The properties total more than one million sf. The drug stores are located in Alabama, Connecticut, Georgia, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Washington, DC and Virginia.Brett Landes, Wolverine's senior vice president, says the deal is key to CVS' real estate financing strategy. CVS will operate the stores under a long-term lease arrangement that's part of buyout terms. CVS is considered the nation's leading drug store chain and largest retail prescriptions provider, with operations in the northeast, Mid-Atlantic, southeast and Midwest.
In the past two years, Wolverine and Staubach have put together more than $4 billion in single-client transactions. Wolverine's role is to aid Staubach's financial services customize real estate financing options for corporate clients.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
