• CVS Pharmacy is operating on a long-term lease with just under 15 years of remaining term; CVS has been at the location since 2000, and extended their lease through 2037, demonstrating a true commitment to the site.. • CVS Pharmacy is centrally located from multiple hospitals and is just over three (3) miles away from Lower Bucks Hospital (175 beds), Jefferson Bucks Hospital (112 beds) and the soon-to-open, 55,000 square foot Capital Health Hospital.. • Great Clips and the Philly Pretzel Factory have been open and operating at this location for nineteen (19) and thirteen (13) years respectively. Including the CVS Pharmacy, all three retailers have an average tenure at the property of over eighteen (18 years), creating an identity within the surrounding area.. • All Tenants pay their pro rata share of CAM plus admin expenses which vary from 5% to 15%. All leases have a guarantor, including CVS Corporation which offers an investment-grade credit rating of BBB (S&P). Great Clips (4% biennially) and Philly Pretzel Factory (2% annually) enjoy rental increases within the base term, while CVS has a robust 13.5% rental increase next option period.. • The Property is conveniently situated adjacent to a fully signalized, five-way intersection that is exposed to over 31,000 vehicles per day. It is centrally located one (1) mile from ~6,000 students including over 3,000 students at Pennsbury East High School and 1,500 students from Bucks County Technical High School.. • Just twenty-seven (27) miles north of Philadelphia, the property is located within the densely populated and affluent Bucks County, which is the 3rd wealthiest county in the State of Pennsylvania. There are about 200,000 residents within five miles of the property with an average household income of $118,000.
- Property Type
Retail
- Year Built
1999
- Total Building Size
1,800RSF
- Total Available
1,800RSF
- Last updated
Dec 15, 2023
- Property ID
2231024
