Buying a CVS Location:
Public/Private: Public
Stock Symbol (if applicable):
CVS
S & P Credit Rating: BBB+
# of locations: 7,000+
CVS Caremark Corp. is the
largest provider of
prescriptions in the United
States with more than one
billion prescriptions filled
annually. CVS operates more than
7,000 pharmacy stores in 43
states. In 2008, CVS acquired
Long’s Drugs (over 500 retail
drug stores) as a part of their
continued expansion. CVS was
ranked 19th on the
Fortune 500 for 2009.
CVS leases are typically a 22
year initial term with
additional 5 year options.
Freestanding sites at major
intersections with drive-thru
capabilities are preferred. Free
standing sites are typically 1.5
– 2 acres with a building size
of 12,900 square feet.
CVS is one of the most
popular drugstores in the world,
it almost seems that no matter
where you turn your head you are
bound to see a CVS, many people
don’t know the long story behind
the company that leads it all
the way to its growth. Started
in 1963 by two brothers, this
small town shop grew over
the years to become a household
name in the United States. In
just their second year of being
open this company opened a total
of 17 stores. The number of
stores they had to their names
continued to rapidly grow year
after year.
If you’ve ever been inside of a
CVS you will know that their
main goal is keeping their
customers happy. The staff is
always knowledgeable and goes
through
extensive training to
make sure that they can help
each and every customer in every
way possible. From 1962 to now
there has been more changes in
the CVS Caremark company than
you can count, of course its
hard to keep track when you are
buying multiple stores every
year, and even over 1,000 Eckerd
stores at one point in time. CVS
appeals to most customers mainly
because it has everything they
need in such a small sure, its
also very convenient. Customers
can purchase their everyday
goods while picking up their
next prescription of medicine.
The CVS company has been growing
constantly over the years and
seems to be able to sustain its
earnings in everyway possible,
if you are considering a lease
with a CVS company don’t
hesitate to contact us for more
information. We would be more
than glad to help with any of
your questions or concerns with
the issue.
Our Take:
CVS is a strong national company
with a good track record. With
the baby-boomer era approaching
retirement, we see CVS and
Walgreen’s as conservative real
estate investments because of
the simple fact that
prescription drug demand will
continue to grow.
