The Bogalusa CVS for sale has over 13 years of primary lease term remaining before the ten (5 year) option periods. Bogalusa is located approximately one hour north of New Orleans and an hour east of Baton Rouge just west of the Mississippi/Louisiana border.
“This store was a relocation of two former CVS stores in the Bogalusa market so there is an established customer base which provides strong sales volumes. This CVS is located on Highway 10 in front of a Walmart which is one of the main retail corridors in the community,” explained Jason Stuart Pongsrikul, Managing Principal at Pharma Property Group.
Mr. Pongsrikul continued, “Not only is this CVS located in the top retail corridors in Bogalusa, it also has strong medical support by being located within one mile of one of the largest senior living communities and hospital systems in Bogalusa. Additionally, the Walgreens directly adjacent to the CVS site makes this corner a strategic location for both CVS and Walgreens for years to come.”
“Many CVS properties for sale have rent holidays and have roof and structure landlord responsibilities but this CVS for sale has neither. An investor will benefit from a low maintenance lease structure and have 5% increases in the five year option periods which is more than other typical CVS properties for sale that have either 2% or 3% increases in the option periods,” stated Mr. Pongsrikul.
Based in San Diego, California, Pharma Property Group (www.pharmapropertygroup.com) was founded in 2012 by Jason Stuart Pongsrikul who has closed over $1 Billion in net leased commercial properties throughout the country during the last decade.
Pharma Property Group (PPG) specializes in providing commercial real estate services to landlords who own properties occupied by Walgreens, CVS and Rite Aid. Pharma Property Group is one of the top brokerage firms in the country in drugstore property closing volume and has an unparalleled drugstore marketing platform providing access to the largest pool of drugstore landlords in the nation.
Pharma Property Group
5322 Banks Street
San Diego, CA 92110