April 11, 2022 – Charles Loccisano and Michael Lombardi of Horvath & Tremblay have successfully completed the sale of CVS Pharmacy in Parkesburg, Pennsylvania. Horvath & Tremblay exclusively represented the buyer in this transaction at a sale price of $5,850,000.
CVS Pharmacy is located at 3373 W Lincoln Highway in Parkesburg, Pennsylvania. CVS has been at this location since it was constructed in 2017 and has approximately 21 years remaining on their long term Absolute NNN Lease with ten (10), 5-year renewal options. The Property was sold with assumable, self-amortizing debt in place (Zero Cash Flow). The Property provides the opportunity to generate passive losses that work to offset passive income from other investments. CVS is located at the signalized intersection of Lincoln Highway (US Highway 30) and Octorara Trail (PA Route 10). The Property is situated at the commercial center of Parkesburg and shares the intersection with Home Depot, Walmart Supercenter, TJ Maxx, Chili’s, McDonald’s, Arby’s, Dunkin’, and Wawa. Parkesburg is a rural community approximately 50-miles west of Philadelphia.
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.