Investment Highlights

RARE ABSOLUTE NNN LEASE TO NATIONAL TENANT WITH STRONG FINANCIALS
» Absolute NNN lease to investment grade tenant
» Recent 10-year lease extension, with a combined total lease term of 14 years, demonstrating long-term commitment to the location
» No landlord management, providing ideal investment for an out-of-area investor
» CVS is rated “BBB” by Standard & Poor’s and is ranked seventh on the Fortune 500
» CVS is the largest retailer of prescription drugs in the U.S.
» Record revenue of $184.8 billion in 2017
» CVS and its affiliates operate over 9,846 locations across the United States

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent visibility and access to 75,719 vehicles per day at the signalized hard corner of Elk Grove Florin Road and Calvine Road
» Prominent location in large retail center anchored by a Safeway grocery store
» Close proximity to multiple large shopping centers featuring major national tenants, in addition to several pad sites that are slated for future retail development

CENTRAL LOCATION WITH ROBUST DEMOGRAPHICS
» Near a number of large schools, including Butler Elementary (916 students) and the combined campuses of Monterey Trail High School and Edward Harris Middle School (3,400 students) and Sheldon High School, Smedberg Middle School, and Bradshaw Christian School (4,088 students)
» Close proximity to the main campus of Cosumnes River College, which has a total enrollment of 13,091 students
» Just minutes from major employers, like Kaiser Permanente South Sacramento, which has nearly 3,500 employees at its 217-bed hospital and is one of the largest employers in the south Sacramento area
» Large population of 274,387 residents within five miles of the property
» High average household income of $92,334 within a one-mile radius, providing a strong customer base

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Property Description

SOLD

The property is conveniently located within a Safeway-anchored shopping center located at the signalized hard corner of Elk Grove Florin Road and Calvine Road, with excellent visibility and access to 75,719 vehicles per day. In addition to the Safeway grocery store, other tenants in the center include Starbucks, Supercuts, Sally Beauty Supply, and Sprint. The property is located in a dense retail corridor and is surrounded by several retail centers featuring notable tenants. The property is adjacent to a Bel Air-anchored center than is also tenanted by 24 Hour Fitness, Petco, Chase, and Great Clips, among others. The Promenade at Arbor Creek, located across from the property, features Rite Aid, Western Dental, MetroPCS, McDonald’s, and Papa Murphy’s. Other tenants in the immediate area include Kohl’s, Bank of America, Walgreens, O’Reilly Auto Parts, Little Caesars, and Panda Express, in addition to several pad sites that are slated for future retail development.

The property is just minutes away from a number of large schools, including Butler Elementary (916 students) and the combined campuses of Monterey Trail High School and Edward Harris Middle School (3,400 students) and Sheldon High School, Smedberg Middle School, and Bradshaw Christian School (4,088 students). Additionally, the property is close to the main campus of Cosumnes River College, which has a total enrollment of 13,091 students. The property is also close to major employers, like Kaiser Permanente South Sacramento, which has nearly 3,500 employees at its 217-bed hospital and is one of the largest employers in the south Sacramento area. Large, affluent residential neighborhoods also surround the property; 274,387 residents live within a five-mile radius, with a high average household income of $92,334 within a one-mile radius, providing a strong customer base.