CVS leased NNN Investment Property sold

Above: Photo: stylephotographs / 123RF Stock Photo Real Estate | 11 Mar, 2016 |

ORION Investment Real Estate announced the sale of an NNN Investment property leased to CVS, near Ellsworth and Broadway Roads, for $3,375,000.

The property was sold by SCP 2004E-014, LLC and purchased by JKB Properties, LLC.

“This is one of a few properties I am assisting my client in the acquisition to perfect his 1031 Exchange. This property was identified because of the location in Mesa and the long-term lease with a great credit tenant,” said Nick Miner, CCIM, senior vice president at ORION Investment Real Estate.

This 13,504 square-foot freestanding building is fully leased to CVS/pharmacy under a long term agreement. The property was built in 2004.

The property is less than one half mile from Loop 202, a vital connector between Mesa, Phoenix, Tempe, Chandler and Gilbert, and also three miles from U.S. Highway 60, which offers ease of access from surrounding areas.

The store is 2.5 miles from Mountain Vista Medical Center (178 beds), a premier medical facility and hospital of choice for the community, which offers emergency medicine, heart care, diagnostic imaging, surgical services, women’s health services, wound care and a pain management center.

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