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Atlanta & Southeast  + Southeast  + Retail  |  September 24, 2020
David Cohen
By: David Cohen

Boulder Group Arranges $3M Sale of Net-Leased Retail Property in North Carolina

Net leased investment brokerage firm the Boulder Group has arranged the $3 million sale of a retail property net leased to CVS Pharmacy in Gastonia, NC.

Located at 1803 South New Hope Road, the 10,125-square-foot property is in a retail corridor featuring Walmart Neighborhood Market, Bi-Lo, Publix, Walmart Supercenter, Sam’s Club, Lowe’s and Target. The CVS lease has twenty years remaining and features five, 5-year renewal option periods with 5% rental escalations in each option. CVS Pharmacy is the nation’s largest drugstore chain and operates 9,800+ locations in 49 states, the District of Columbia, Puerto Rico and Brazil.

Randy Blankstein and John Feeney of The Boulder Group represented the seller, a West Coast-based real estate fund, in the transaction. The buyer was a private investor.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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