The subject offering is the opportunity to acquire fee simple interest in a free standing CVS Pharmacy property, with a brand new 20 year corporate guaranteed lease. The freestanding building totals 15,251 SF situated upon approximately 54,014 SF (1.24 AC) of land located at the busy intersection of Challenger Way and East Avenue J in the City of Lancaster, County of Los Angeles. The property is a part of Challenger Square Shopping Center which has maintained a high level of occupancy even during the current economic downturn. The recent opening of Superior Grocers and 99 Cents Only across the street has further enhanced and strengthened the draw to the intersection and has magnified the prominence of the location as the retail hub for the surrounding neighborhoods. The site is supported by existing residential communities with potential for additional housing units.