Consolidated-Tomoka Land (CTO) Acquires 0.91 Acres in Dallas, Texas for Approximately $14.9M
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Consolidated Tomoka Announces Acquisition of a CVS Ground Lease in Dallas, Texas for Approximately $14.9 Million
September 23, 2016 4:10 PM EDTDAYTONA BEACH, Fla.--(BUSINESS WIRE)-- Consolidated-Tomoka Land Co. (NYSE MKT: CTO) (the Company) today announced the acquisition of 0.91 acres (the Property), located at 2501 N. Field St., Dallas, Texas, for a purchase price of approximately $14.9 million. The Property is leased to CVS Pharmacy (CVS), Inc. for an initial term of 25 years and guaranteed by CVS Health Corporation. The Property, located near downtown Dallas and one block from the American Airlines Center, is improved with a 10,340 square foot building which was developed and paid for by CVS. The zoning on the Property allows for potential future development density of... More
