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3/09/23
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A California-based private investor paid $6.13 mil for a 13.4k sf ($457/sf), single-tenant retail occupied by CVS Pharmacy. CVS is on an absolute triple net lease which has just over 23 years remaining.
Built in 2020, the property, situated on 2.3 acres at 1933 Heritage Trace Pkwy in Ft. Worth. The population within a three-mile radius of the property is just over 108,000 with an average household income of more than $110,000.
Matt McNeill with SRS Real Estate Partners’ National Net Lease Group represented the buyer in the deal. The seller was repped by Thomas Company.
“The buyer was a repeat client and paid all-cash for this asset,” said McNeill. “The high-quality property is well-located in a densely populated and growing Texas market and it will provide the new ownership long-term cash flow and no landlord responsibilities.”
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