Property Description
HMX Realty is pleased to present the exclusive listing for a trophy, 14,576 square foot CVS on 1.74 acres in the Los Angles MSA. The lease is absolute triple net with 13.5 years remaining. CVS 100% guarantees the lease in which they are responsible for all property expenses including roof and structure as well as the continuation of rent event in the event of casualty and condemnation.
This property is being offered on a free and clear basis. CVS has a three-year rent holiday starting in February 2034 and ending in January 2037. Seller will purchase US Treasuries which will mature over the rent holiday ensuring the purchaser has no interruption in rent. Alternatively, the Buyer can receive the cash equivalent of the cost of the bonds at closing.
There is virtually no possibility of rent abatement during the last three years of the lease as the rent is covered by US Treasuries.
