and adjoining shops opened in Fall 2006. The initial lease term is 25 years with a four five year option periods with stated rent escalations. Initial term annual rental is $430,184.

The lease is guaranteed by CVS Corporation of Woonsocket, Rhode Island. CVS (NYSE: CVS) was founded in 1892 operates more than 6,200 stores in 44 states and the District of Columbia and generates over 65% of its revenues from the pharmacy business. CVS announced record second quarter earnings June 30, 2007 of $723.6 million, an increase of 114.1%. Net earnings for the six months ending June 20, 2007 increased to over one billion one hundred thirty two million ($1,132,000,000). CVS has a S&P credit rating of BBB+.

CVS will operate two drive thru pharmacy windows at this location. Immediately adjoining tenants include local retailers including Pizza Hut and the 38,000 square foot Bloom grocery store at a signalized intersection.

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