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Boston & New England  + Metro Boston  + Retail  | 
SRS Real Estate Partners has completed the $16-million sale of the CVS-leased building at 655 Mount Auburn Street in Watertown, MA.

SRS Brokers Watertown Retail Property Triple-Net Leased to CVS for $16M

SRS Real Estate Partners has completed the $16-million sale of a freestanding retail property fully occupied by CVS in Watertown, MA. The property has more than 19 years remaining on its triple-net lease.

Kevin Held of SRS represented the seller, a West Coast-based family trust. The buyer, a MA-based private investor who was in a 1031 exchange, was represented by Josh Kanter of Marcus & Millichap.

“SRS generated multiple competitive offers on this asset on behalf of our seller client. Ultimately, the property sold at the fourth highest price for a CVS-occupied property on a national basis this year,” said Held. “This transaction illustrates that well-located, credit tenant properties in major markets continue to trade at a premium. They are in high demand and in short supply.”

The 14,400-square-foot building at 655 Mount Auburn Street was built in 2016. It is two miles from Harvard University and seven miles from downtown Boston.


Inside The Story

SRS Real Estate Partners' Held

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.

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