The Silver Group Arranges the Sale of a CVS Pharmacy

Barry Silver has arranged the sale of a single tenant CVS Pharmacy located in Galveston, Texas. The freestanding ± 13,824 sf building with drive through window is located at the corner of 61st Street and Stewart Street. The Property was a build to suit development for CVS in 2005. The triple net lease had 10 years of remaining term at the time of the sale. There are only 2 CVS Pharmacies serving Galveston and this site has the highest traffic counts. CVS is part of Stewart Plaza and separately platted. The Silver Group exclusively represented the Seller and produced multiple offers. The Buyer selected is a west coast partnership completing a tax deferred exchange following the sale of a Southern California apartment building. CVS maintains an investment grade credit rating and has annual revenues of $126 million. The adjacent Subway / T-Mobile building is also under contract.