December 15, 2021 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of CVS Pharmacy in Pinson, Alabama. Horvath & Tremblay exclusively represented the seller in this transaction at a sale price of $1,800,000.
CVS Pharmacy is located at 6665 Highway 75 in Pinson, Alabama. CVS has been at the Property since 2001 and showed their commitment to the site by extending their lease through November 2031, leaving 10 years of term remaining and ten (10), 5-year renewal options. The lease calls for an attractive 5% rent increase at the start of each renewal option period, providing a steady increase in income and an attractive hedge against inflation. The Property is highly visible on Highway 75 near the well trafficked, signalized intersection of Highway 75 and Pinson Boulevard just outside of Birmingham, the second largest city in Alabama. CVS is well-located in the immediate vicinity of two major grocers; the Property is adjacent to Winn-Dixie and across the street from a Food Giant anchored retail center, with numerous national retailers situated in the immediate trade area.
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.