ADVERTISEMENT
The single-tenant retail space 99 Greenwich Ave. in Greenwich has been sold for $30 million.
The property is leased to a CVS outlet through January 2038. Jeffrey Dunne, David Gavin and Travis Langer of CBRE”™s National Retail Partners and Will Pike of CBRE”™s Net Lease Property Group represented the owner, Midwood Investment & Development, in the sale and procured the buyer, an institutional investor whose name was not made public.
“The property provided a unique opportunity to purchase a high volume, long-term CVS in one of the most prestigious retail markets in the U.S.,” Dunne said. “CVS”™ lease through 2038 combined with 10 percent rent bumps every five years, will provide the purchaser with stable income for years to come.”
