Net Leased CVS Sold

The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant CVS located at 3501 NW 36^th Avenue in Norman, Oklahoma. for $3,772,000.

Located at the intersection of 36th Avenue and West Tecumseh Road, the subject property is positioned adjacent to Norman Healthplex, a regional 400,000 square foot 168-bed state-of-the-art hospital.  CVS features excellent exposure and accessibility along two of the area’s main traffic corridors with combined daily traffic counts in excess of 35,400 vehicles. This affluent community boasts average household income in excess of $126,000 within a one mile radius.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction. The buyer was based in California in a 1031 exchange. The seller was a private real estate investor.

CVS Health is the nation’s premier health innovation company helping people on their path to better health. Whether in one of its pharmacies or through its health services and plans, CVS Health is pioneering a bold new approach to total health by making quality care more affordable, accessible, simple and seamless. CVS Health is community-based and locally focused, engaging consumers with the care they need when and where they need it.

“Net lease investors are increasingly attracted to low rent pharmacy deals, recognizing their potential for stable, long-term returns” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman of The Boulder Group, added, “The property’s proximity to a regional hospital was a primary highlight for the buyer.”

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