Chicago, IL (January 13th, 2021) – Quantum Real Estate Advisors, Inc. has brokered the sale of a single-tenant CVS located in Cleveland, OH. The property was originally built in 2000 and features high-quality, all-brick construction. CVS was near the end of an original 20-year lease when a new, 12-year, absolute net lease extension was signed. The Seller was an east coast-based investor and the buyer was a NYC-based investor. The Buyer was represented by Daniel J. Waszak, Executive Vice President of Quantum Real Estate Advisors, Inc.
Mr. Waszak had the following comments regarding the transaction, “This transaction was the first of a multi-leg 1031 transaction with this buyer. He was attracted to the recent long-term renewal of the lease along with the strong credit of the tenant.” Mr. Waszak continued, “this is yet another example of the strength and desirability of the strong credit pharmacy market. We are continuing to see demand for well-located, long-term leased pharmacy properties.”
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.