Faris Lee Investments is pleased to offer for sale a CVS Pharmacy situated at a signalized
hard corner in Puyallup, WA. CVS is an investment-grade credit tenant (S&P: BBB) with
a market capitalization of $114 billion and TTM revenue exceeding $407 billion.
This location is a top-tier performer, currently ranked as the highest-producing CVS
pharmacy in Washington. The site benefits from a significant recent influx of “scripts”
following the closure of five regional Rite Aid locations, further solidifying its dominant
market share. This high-volume store is supported by two full-time pharmacists and
seven technicians, with a major remodel scheduled for August to include recently
installed coolers, demonstrating a long-term commitment to the site.
CVS Pharmacy has grown into one of the most trusted healthcare brands in the U.S.,
operating over 9,000 locations nationwide with a workforce of 300,000 employees.
As a dominant industry leader, CVS continues to expand its integrated healthcare model,
ensuring its position as a staple of institutional real estate portfolios. This specific location
serves as a critical healthcare hub for the trade area, standing as the only CVS within
the immediate region and one of only three drugstores within a five-mile radius.
The subject property is strategically located at the signalized hard corner of 176th St
and Gem Heights Rd, which sees over 24,000 VPD. It sits as a high-profile outparcel
to a top-performing WinCo Foods, which ranks in the top 10% of the chain with
annual sales exceeding $90 million. The surrounding area features affluent and dense
infill demographics, with over 175,000 residents and an average household income
surpassing $140,000 within a 5-mile radius. This NNN investment offers ideal ease of
management for a passive investor or 1031 exchange buyer, as WinCo oversees the CAM
management. The property’s exceptional sales performance and prime positioning
make it a premier investment opportunity.