Robert Horvath and Todd Tremblay of Marcus & Millichap Real Estate Investment Services have brokered the transaction of a 12,900 s/f CVS Pharmacy located at 1295 E. League City Pkwy. The sale price of $4.644 million represents $360 per s/f and a cap rate of 7.5%.
The CVS had 22 years remaining on the base term with 6 five-year options.
The building was purchased by Pond Plaza Realty Trust to complete a 1031 exchange requirement for a recent sale in Ashland, Mass.