Cushman & Wakefield’s National Net Lease Group is pleased to present the opportunity to acquire a fee-simple CVS located in Montgomery, Texas. Built in 2015, the 14,600-square-foot property is situated on approximately 2.26 acres and operates under an absolute NNN lease with CVS, providing passive ownership with no landlord responsibilities. Approximately 14 years remain on the initial lease term, followed by five additional five-year renewal options that could extend occupancy through January 2066. The lease provides contractual rental growth, including an approximately 8.2% increase at the beginning of the first renewal option and 5% increases at the commencement of each remaining option. The property is strategically positioned within Woodforest, a growing 3,000-acre master-planned community containing approximately 5,000 homes, 14,000 residents and 90 acres of commercial development. Its location near The Woodlands and Lake Conroe provides access to one of the fastest-growing and most affluent portions of the greater Houston metropolitan area.
Corporate-Backed Absolute NNN Lease
The lease is guaranteed by CVS and structured on an absolute NNN basis, with the tenant responsible for taxes, insurance, maintenance, roof and structure—providing passive ownership with no landlord responsibilities.
Approximately 14 Years Remaining
The initial lease term extends through January 31, 2041, providing long-term contractual income from one of the nation’s leading healthcare companies.
Five Five-Year Renewal Options
The lease includes five additional five-year renewal options that could extend CVS’s occupancy through January 2066.
Contractual Rental Growth
Annual rent increases approximately 8.2% at the beginning of the first renewal option, followed by 5% increases at the commencement of each remaining option.
Investment-Grade Corporate Credit
CVS Health maintains an investment-grade credit rating and operates one of the country’s largest integrated healthcare and retail pharmacy platforms.
Strategic Woodforest Location
The property is located within Woodforest, a highly desirable 3,000-acre master-planned community featuring approximately 5,000 homes, 14,000 residents and 90 acres of commercial development.
High-Growth Montgomery County
Montgomery County is among the fastest-growing counties in the Houston metropolitan area, benefiting from significant population growth, residential development and strong household demographics.
Proximity to Major Demand Drivers
The property is conveniently positioned near The Woodlands and Lake Conroe, providing access to established employment centers, affluent residential communities and year-round recreational demand.