Inland Real Estate acquires 24 CVS pharmacies in 14 states

OAK BROOK — Inland Real Estate Acquisition has facilitated the acquisition of 24 newly developed CVS Pharmacy properties, totaling 276,466 square feet across 14 states, for a total purchase price of more than $116 million.

The CVS Pharmacy properties are located in Arkansas, Georgia, Illinois, Kentucky, Louisiana, Michigan, Minnesota, New York, Ohio, Pennsylvania, South Carolina, Texas, Virginia and Wisconsin.

Joe Cosenza, vice chairman of The Inland Real Estate Group and president of Inland Real Estate Acquisitions, facilitated the transaction on behalf of an Inland affiliate.

“We are pleased to have found a group of virtually brand new CVS Pharmacy stores, which are all located in strong performing markets across the country,” said Cosenza. “This was an attractive acquisition opportunity due to the fact that each store was under a new 25-year absolute triple net lease that CVS Health Corporation guaranteed for each CVS Pharmacy property.”