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SRS Arranges $17M Sale of CVS-Occupied Retail Property in D.C.

SRS National Net Lease Group’s Washington D.C. team has arranged the $17.1 million sale of an 8,754-square-foot retail property occupied by CVS Pharmacy in Washington D.C.

Located at 3323-3329 Connecticut Ave., NW., the property is fully-leased by CVS on a triple-net basis. Originally a Peoples Drug, this store has been in continuous operation as a pharmacy since the 1950s and was renovated and converted to a CVS in 1990.

Andrew Fallon and Rick Fernandez of SRS represented the undisclosed seller in the transaction. The buyer was private investor from California completing a 1031 exchange.

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SRS’ Fallon

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.

  • ◦Sale/Acquisition