NAI Hunneman brokers sale of 3 CVS Pharmacy locations in Mass. for $9.2 million

NAI Hunneman, a leading provider of commercial real estate services to corporations, institutions and the private market, has brokered the sale of three freestanding CVS Pharmacy locations in Mass. for a combined price of $9.2 million. Jonathan Aron, vice president of NAI Hunneman, brokered the sale of two Cape Cod stores located at 1030 Putnam Ave. in Marstons Mills and 176 North St. in Hyannis to One Liberty Properties. The third store located at 1933 Main St. in Brockton was purchased by Main St. Brockton, LLC. All three locations were sold by an entity affiliated with Brockton-based Coffman Realty, a developer of retail properties in southern N.E. Aron represented the seller in all transactions and procured the buyers. CVS Pharmacy will continue to lease and occupy these freestanding locations. Each property has approximately 10-years of lease term remaining and were purchased with existing debt in place. "This CVS portfolio sale shows strong investor interest in freestanding and long-term leased retail properties in the region," said Aron. "We are looking forward to working with our clients who are seeking middle market investment opportunities in net-leased and shopping center properties."

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