The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant net leased Dallas CVS Pharmacy located at 1220 Horizon Road in Rockwall, Texas for $6,200,000.<\/p>\n
The 11,421-square-foot net leased Dallas CVS pharmacy building is located at the corner of a signalized intersection along Horizon Road (19,600+ VPD) and Ridge Road (25,100+ VPD), which is a primary thoroughfare. The property features a drive-thru pharmacy and is located in a dominant retail corridor with tenants such as Academy Sports and Outdoors, Best Buy, The Home Depot, JC Penney, Kohl\u2019s, Lowe\u2019s Home Improvement, Target, T.J. Maxx, and Walmart Supercenter. Other retailers in the area include Chase Bank, Chili\u2019s Grill & Bar, Culver\u2019s, Dollar Tree, IHOP, and In-N-Out Burger.<\/p>\n
There are more than 97,000 people living within 5 miles with an average household income in excess of $117,000 annually.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both sides in the transaction. The seller was a southwest based real estate firm and the buyer was an east coast based 1031 exchange investor.<\/p>\n
CVS Pharmacy has more than 19 years remaining on their lease at this location. CVS Pharmacy is the nation’s drugstore chain and total prescription revenue and operates 9,800+ locations in 49 states, the District of Columbia, Puerto Rico and Brazil.<\/p>\n
\u201cCVS drug store properties with proven operating histories continue to garner significant investor interest\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cNet leased assets located in tax-free states, like Texas, are at the forefront of 1031 investor\u2019s acquisition criteria.\u201d<\/p>\n