- Rare California drugstore leasehold offering with zero landlord responsibilities.
- Across from Cal State Stanislaus with 10,000 Students and ±2,600 Staff on 228 Acres.
- Highly trafficked intersection with a combined ±43,900 vehicles per day.
- One Mile from Emanuel Medical Center with 209 Beds and ±1,400 employees.
- Amazon fulfillment center with ±1,500 employees on 1.1 million square feet just 3.5 miles southwest.
- 5.6 million square feet of retail space in a 5-mile radius including 4 retail centers totaling 468,216 SF.
- 7.7 million square feet of industrial space in a 5-mile radius including US Cold Storage warehouses on 39 acres 4.5 miles southwest.
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 California State University Stanislaus' 228-acre campus which hosts approximately 10,000 students and employs about 2,600 staff. This is a highly trafficked intersection in the main retail corridor of Turlock with a combined traffic count of over 43,900 vehicles per day. There is approximately 5.6 million square feet of retail space within a 5-mile radius which includes four retail shopping centers within blocks of the Asset totaling ±468,216 square feet of retail space. Located just one mile southeast of the Asset is Emanuel medical Center, a 209 full service hospital with approximately 1,400 medical and support staff.
The Amazon Fulfillment Center located about 3.5 miles southwest of the Asset is one of the major employers of Turlock with approximately 1,500 employees. There is approximately 7.7 million square feet of industrial space within a 5-mile radius of the Asset.