Plymouth Meeting, PA, July 8, 2020 – Equity Retail Brokers recently closed a single tenant net lease sale of a CVS Pharmacy in Brookhaven, PA. Ed Ginn, Ken McEvoy, Ken Yanni, and Bri Barratt represented the Seller in the transaction. The Purchaser is based locally in the Philadelphia area.
The subject property was an existing CVS location that has a long operating history and strong sales, with over 14 years remaining in the lease. The site benefits from the building’s position in the market and location being a dense retail corridor within a suburb of Philadelphia.
CVS demonstrates a strong performance and continued future commitment to operating at this location.
With the COVID-19 pandemic in full swing during the marketing of this deal, there was a strong demand for the asset. The combination of CVS being an investment-grade tenant and an essential business, increased investor interest with the added factor that this location is a high-volume store.
For over 25 years, Equity Retail Brokers has been set aside from any brokerage, by having a laser focus in providing our clients with the highest price for their asset at the lowest transaction cost. While we strive to meet a client’s financial goals, we also pride ourselves on client-broker relationships that extend past the closing table.