Case Study: CVS Corporation achieves 10–20% lower occupancy costs and $2B+ in financing with Cresa

CVS Corporation - Customer Case Study

CVS Corporation engaged Cresa and its Investment Banking services to optimize a 3,000,000 sq. ft. retail and distribution portfolio, identify strategic financing for hundreds of millions in annual new-store costs, and create flexible lease structures while disposing of obsolete properties.

Cresa implemented a principal sale/leaseback program and synthetic leases—funding more than $2 billion of new properties at rental rates well below conventional markets—while marketing and disposing older locations. The program reduced CVS Corporation’s occupancy costs by 10–20% versus competitors, freeing capital for faster growth, inventory investment and acquisitions, and enabled financing structures that kept assets off CVS’s balance sheet.