Faris Lee Investments Arranges $4.88 Million Sale of Single-Tenant CVS/pharmacy

by Katie Sloan

Vallejo, Calif. — Faris Lee Investments has arranged the $4.88 million sale of a 16,500-square-foot single-tenant, triple-net lease CVS/pharmacy located in Vallejo.

The transaction has a capitalization rate of 4.3 percent, the lowest recorded for a single-tenant CVS/pharmacy-occupied property. Christopher DePierro and Jeff Conover of Faris Lee represented the seller, Rivers Rock Vallejo LLC, and LemRx Realty Advisors represented the buyer, Calpine Corp., in the transaction. The property is currently under construction, and will open in October. 

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