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11600 Shadow Creek Pkwy, Pearland, TX

Sales Price: $4,100,000

Tenant: CVS

Lease Type: NNN

Price Per SF: $315

Cap Rate: 4.27%

Selling Agent: Steve Bogoyevac

JUST CLOSED: CVS IN PEARLAND, TX

October 5, 2020

The Bogie Group is proud to announce their client has successfully acquired a 2006 construction NNN-leased CVS in Pearland, Texas as the upleg of their 1031 exchange. The upleg was identified as an attractive option for our client because of its reliable corporate tenant, desirable asset type with no management responsibilities, and great location in an income tax-free state proximate to a hospital, schools, and a busy state highway that connects a newer suburb to downtown Houston. The lease has 10 years remaining on its base term, six five-year options, three percent rent increases every five years, and five percent rent increases at each option. The property was acquired at a 4.27% cap rate for $4,100,000. For more information, please contact Steve “Bogie” Bogoyevac at Steve.Bogoyevac@MarcusMillichap.com

Los Angels Real Estate Borkers - The Bogie Group
880 Apollo Street, Suite 101, El Segundo, CA 90245
requests@bigrea.com
(424) 301-3800
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