Naples, Florida- There is Net Lease Properties news on a CVS portfolio that was purchased. A Net leased property portfolio has already sold and it was made up of 13 single tenant, net leased properties with CVS drugstores being the Tenants. This unique national Net Leased Property portfolio was acquired by Cole Real Estate Investments of Phoenix. Cole Real Estate Investments is presently on the list of nation’s most active investors buying quality, income producing NNN commercial real estate developments. Cole Real Estate Investments spent somewhere around $70 million for this particular NNN property portfolio. The news is coming from the beautiful Naples, Florida area which is home to the Cheap Car Insurance Quotes office.
It has been duly noted that Cole Real Estate Investments chooses to invest in Net leased properties that are single tenant property investments. This approach of a NNN Investment methodology is established for being one of the most effective long term possibilities while investing in commercial real estate in any State. Cole Real Estate Investments seeks net lease properties to realize a comparatively high percentage of overall return from the income.
Also NNN Lease Investments are expected to exhibit a reasonably low degree of price volatility as the majority of these properties get their asking price. Cole Real Estate Investments does invest in net lease properties portfolio so that the tenant, not the landlord, is responsible for the bulk of or all costs of maintaining the asset, including taxes and insurance.
This NNN Property Portfolio consists of somewhere around 174,357 square feet with CVS drugstores. These CVS Net leased properties are based within the states of California, Florida, Georgia, Kansas, Minnesota, Mississippi, New Jersey, New York, Oklahoma, South Carolina and the great state of Texas. These newer CVS NNN properties were opened between 2009 and 2010, and are leased with approximately 24 year contracts falling under triple net lease terms. Presented with this information, Cole Real Estate Investments need not have to consider leasing these net lease properties until around 2035. We know of many NNN Commercial real estate veterans who would love to join forces in new Net Lease Properties portfolio purchases.
The majority of NNN Properties which are net leased to national credit tenants are in high demand for foreign investors, high net worth private investors and real estate investment trusts (REITs). The potential opportunities for new CVS triple net leased properties are becoming more difficult to fund. There were reports recently that CVS will decrease new store openings and they will focus on rival drugstore buyouts to compete with.
Our Net Lease Properties site has various other points on why NNN Property Investors benefit from CVS as a net leased property tenant. The following details are from the website at www.cvs.com:
CVS Caremark (NYSE: CVS) is the largest pharmacy health care provider in the United States. Through their integrated offerings across the entire spectrum of pharmacy care, they are exclusively positioned to provide greater access, to engage plan members in behaviors that improve their health and to lower overall health care costs for health plans, plan sponsors, and their members. As one of the country’s largest pharmacy benefit managers (PBMs), they provide plan sponsors and participants access to a network of over 62,112 pharmacies along with more than 7,019 CVS pharmacy drugstores.
CVS Caremark has given employment to over 200,000 individuals. As of September 30, 2010, CVS has managed 7,149 retail drug stores, 569 MinuteClinic locations, 44 retail specialty pharmacy stores, 18 specialty mail order pharmacies, five mail service pharmacies, and the CVS.com and Caremark.com Websites.
More CVS Pharmacy Company Benefits to consider:
More than $99 billion in annual revenue
Ranked 18th on Fortune 500 for the year of 2010
No. 1 provider of prescriptions – which is more than 1 billion prescriptions filled or managed annually
75% of the U.S. population lives within three miles of a CVS (rewards Net Lease Properties investors)
Creditworthy tenants who provide a stable flow of income to NNN Property investors
