Fresno, CA
- Rare California drugstore leasehold offering with zero landlord responsibilities.
- Over 400,000 residents in a 5-mile radius.
- Across from Fashion Fair Mall (410,500 SF) anchored by Macy’s & JC Penny’s.
- Highly trafficked intersection with combined ±113,000 vehicles per day.
- Near California State University Fresno with ±25,000 students and ±3,000 employees (2 mi E).
- Main and main retail corridor location with 31 million square feet of retail space in 5-mile radius.
- 16 million square feet of industrial space in a 5-mile radius including Amazon and GAP/Old Navy distribution centers that total approximately 2.9 million square feet.
Pharma Property Group is pleased to market for sale the CVS leasehold interest located at 3100 Geer Road in Turlock, California (“The Asset”). CVS has over 11 years remaining on the initial term of their lease with 10 (5-year) options to renew. CVS has been operating successfully at this location for over 14 years. The Asset is being offered as a leasehold interest allowing for an investor to receive a high return and have the full tax benefits of building depreciation. The Asset will be delivered free/clear of debt.
The Asset is located directly across from the 410,500 square foot Fashion Fair Mall anchored by Macy’s and JC Penny’s. This is a highly trafficked intersection in the main retail corridor of Fresno with a combined traffic count of over 113,000 vehicles per day. There is approximately 31 million square feet of retail space within a 5-mile radius. Located just three miles northeast of the Asset is St. Agnes Medical Center medical Center, a 384 full service hospital with approximately 2,000 medical and support staff.
Both Amazon (855,000 SF) and GAP/Old Navy (2,000,000 SF) have distribution centers located within a 10-mile radius of the Asset and near to the Fresno/Yosemite International Airport. There is approximately 16.7 million square feet of industrial space within a 5-mile radius of the Asset.
