June 2021
Recently Sold – CVS Pharmacy, Alpharetta GA
Thomas Company is pleased to announce the recent sale of a CVS retail asset in Alpharetta, GA totaling +/- 13,225 square feet. The list price was $3.7 million. The buyer was attracted to the long-term lease, below-market rent, and Atlanta MSA location.
- MANAGEMENT-FREE OWNERSHIP: The Tenant recently executed a 20-year absolute net lease (NNN) with no Landlord responsibilities whatsoever. The Tenant is responsible for all management and maintenance of the asset.
- AFFLUENT ATLANTA SUBURB: 3-mile average household income of $151,633
- BELOW-MARKET RENTAL RATE: CVS’s contractual rental rate was approximately 40% below fair market value.
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Recently Sold – Riddell Manufacturing and Distribution Facility
Thomas Company is pleased to announce the successful sale of a mission-critical Riddell Sports Group manufacturing and distribution facility in North Ridgeville, OH (Cleveland MSA).