Austin, TX - CVS

Description:

• CVS Pharmacy Corporate guarnteed lease (S&P: BBB)
• 18 years remaining with 6 (5-year) option periods to extend
• The lease features a 10% rental increase at the beginning of each option period, increasing the NOI and creating a hedge against inflation

• The subject property is located at the signalized, hard-corner intersection of W. William Cannon Drive and Menchaca Road, with a combined average of 69,400 vehicles per day
• Approximately two miles from Highway 1, a major retail and commuter thoroughfare that sees over 89,600 vehicles per day
• The property is positioned in a retail corridor with national and credit tenants such as H-E-B, Starbucks, Lowe’s Home Improvement, Sprouts, Planet Fitness, Dollar General, Altitude Trampoline Park, and more
• The site is equipped with a large pylon sign, enhancing visibility and helping drive customer traffic
• Strong tenant synergy promotes crossover shopping to the subject property

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Listing ID: a28TP0000021DLRYA2