Burlington-based Linear Retail Properties has acquired the CVS Pharmacy at 85 High St. in Medford Square for $4.75 million.
The 15,700-square-foot pharmacy fully leased to CVS opened in 1996 and includes a 35-space parking lot.
Newmark Grubb Knight Frank’s Geoffrey Millerd, Justin Smith, Paul Penman and Matthew Waisnor of Newmark Grubb Knight Frank’s capital markets team led by Robert Griffin oversaw the sale on behalf of Case Real Estate Capital of Rochelle Park, New Jersey.
The property has a 3-mile population count of 268,600 residents with average household income of $100,700, NGKF said.
“CVS | Medford represents a unique single-store asset in one of Medford’s most heavily-trafficked areas,” Smith said in a statement. “This store represents a highly-productive location for the tenant, which has consistently performed exceedingly well.”