2001 Pacific Coast Hwy
Lomita, CA 90717
CVS | Recent Lease Extension | 10% Increases · Retail Property For Sale

The subject property is a 14,884 square foot CVS located in the Los Angeles community of Lomita, California. CVS recently exercised their initial option period leaving approximately 6 years remaining on the firm lease term. The lease is structured with 10% rent increases between each of the option periods. The lease has limited landlord responsibilities with the Tenant responsible for all repairs and maintenance of the non-structural portions of the property including the roof. CVS, which is publicly traded on the New York Stock Exchange under the ticker symbol “CVS”, has a current BBB credit rating by Standard & Poor’s and reported annual revenues in excess of $193 billion in 2018. Located at the intersection of Pacific Coast Highway and Eshelman Avenue, the subject property features excellent exposure along the area’s main traffic and retail corridor with daily traffic counts in excess of 61,000 vehicles. CVS is approximately one mile from Rolling Hills Plaza, a 500,000 square foot mixed-use hub of shopping and entertainment for the South Bay. This densely populated area is home to over 198,000 residents within a three mile radius and over 450,000 residents within a five mile radius. The property is located at the foot of the Palos Verdes Peninsula, drawing from the affluent communities of Rancho Palos Verdes, Rolling Hills and Palos Verdes Estate as well as Redondo Beach and the Hollywood Riviera. Average household income in excess of $112,000 within a five mile radius.