84010 Avenue 50
Coachella, CA 92236

The subject property is a 12,900 square foot CVS located in Coachella, California. CVS signed a 25-year lease which commenced in 2009 and runs through July of 2034 leaving approximately 11 years remaining on the initial term. The lease provides CVS with ten 5-year renewal options thereafter.
The lease is absolute net providing for zero landlord responsibilities. 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 $268 billion in 2020.
Located at the intersection of Avenue 50 and Van Buren Street, the subject property is positioned along two of the area’s main traffic thoroughfares with combined daily traffic counts in excess of 16,200 vehicles. The surrounding community is densely populated with residential communities and is home to over 76,000 residents within a three-mile radius and over 135,000 residents within a five-mile radius.
The immediate area is experiencing rapid development with a myriad of projects. The Van Buren Plaza Project, which is diagonally across from CVS, is a proposed 18-acre mixed use project which will include over 81,000 square feet of retail space, a 93-room hotel and a 72-unit multi-family complex. Additionally, the subject property is approximately a half mile east of the new Ravella development which is slated to include 115 single family residences, a 5-acre commercial component and a 40,000 square foot Borrego Health medical clinic. The Empire Polo Club which is home the Coachella and Stagecoach music festivals, is approximately two miles west of the subject property and hosts over a half million visitors annually.