Description

The subject property is an approximate 13,013 square foot, single tenant CVS Ground Lease located at1000 East Tarpon Springs Avenue in Tarpon Springs, Florida. The building was built in 2007 and issituated on a 1.33 acre site. The site is NNN in nature with no landlord responsibilities. CVS Corporation has signed a 25-year primary lease term which commenced in September 1, 2007.The subject property is situated on the southeast corner of US Highway 19 and East Tarpon Avenue inTarpon Springs, Florida. The property is located off of US Highway 19; a six-lane highway running northand south with over 65,000 vehicles a day. East Tarpon Avenue runs east and west with over 26,000 carsper day. CVS Corporation purchased the site directly to the south, while earlier negotiations for the current location were unsuccessful. The area is known as a bedroom community of greater Clearwater andincludes abundant residential development within the neighborhood boundaries. Residential homes rangefrom $150,000 to $3,000,000. The site was a relocation of an inline location directly across the street inthe Publix Shopping Center.The property has two access points; one off of East Tarpon Avenue and the other from a side streetleading to residential to the east. Retailers in the area include Publix, McDonalds, TJ Maxx, Bank ofAmerica, Subway, Kmart, Staples, Big Lots, Bealls, Blockbuster, Taco Bell, Office Depot, Chilis, RegionsBank, Starbucks, Arbys and West Marine.

Area Description

Tampa/Clearwater is located in the west central portion of Florida bordering the Gulf of Mexico.Tampa/Clearwater is located 80 miles west of Orlando, 80 miles north of Port Charlotte and 120 miles northof Fort Meyers.Based upon the 2000 Census, the national demographics consulting firm Claritas has estimated that for2007 there are approximately 129,095 residents and 55,892 households within a five-mile radius of theProperty. According to Claritas, the average household income within a five-mile radius of the Property was estimated to be $67,053.

Contacts

• Mr. Ryan O'Connell
  Vice President
  
  Acquisitions
  Phone 602-424-3419
  Fax 602-956-4494
  Mobile 602-790-9036
  E-Mail ryan.oconnell@arciterra.com

Company