The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant CVS located at 1421 State Street in Lawrenceville, Illinois for $1,134,000.
The 10,093 square-foot building benefits from its position at the hard corner of State Street & State Route 1, which experiences daily traffic of 16,800 vehicles. Neighboring retailers include Walmart Supercenter, McDonald’s, Ace Hardware, AutoZone, O’Reilly Auto Parts, Dollar General, and Circle K – all of which drive a continual flow of traffic through the corridor. The subject asset is also within proximity to Lawrence County Memorial Hospital and Lawrenceville High School. The average household income within 7 miles is in excess of $74,000.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is an Illinois based partnership and the buyer is a West Coast based individual investor.
CVS is the nation’s largest drugstore chain, operating 9,900+ locations in 49 states, the District of Columbia, Puerto Rico and Brazil. CVS is a publicly traded company on the New York Stock Exchange (Symbol: CVS) with a market capitalization in excess of $92 billion. CVS is one of the largest corporations in the nation, ranking #4 on the Fortune 500.
“CVS has demonstrated immense commitment to the site with occupancy since 2005.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “This property features one of the lowest absolute rents in the country for a national drug store tenant. Lower rent pharmacy assets generate interest from private investors.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high-net-worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $9 billion of single tenant net lease real estate transactions. From 2013-2023, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html
