The Boulder Group Arranges Sale of CVS In Indianapolis MSA

The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased CVS Pharmacy property located at 6511 Whitestown Pkwy in Zionsville, Indiana for $4,534,000.
(Wilmette, IL- September 11, 2026) - The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased CVS Pharmacy property located at 6511 Whitestown Pkwy in Zionsville, Indiana for $4,534,000.

The CVS Pharmacy is located at 6511 Whitestown Pkwy in Zionsville, Indiana, near the interchange of Interstate 65 and Whitestown Parkway. Whitestown Parkway carries approximately 13,000 vehicles per day. The property is situated in Boone County, within the Indianapolis-Carmel-Greenwood, IN Metropolitan Statistical Area. The Indianapolis MSA has a population of approximately 2.2 million residents and ranks among the 35 largest metropolitan areas in the United States. Zionsville's population reached approximately 34,187 residents in 2026. Zionsville's population grew by more than 11% since the 2020 U.S. Census. The median household income in Zionsville is approximately $172,024. A new Kroger Marketplace and fuel center is under construction at the interchange of Interstate 65 and Whitestown Parkway, less than one mile from the property. The $35 million Kroger development is expected to employ 325 people. An existing Kroger supermarket also operates nearby at Boone Village. Zionsville Community High School, with an enrollment of 2,338 students, is part of the Zionsville Community Schools district. Zionsville West Middle School, with an enrollment of 1,087 students, is also part of the district. Zionsville Community Schools serves approximately 7,300 students in total. Zionsville, Indiana consistently ranks among the wealthiest and fastest-growing suburbs of Indianapolis, Indiana.

Randy Blankstein, Jimmy Goodman and John Feeney of The Boulder Group represented both parties in the transaction. The seller was a west coast based real estate fund. The buyer was a west coast based repeat 1031 exchange buyer.

The CVS Pharmacy operates under a triple net (NNN) lease. Approximately 15 years of primary lease term remain on the lease. The landlord has zero ongoing property management responsibilities under the NNN lease structure.

CVS Health Corporation, the parent company of CVS Pharmacy, is headquartered in Woonsocket, Rhode Island. The company was founded in 1963. CVS Health operates approximately 9,000 retail pharmacy locations across the United States. The company employs approximately 300,000 people nationwide. CVS Health's operations span retail pharmacy and consumer wellness, pharmacy benefit management through its CVS Caremark business, and health insurance through its Aetna subsidiary, which serves more than 35 million members. The company also operates MinuteClinic, a network of retail health clinics offering walk-in medical services. CVS Health carries an investment-grade credit rating.

"We were able to move quickly to get it under contract and closed for our buyer," said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, "Our buyer was completing a 1031 exchange and wanted a passive, well-located asset with a long lease term, and this CVS checked every box for that strategy." John Feeney, Senior Vice President of The Boulder Group, noted, "Investor demand for pharmacy net lease assets in strong suburban markets like Zionsville has stayed consistent, even as buyers have gotten more selective across the broader retail sector."

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $11 billion of single tenant net lease real estate transactions. From 2015-2025, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both CoStar and MSCI Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.

www.bouldergroup.com [https://www.bouldergroup.com/]

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