December 11, 2020 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of CVS Pharmacy in Boston, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete this transaction at a sale price of $7,150,000.
CVS Pharmacy is located at 776-784 Dudley Street in Boston, Massachusetts. CVS has 12 years of term remaining on a modified Triple-Net Lease with an additional six (6), 5-Year renewal options. This lease calls for fixed rent increases at the start of each of the option periods. The 14,162 square foot, in-line building was redeveloped in 2007, and is situated on a 0.59-acre corner parcel at the intersections of Dudley Street, Ramsay Street and Columbia Road in the densely populated Dorchester neighborhood of Boston. The Property is located in the Uphams Corner District on a busy commercial corridor with easy access for neighborhood residents on foot and for those travelling by car, CVS benefits from an exceptionally large municipal lot that provides ample parking. Additionally, CVS is located less than 0.2 miles from the Uphams Corner Station along the Fairmount Commuter Rail Line. The property further benefits from its walkability in a densely populated residential neighborhood with more than 433,157 people residing within a 3-mile radius.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.