June 27, 2022 – Kyle Danielson and Justin Spillane of Horvath & Tremblay have successfully completed the sale of a CVS in Houston, Texas. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $5,100,000.
CVS is located at 1339 S Dairy Ashford Road in Houston, Texas. The stand-alone building consists of 13,824 square feet on a 1.15-acre parcel of land. CVS has occupied this location since its construction in 2006 and has 4 years remaining on their triple net lease with four (4), 5-year renewal options. The lease features attractive rent increases at the start of each renewal option. The Property is extremely well located at the signalized intersection of S Dairy Ashford Road and Briar Forest Drive in the west side of Houston. S Dairy Ashford Road is the area’s primary commercial corridor and is home to countless retailers driving traffic to the area including Kroger, the area’s most frequented grocery store. The Property has outstanding visibility and frontage, four points of access, and is surrounded by densely populated residential neighborhoods, creating a strong customer base.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.