The Landes Group announced today the purchase of a CVS Pharmacy property located in Charlotte, North Carolina. Located at 10515 Mallard Creek Road, the property is situated on just under one-half acre of land.
The property is located at a signalized intersection with traffic counts exceeding 50,000 vehicles per day. Retailers in the direct immediate vicinity include Bank of America, Trader Joe’s, Starbucks, Walgreens, LabCorp, Dunkin Donuts, Dairy Queen as well as others.
“We specialize in triple-net lease locations across United States, such as pharmacies. We were particularly attracted to this deal due to the shorter term of the CVS lease life cycle, as it offers a better return on our investment at a discounted cap rate“, said Vice President and Chief Investment Officer, Justin Grissen.
The Landes Group is a Dallas-based family-owned real estate firm whose primary mission is to assist corporate real estate users and investors in optimizing the economics of their real estate investments.