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The Boulder Group Arranges Sale of Net Leased CVS Pharmacy in Williamsburg, Virginia Within the Virginia Beach MSA
The 9,963-square-foot property has an absolute triple-net lease and about 3 years remaining on the current term, The Boulder Group said.
- The Boulder Group, a net leased investment brokerage firm, completed the sale of a CVS pharmacy at 700 Merrimac Trail in Williamsburg, Virginia, for $2,200,000.
- CVS operates the property under an absolute NNN lease requiring zero landlord responsibilities for taxes, insurance, or maintenance, while the tenant maintains an investment-grade credit rating.
- John Feeney, Senior Vice President of The Boulder Group, noted the property's strong positioning within an affluent community where average household incomes exceed $131,000 within five miles.
- CVS has continuously operated at the location since 1998 and renewed the lease in 2022, demonstrating tenant commitment near the College of William and Mary, which enrolls over 9,700 students.
- The current lease expires on January 31, 2029, leaving approximately three years of remaining term; four 5-year renewal options provide potential occupancy extending through 2049.
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Total News Sources47
Leaning Left6Leaning Right3Center20Last UpdatedBias Distribution69% Center
Bias Distribution
- 69% of the sources are Center
69% Center
L 21%
C 69%
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