Oklahoma City, OK - CVS

Description:

• The tenant, Eckerd Corporation, is a wholly owned subsidiary of CVS Health Corporation (NYSE: CVS), one of the largest and most financially stable pharmacy operators in the U.S, offering income security through affiliation with a nationally recognized brand
• Having operated at this location since 1999, the tenant has demonstrated long-term commitment to the site by exercising two renewal options; over four years remain on the current lease term, with two (2) additional five-year options available
• The lease includes scheduled rent increases of $5,454 at the start of each renewal period, contributing to reliable NOI growth and inflation protection

• Positioned in a dense commercial node, the property is adjacent to Integris SW Medical Center and several nationally recognized retailers including AutoZone and Walmart, both of which are top-performing stores:
– AutoZone at 800 SW 44th St ranks in the 98th percentile nationally (95th out of 6,204 U.S. stores) and 1st in Oklahoma (out of 86)
– Walmart at 4420 S Western Ave ranks in the 94th percentile nationally (38th out of 673 U.S. locations) and 2nd in Oklahoma (out of 33)
• The property further benefits from prime frontage at the signalized, hard-corner intersection of SW 44th St (16,100 VPD) and S Western Ave (19,400 VPD),
• Strong tenant synergy and excellent visibility drive consistent crossover foot traffic and store performance