Chicago, IL (April 6th, 2021) – Quantum Real Estate Advisors, Inc. has brokered the sale of a single-tenant CVS Pharmacy located at 4128 E Lancaster Avenue in Fort Worth, TX. The property sold for $5,500,000. CVS had recently renewed its lease, committing to an additional 15-year term. The Seller was a New York City based investor. The buyer was a Chicago based 1031 buyer. Dan Waszak, Executive Vice President of Quantum Real Estate Advisors, Inc., represented the Seller in the transaction.
Mr. Waszak had the following comments regarding the transaction, “This is yet another example of the resiliency the net lease sector. CVS’s recent long-term commitment shows the continued need for retail locations.” Mr. Waszak continued, “1031 buyers continue to find net-leased pharmacy assets to be attractive replacement properties. We don’t anticipate this trend changing.”
Quantum Real Estate Advisors, Inc. (www.QREAdvisors.com) specializes in investment sales brokerage, assisting clients in the acquisition and disposition of commercial real estate. Quantum has the capacity through strategic alliances to offer full-service leasing brokerage, receivership, management and financing.