|Gross Leasable Area (GLA)||12,082|
|Price Per Square Foot (GLA)||$77.80|
|Lot Size||1.50 acre|
Marcus & Millichap is pleased to offer for sale, a fee simple interest in this CVS Ground Lease located in Hawthorne, Florida, which is approximately 20 minutes from Gainesville, home to the University of Florida.
Commencing in 2006, this offering includes approximately a 1.50 acre outparcel to a SuperValu and Family Dollar anchored shopping center near the intersection of U.S. 301 and State Road 20. This CVS location is the go-to pharmacy for Hawthorne, with the closest competing pharmacy located 15 miles to the west in the city of Gainesville.
Guaranteed by CVS Corp. (S&P: BBB+), this 25-year ground lease has approximately 17.5 years remaining on the initial term. There are five percent increases at the beginning of each of the nine, five-year renewal periods.