December 14, 2018 – Todd Tremblay and Bob Horvath of Horvath & Tremblay have successfully completed the sale of CVS and China Star in Warwick, Rhode Island. Horvath & Tremblay represented the seller and procured the buyer in the transaction that closed at a sale price of $5,269,658.
The property contains 14,846 square feet on a 1.34-acre parcel with multiple points of access, ample parking and a CVS Pharmacy drive thru. CVS Health leases 90% of the gross leasable area (13,396 SF) while China Inn Restaurant leases 10% of the gross leasable area in a corner unit at the front of the Property (1,450 SF).
The Property is located along Post Road near T.F. Green Airport, U.S. Route 1 and Interstate 95. The Property sits strategically between two healthcare industry neighbors – The Kent Center, a provider of mental health, substance abuse and mental trauma services to over 4,000 patients per year, and Fresenius Kidney Care & Dialysis of Warwick. The Property benefits from its location within a densely populated area with over 165,000 people residing within a 5 mile radius.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.