Inland Pays $116M for CVS Pharmacies

Inland Real Estate Acquisitions Inc. paid a total purchase price of more than $116 million to acquire 24 just-delivered CVS Pharmacy properties. Joe Cosenza, vice chairman of The Inland Real Estate Group, Inc. and president of Inland Real Estate Acquisitions, facilitated the transaction on behalf of an Inland affiliate.

The properties are in Arkansas, Georgia, Illinois, Kentucky, Louisiana, Michigan, Minnesota, New York, Ohio, Pennsylvania, South Carolina, Texas, Virginia and Wisconsin. According to Cosenza, each store has a 25-year absolute triple net lease, guaranteed by CVS Health Corp.

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