Weiss Realty Co. secures CVS/Pharmacy for 25-Year ground lease at Berkeley Heights Shopping Ctr.
Berkeley Heights, NJ — Weiss Realty Co. announced that CVS Pharmacy, the second largest pharmacy chain in the United States, has signed a long term , 25-year ground lease at the Berkeley Heights Shopping Center located at 400 Springfield Ave in affluent Berkeley Heights. The new drive-thru pharmacy store is approximately 13,000 s/f, located on a 1.2 acre pad site at the entrance to the 62,000 s/f shopping center.
“We are proud to welcome CVS to the Berkeley Heights Shopping Center,” said Matthew Weiss, vice president and licensed real estate broker for Moonachie-based Weiss Realty Co. Inc. “The visibility of the store and demographics of the community are outstanding.” Weiss Realty Co. represented both the developer, First Hartford Realty Corporation and the landlord, Berkeley Development Company, L.P., a family owned limited partnership during the negotiations. This is the second CVS/Pharmacy location that Mr. Weiss has closed for Weiss Realty Co. He also negotiated a long-term ground lease on behalf of First Hartford Realty Corporation and CVS/Pharmacy for the 13,000 square foot drive-thru pharmacy on a 1.88 acre property located at 80 Piermont Road in Cresskill, NJ.