October 20, 2021 – Bob Horvath, Todd Tremblay, Michael Talbert and Chris King of Horvath & Tremblay have successfully completed the sale of CVS (subleased to Dollar Tree) in Clearwater, Florida. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete this transaction at a sale price of $8,938,071.
CVS subleases the property to Dollar Tree and is located at 1765 Gulf to Bay Boulevard in Clearwater, Florida. CVS has been at the Property since its construction in 2007 and has more than 11-years remaining on their lease with a five (5), 5-year renewal options. The CVS lease calls for 5% rent increases at the start of each of their renewal options. The Property is situated on a highly visible corner parcel at the signalized intersection of Gulf to Bay Boulevard (FL Route 60), one of the area’s primary retail corridors, and S Keene Road. CVS enjoys an excellent location situated in between US Highway 19 and US Highway 19 ALT (Missouri Avenue N) along Route 60, which directly connects Clearwater with downtown Tampa Bay. The property sees more than 80,400 vehicles per day at the signalized intersection of Gulf to Bay Boulevard and S Keene Road.
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.