### Net-Leased CVS Property in Ohio Changes Ownership
**Westerville, OH** – Marcus & Millichap has successfully brokered the sale of a net-leased CVS property in Westerville, Ohio.
“With a prime location at a high-traffic intersection handling 60,000 vehicles per day, this CVS attracted strong investor interest,” said Mitch Grant, associate at Marcus & Millichap. “As drugstore closures create opportunities for backfill tenants and end-users, properties in strong trade areas with replaceable in-place rents remain a top focus for active buyers.”
Grant, along with Nicholas Kanich, investment specialists in Marcus & Millichap’s Chicago Downtown office, exclusively represented the seller, a private investor. They also secured the buyer, a public real estate investment trust (REIT). Michael Glass serves as the firm’s broker of record in Ohio.
Located at 620 S. Cleveland Ave., the 9,872-square-foot, single-tenant property is leased to CVS under a long-term absolute triple-net lease. CVS has operated at this location since its construction in 2000 and has more than three years remaining on the current lease, with nine renewal options that could potentially extend the occupancy until 2070.
