CVS - Quincy MA

321 Quincy Shore Drive
Quincy, MA 02170


JLL is pleased to offer for sale the fee-simple interest in a single-tenant, freestanding CVS Pharmacy (the “Property” or “Asset”) located in Quincy, Massachusetts. Situated on Quincy Shore Drive, the Asset is subject to a double net (“NN”) lease, leased to CVS Pharmacy (the “Tenant”), and features minimal landlord responsibilities. This store has exhibited outstanding unit-level sales volume performance, further strengthened by the Tenant’s long-term commitment to the location evident through its new 20 year extension set to commence in February 2020. This offering represents an exceptional opportunity to acquire a valuable property with strong performance, leased to an investment-grade tenant.
  • Primary Broker

    Peter Furest - Net Lease Broker
    Peter Furest
    (212) 812-5802

  • Secondary Broker(s)

    Nat Heald - Net Lease Broker
    Nat Heald
    (617) 316-6467

  • David Maloy - Net Lease Broker
    David Maloy
    212 812 5957

  • In-State Licensee

    John Linell - Net Lease Broker
    John Linell


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Investment Highlights
Strong Market Performance - The Asset has demonstrated strong performance since its inception, evident by CVS’s long-term commitment to this location through a brand new 20 year extension commencing in February 2020.
Long Remaining Lease Term - The Asset is operating under long term lease with over 23 years remaining. CVS has positioned themselves for longevity at this location and will continue its dominance of the pharmacy market
in Quincy for years to come.
Investment Grade Tenancy - CVS Health Corporation operates over 9,600 stores in the United States and Puerto Rico and boasts a BBB+ credit rating from Standard & Poor’s with a market capitalization of $86.18 billion.
Free and Clear of Existing Financing - The Asset will be transferred free and clear of debt. Investors will be able to capitalize on today’s attractive debt markets and secure highly aggressive and favorable financing.
Property Type Retail
Property Address 321 Quincy Shore Drive
Quincy, MA 02170
Market MA-Boston
Land In Acres 1.54
Building Size 10,600 Square Feet
Primary Use Drug Store
Secondary Use None
Year Built 1999
Tenancy Single-Tenant
Price $4,625,000
Price PSF $436.32
Cap Rate 4.95%
Current NOI $229,000
Tenant Name CVS
Guarantor CVS Health
Credit Rating (Moodys) Baa1
Credit Rating (S&P) BBB+
Lease Type NNN
Annual Rent $229,000
Rent PSF $21.60
Rent Escalations Flat through remaining term and then 9.1% in each option
Options 2 X 10-Year Options
Lease Expiration Date 1/31/2040
Remaining Term 22.7Yrs