Consolidated Tomoka Acquires CVS Ground Lease in Dallas for $14.9M

DALLAS — Consolidated-Tomoka Land Co. has acquired 0.91 acres at 2501 N. Field St. in Dallas for $14.9 million. The property is leased to a 10,340-square-foot CVS Pharmacy for an initial term of 25 years and guaranteed by CVS Health Corp. The property is located near downtown Dallas one block from the American Airlines Center. The zoning of the property allows for potential future development of approximately 400,000 square feet of commercial space. This acquisition was part of a 1031 tax-deferred exchange.