July 18, 2022 – Kyle Danielson, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of CVS Pharmacy in Hickory, North Carolina. Horvath & Tremblay exclusively represented the seller in this transaction at a sale price of $3,645,000.
CVS Pharmacy is located at 2701 South NC Highway 127 in Hickory, North Carolina. CVS has been at the Property since its construction in 1999, and has over 15 years of term remaining on their double net lease, followed by five (5), 5-year renewal options. In 2012, CVS elected to extend their original 20-year lease term out to 2037, demonstrating their long-term commitment to the site and market. The Property is situated at the signalized intersection of South NC Highway 127 and Fleetwood Drive which sees more than 22,000 vehicles per day. CVS benefits from outstanding visibility and frontage, with prominent signage and access from both roads. CVS is directly across the street from a grocery anchored-shopping center, with a number of national retailers driving traffic to the immediate area. The location is just off of US Route 321, which provides access to Charlotte via Interstate 85 to the south. Interstate 40 is just 1.5 miles away along US Route 321 and connects Hickory with Winston-Salem to the northeast.
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.