MASSACHUSETTS CVS SELLS FOR $6.47 MILLION

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HAVERHILL, MASS. — Marcus & Millichap has brokered the sale of a CVS/pharmacy in Haverhill for $6.47 million. The property totals 11,970 square feet and is located at 150 Lafayette St. CVS has 23 years remaining on its lease with six 5-year extension options. The property traded at a 7.7 percent cap rate. Robert Horvath, Todd Tremblay and Al Taf of Marcus & Millichap represented the seller, Hecht Development. Horvath and Tremblay also procured the buyer, Quadrant Haverhill Real Estate.

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