Inland Real Estate Acquisitions Acquires 24 Newly Developed CVS Pharmacy (CVS) Properties
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Inland Real Estate Acquisitions, Inc. announced that it facilitated the acquisition of 24 newly developed CVS Pharmacy (NYSE: CVS) properties, totaling 276,466 square feet across 14 states, for a total purchase price of more than $116 million. 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.
“We are pleased to have found a group of virtually brand new CVS Pharmacy stores, which are all located in strong performing markets across the country,” said Cosenza. “This was an attractive acquisition opportunity due to the fact that each store was under a new 25-year absolute triple net lease that CVS Health Corporation guaranteed for each CVS Pharmacy property.”
The CVS Pharmacy properties are located in Arkansas, Georgia, Illinois, Kentucky, Louisiana, Michigan, Minnesota, New York, Ohio, Pennsylvania, South Carolina, Texas, Virginia and Wisconsin.
To date, Inland Real Estate Acquisitions, Inc. has facilitated almost $44 billion of purchases including retail centers, apartments, medical office, student housing, self-storage facilities and single-tenant properties.
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