April 16, 2021 – Rob DiFranco of Horvath & Tremblay has successfully completed the sale of CVS Pharmacy in Blakely, Georgia. Horvath & Tremblay exclusively represented the buyer in this transaction at a sale price of $2,736,712.
CVS Pharmacy is located at 11685 Columbia Street in Blakely, Georgia. The stand-alone brick building was constructed for CVS and contains 11,860 square feet, including a drive through on a 1.31 acre-lot. CVS recently demonstrated their commitment to this site and market by executing a new 20-year lease. They have 19 years remaining on their Absolute NNN Lease with eight (8), 5-Year Renewal Option. The lease calls for attractive 5.0% rent increases at the start of the each of the renewal options. CVS is located at the signalized intersection of Columbia Street and South Flowers Drive, and is positioned directly from Pioneer Community Hospital, a 151-bed hospital providing a range of services from acute care, nursing, and therapy. CVS features excellent exposure along Columbia Street, the area’s primary commercial corridor. Additionally, the site includes a drive-thru facility with access points along both Columbia Street and Freeman Road. Other national retailers in the area include Harvey’s Supermarket, Subway, Advance Auto Parts, Citi Trends, Dairy Queen and many more.
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.