17 Jan Sale of CVS located in Bakersfield
Secured Properties congratulates Ryan Yatman and Jay Chu on the sale of a Single Tenant CVS located in Bakersfield. The property is approximately 25,000sf and an in-line store of a larger shopping center. The CVS was into their 2nd 5 year option period with 4 additional 5 year options left with no annual increases. The Seller was thrilled to unload the property for $2,500,000 as it no longer conforms with the current model of free-standing drive-thru CVS stores. The sale closed January 2013.