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Boulder Group Trades CVS in the Loop
The Boulder Group completed the sale of a single-tenant CVS Pharmacy at 520 S. State St. in the Loop for $4,992,000. The 8,781-square-foot CVS is located on the ground floor of a 180-unit residential condominium building.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both sides in the transaction. The seller was a local real estate owner and the buyer was a real estate investment firm based in the Southeast.
CVS Pharmacy has more than 10 years remaining on its lease. Average household income within a one-mile radius of the property is $142,236.
“CVS drugstore properties with proven operating histories continue to garner significant investor interest,” said Blankstein, president of The Boulder Group.
Goodman, partner of The Boulder Group, added, “Properties in central business districts remain in demand with all investor classes, especially with tenants such as CVS.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
- ◦Lease