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Net-Leased CVS in San Diego Sells in All-Cash Deal
Beta Agency, a leading commercial real estate brokerage and advisory firm, completed the sale of a 16,972-square-foot freestanding net-leased CVS pharmacy located at 14589 Camino Del Norte in San Diego. The sale price was $5,798,529.
SVP Adam Friedlander represented the buyer, a local private high-net-worth investor. The seller, Tian Ren Di, LLC, was represented by Connor Olandt of Matthews REIS.
“Beta Agency was able to source a local, private buyer that was attracted to this high profile, CVS pharmacy due to its strong in-place cash flow day one, underlying real estate fundamentals and long primary lease term remaining,” said Friedlander. “There is limited drugstore competition from newer freestanding stores in the area.
“In addition, the property was situated on 2.59 acres of land in a dense area of San Diego County, which is hard to find,” he continued. “The buyer was able to secure property with a short due diligence period and an all-cash offer. This will be a legacy asset that the buyer will hold and pass on to future generations.”
- ◦Sale/Acquisition




