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Atlanta & Southeast  + Atlanta Metro  + Healthcare  | 
Net leased CVS in Athens, GA

Marcus & Millichap Arranges $9M Sale of 15K-SF Net Leased CVS in Athens

Marcus & Millichap has arranged the sale of a 14,781-square-foot net-leased property tenanted by CVS Pharmacy in Athens, GA. The asset sold for $9.1 million, according to John Leonard, regional manager of the firm’s Atlanta office.

Don McMinn, of Marcus & Millichap’s Taylor McMinn Retail Group in Atlanta, listed the property on behalf of the seller, a private investor.  

The property’s site sees a combined daily traffic count of 26,000 vehicles per day. Its location is near the University of Georgia and surrounded by medical facilities. The property has an absolute triple-net lease with CVS Pharmacy.

“This CVS Pharmacy sold at its listing price, which was $600,000 more than what the seller paid for it seven years ago, in addition to $3 million that was collected in rent,” said McMinn. “This transaction is another example of the current peak demand for quality net-lease inventory in the market today,” said McMinn.


Inside The Story

Marcus & Millichap's McMinn

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition