CVS

INVESTMENT HIGHLIGHTS

• Long Term Operating History: CVS has been operating at this location for 27+ years and has already exercised their three, 5-year options showing their long-term commitment to this location and the store’s continued success.
• Top MSA: The Greenville-Anderson-Greer MSA is the largest in South Carolina with approximately 975,480 residents currently and is expected to surpass 1,000,000 within the next 2 years. Mauldin itself has a 10-Mile population of 425,310.
• Key Developments: Located less than two miles from the subject property, Bridgeway Station celebrated its grand opening in April 2024 featuring several mixed-use complexes along a vibrant main street. The development includes ground-level retail, upper-floor residences and office space, as well as designated locations for two hotels and a movie theater. It marks the first phase of a larger project totaling over 1 million square feet of apartments, offices, retail, dining, lodging, and entertainment. In October 2024, plans were announced for a 10,000-seat multi-use stadium adjacent to Bridgeway Station. These and other nearby developments are rapidly attracting new residents, driving economic growth, and increasing property values.
• Strong Local Demographics: There are +130,000 residents in a 5-mile radius of the subject property with an average household income of over $125,000. Since 2020, the city of Mauldin has experienced a population growth of well over 10%.
• Unique Opportunity: This deal offers the buyer the unique opportunity to negotiate a new lease with the existing/new tenant or redevelop a proven retail location in the heart of South Carolina’s largest MSA.
• New Roof in 2021: CVS is operating on a NN lease. The landlord is responsible for roof and structure, with the roof recently replaced in 2021.
• Corporate Guarantee: Lease is corporately guaranteed by CVS (NASDAQ: CVS)