MONTGOMERY, ALA., AND DOUGLAS, GA. — New Hope, Pa.-based National Net Lease Realty has arranged two sales of triple-net leased CVS/pharmacy properties in Alabama and Georgia. National Net Lease Realty’s Terry Marks represented the seller, a Southern California-based limited liability company, in the $4.2 million sale of a 13,706-square-foot CVS/pharmacy property that was built in 2005 at 3050 Zelda Rd. in Montgomery. Another West Coast-based limited liability company purchased the property, including the assumption of a CMBS loan through Wells Fargo. CVS/pharmacy has 19 years remaining on its lease.
Marks also facilitated the $3.7 million sale of a 10,880-square-foot CVS/pharmacy at 912 W. Ward St. in Douglas. The pharmacy and retail company has 19 years remaining on this Georgia triple-net lease as well. Marks represented the seller, a Southern California-based limited liability company. A West Coast-based limited liability company purchased the property, which also includes the assumption of a CMBS loan through Wells Fargo.