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Schaumburg CVS Sells to DST Buyer
JLL Capital Markets recently closed the $5.1-million sale of a 13,180-square-foot, single-tenant retail building ground leased to CVS Pharmacy in Schaumburg, IL. The seller was a New York-based private high-net-worth individual. A California-based DST provider purchased the asset.
The JLL Capital Markets team representing the seller was led by managing director Alex Sharrin and director Alex Geanakos.
“Pharmacy investment sales have reached a three-year high in terms of pricing premium and volume,” said Sharrin. “Tenants such as CVS and Walgreens have been an incredibly defensive investment within the 1031 exchange market, private capital market and even institutional capital market in 2020.”
The Schaumberg location is one of about 9,900 CVS retail locations and is situated on 1.80 acres at 1855 W. Irving Park Rd. Completed in 2005, it’s 30 miles outside of Chicago in an area surrounded by 132,270 residents within a three-mile radius.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
- ◦Lease
