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Thursday, February 3, 2011

CVS Net Lease Properties Portfolio Sold

CVS-Naples-triple-net-lease-properties
Naples, Florida- We have a CVS portfolio deal to report on, for Net Lease Properties news. A Net lease property portfolio sold that was comprised of 13 single-tenant, net leased with CVS drugstores as the Tenants. This nationwide Net lease property portfolio was purchased by Cole Real Estate Investments of Phoenix. Cole Real Estate Investments is currently one of the nation’s most active investors buying quality, income-producing commercial real estate developments. Cole Real Estate Investments paid approximately $70 million for this Net lease property portfolio.

Cole Real Estate Investments prefers investing in Net leased properties which are single-tenant properties. This NNN Investment strategy is proven to be one of the best long-term options when investing in commercial real estate. Cole Real Estate Investments seeks net lease properties to achieve a relatively high percentage of total return from income. Also NNN Lease Investments are expected to exhibit a relatively low degree of price volatility.

Cole Real Estate Investments does invest in net lease properties portfolio so that the tenant, not the landlord, is responsible for the majority of or all costs of maintaining the property, including taxes and insurance. These net lease properties portfolios generally have occupancy rates that are over and above 90%. The Cole Real Estate Investments underwriting team performs extensive due diligence on all net lease properties. This is to ensure that they possess the core characteristics that Cole Real Estate Investments require for their commercial real estate investments. Cole Real Estate Investments strives for Long-term net leases to reduce the potential for major re-leasing during their projected property holding term.

This is an approximately 174,000 square-foot investment property portfolio with CVS drugstores. These CVS Net leased properties are located throughout California, Florida, Georgia, Kansas, Minnesota, Mississippi, New Jersey, New York, Oklahoma, South Carolina and Texas. These new CVS Net leased properties were opened in 2009 and 2010, and are leased with approximately 24-year triple-net lease terms. Given these facts, Cole Real Estate Investments should not have to think about leasing these net lease properties until 2035. Although at any point Cole Real Estate Investments can get into a 1031 Exchange with any or all of these triple net lease properties.

NNN Commercial Real Estate that is net-leased to national credit tenants are in high demand with high-net worth private investors and real estate investment trusts (REITs). The future availability of new CVS triple net leased properties could be getting slimmer. With news in the past year that CVS will decrease new store openings and they will focus on rival drugstore buyouts to compete with. There was no mention of assumable fully Amortizing Debt or Investment Property financing.

We can show additional reasons why NNN Commercial Real Estate Investors enjoy CVS as a net-leased tenant. This information below is from the the source at www.cvs.com:

CVS Caremark (NYSE: CVS) is the largest pharmacy health care provider in the United States. Through their integrated offerings across the entire spectrum of pharmacy care, they are uniquely positioned to provide greater access, to engage plan members in behaviors that improve their health, and to lower overall health care costs for health plans, plan sponsors, and their members. As one of the country's largest pharmacy benefit managers (PBMs), they provide plan sponsors and participants access to a network of over 62,079 pharmacies including more than 7,023 CVS pharmacy drugstores.

CVS Caremark has given employment to 200,016 people. As of September 30, 2010, CVS operated 7,149 retail drug stores, 569 MinuteClinic locations, 44 retail specialty pharmacy stores, 18 specialty mail order pharmacies, five mail service pharmacies, and the CVS.com and Caremark.com Web sites.

Company Highlights
More than $99 billion in annual revenue
Ranked 18th on Fortune 500 for 2010
No. 1 provider of prescriptions – more than 1 billion prescriptions filled or managed annually
75% of the U.S. population lives within three miles of a CVS (benefits NNN Properties)
Creditworthy tenants who provide a stable flow of income to triple net lease properties investors

Contact Net Lease Properties to sell your net lease properties, or purchase NNN Leased Property.
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