Philadelphia, PA EagleBridge Capital has arranged acquisition/permanent mortgage financing in the amount of $7 million for a recently-opened NNN leased CVS pharmacy. The financing was arranged by EagleBridge principal, Ted Sidel.
The class A single story freestanding building contains 14,700 s/f and is situated on a 1.8 acre site with 59 parking spaces at the signaled intersection of Knights Rd. and Liberty Bell just north of Woodhaven Rd., a six lane state highway which connects to I-95.
The CVS is located in a densely populated, middle-income community with a population of over 109,000 within a three-mile radius. The property benefits from a strong location adjacent to the 205,000 s/f Philadelphia Marketplace Shopping Center whose tenants include Big Lots, Dollar Tree, and Harbor Freight, and the 225,000 s/f Liberty Plaza anchored by Dick’s Sporting Goods and Ramour & Flanigan.
Also in the area are Home Depot, Walmart Supercenter, Sams’s Club.
CVS Health is the largest pharmacy chain in the US by total prescription revenue with over 9,900 locations. CVS has in excess of 30 percent market share in Philadelphia amongst all drug store brands.
EagleBridge Capital is a Boston-based mortgage banking firm with over 25 years’ experience in arranging debt and equity financing as well as joint ventures for apartment, industrial, office, and r & d buildings, shopping centers, hotels, condominiums and mixed-use properties as well as special purpose buildings. EagleBridge Capital is a member of Commercial Real Estate Capital Advisors (CRECA), a national association of independent commercial mortgage banking firms.