The Landes Group announced in February the acquisition of three CVS Pharmacy stores. The acquisitions totaled over $8 million across 3 states totaling approximately 33,000 square feet of real estate.
The three drug stores located in North Carolina, California and Indiana are each positioned on hard corners within a high concentration of retail properties. Retailers in the direct vicinity of include Zaxby’s, Toyota, Walgreens, Dollar Tree, Bank of America, and more. CVS Health Corp. is a leading pharmacy benefits manager with nearly 90 million plan members and is also the nation’s largest drugstore chain.
“We are happy to add more CVS Pharmacy assets to our portfolio particularly at a time like this. The pandemic certainly affected all retail, but we think that what CVS is doing regarding their Health Hubs and Minute Clinics is positioning them well ahead of their competition. Along with the vertical integration of Aetna, we feel that CVS is truly becoming a ‘one stop shop’ for all healthcare needs and is well positioned for long-term growth,” said Vice President and Director of Sales Austin Landes.
The Landes Group is a privately held real estate investment firm based in Dallas, TX offering a wide variety of industry experience. Their primary focus is single-tenant, net lease transactions, with extensive experience with large corporate tenants such as CVS, Walgreens, 7-11, Home Depot and Rite Aid.