September 8, 2022 – Brendan Conway of Horvath & Tremblay has successfully completed the sale of a CVS in El Paso, Texas. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $7,569,230.
CVS is located at 745 North Zaragoza Road in El Paso, Texas. The stand-alone building consists of 13,358 square feet on a 1.32-acre parcel of land. CVS has occupied this location since its construction in 2013 and has 16+ years remaining on their Absolute NNN Lease with ten (10), 5-year renewal options. The lease features rare, attractive 10% rent increases at the start of each renewal option. The Property is extremely well located at the signalized intersection of N Zaragoza Road and N Loop Drive in the Penrose neighborhood of El Paso. N Zaragoza Road is the area’s primary commercial corridor and is home to countless retailers driving traffic to the area including several grocery stores. The Property has outstanding visibility and frontage, three points of access, and is surrounded by densely populated residential neighborhoods, creating a strong customer base. The Property is 2.5-miles from Interstate 10 and 3.5-miles from the United States Border with Mexico.
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.