Essential Net Lease is the pharmacy-focused practice of Fortis Capital Solutions — specializing exclusively in Walgreens, CVS, and Rite Aid investment sales nationwide. Deep sector expertise. Institutional reach. Unmatched pharmacy property deal flow.
Pharmacy properties — led by Walgreens, CVS, and Rite Aid — are among the most sought-after assets in net lease real estate. Here's why investors trust them.
CVS Health is a Fortune 5 company with investment-grade credit ratings (BBB), while Walgreens — now privately held by Sycamore Partners — operates approximately 8,500 locations nationwide. Their corporate-guaranteed leases and essential-service business models provide institutional-quality income backed by two of the largest pharmacy operators in the country.
Most pharmacy properties operate on absolute triple-net leases with zero landlord responsibilities. The tenant pays all taxes, insurance, maintenance, and capital expenditures — delivering truly passive income for investors.
Drugstore leases typically carry 20–25 year initial terms with multiple renewal options. Pharmacy is recession-resistant and essential — people need prescriptions in any economy, making these assets exceptionally durable.
Pharmacies occupy premier hard-corner locations with high traffic counts, strong visibility, and dense population coverage. The underlying real estate holds significant value independent of the lease.
Well-located pharmacy properties with strong lease terms have historically demonstrated consistent value appreciation, making them ideal long-term holds and reliable 1031 exchange replacement properties.
Pharmacies are healthcare providers, not just retailers. With millions of prescriptions filled daily, an aging population, and expanding vaccine and clinic services, the pharmacy sector's fundamentals continue to strengthen.
VP Advisory Services, Fortis Capital Solutions
With over twenty years of experience and more than $1 billion in personally brokered transactions across 31 states and the District of Columbia, Peter Wenzler leads Essential Net Lease — the pharmacy-focused net lease practice within Fortis Capital Solutions. He specializes exclusively in the disposition and acquisition of Walgreens, CVS, and Rite Aid properties nationwide, bringing deep sector expertise in pharmacy lease structures, tenant credit, and drugstore real estate valuation.
A graduate of the Richard T. Farmer School of Business at Miami University with degrees in Finance and Economics, Peter combines institutional resources — including access to over 177,000 verified buyers — with the personal attention of a dedicated pharmacy specialist.
Learn MoreWe focus on the three dominant pharmacy brands in net lease real estate. This specialization means deeper knowledge, better pricing, and faster execution for our clients.
Our clients consistently rely on us for results that exceed expectations.
Within days of signing the listing, Fortis was able to procure several offers due to the strength of their national marketing platform. Ultimately, they procured 12 offers in the first 14 days of marketing.
They not only gave important insight and market color, but outperformed their peers in all facets of the process including LOI generation, contracts signed, and ultimately closing sales at prices closer to ask than the competition.
We have been working with Fortis for many years and highly recommend their advisory services to any company seeking sale leaseback representation. You can trust them to deliver the highest quality advisory service and most qualified buyers in the nation.
Fortis produced multiple offers in a rapidly changing market. The total properties sold numbered 12 at an average cap rate of 7.1%. His network delivered buyers from California, Oregon, Illinois and other markets.
He has the answers.
