OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Real Estate Acquisitions, Inc. announced today that it 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. Joe Cosenza, vice chairman of The Inland Real Estate Group, Inc. 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.”
The CVS Pharmacy properties are located in Arkansas, Georgia, Illinois, Kentucky, Louisiana, Michigan, Minnesota, New York, Ohio, Pennsylvania, South Carolina, Texas, Virginia and Wisconsin.
To date, Inland Real Estate Acquisitions, Inc. has facilitated almost $44 billion of purchases including retail centers, apartments, medical office, student housing, self-storage facilities and single-tenant properties.
About Inland Real Estate Acquisitions, Inc.
Inland Real Estate Acquisitions, Inc. is the purchasing arm for various entities that are a part of The Inland Real Estate Group of Companies, Inc., a group of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored or managed by Inland Real Estate Investment Corporation or its subsidiaries (collectively, “Inland”). For additional information, please refer to Inland’s website at www.inlandgroup.com.