SALISBURY, MD, NOVEMBER 2020- Matthew Trader of Rinnier Development Company recently brokered the sale of an off-market CVS property located in Martinsville, Virginia for $3.55 million. The property was purchased by a local investor; who Trader represented. This was a very attractive asset for Trader’s client, as it is an absolute net lease deal with zero landlord responsibility, stabilized by fresh new twenty year CVS lease. This marks the second CVS Store that Trader has sold in the past few months.
These are the types of deals that I love working on. Net Lease acquisitions are one of the things that our firm specializes in. Often our clients are looking for very specific deal types and what they are looking for is not always on the market, so we hunt for it. It helps to have strong relationships with brokers, developers, and investors on the local and national level. It gives our clients access to deals that not everyone is aware of. This deal, in particular, was an off-market, private sale, that matched my client’s criteria. When it comes to income producing real estate, an Absolute Net CVS property with a fresh twenty-year term, is one of the most stabilized assets you can own right now. It’s a great a product.
Matthew Trader specializes in the sale, leasing and marketing of commercial properties. To contact Matthew, please call 443-614-4297, or email mtrader@rinnier.com.
