June 1, 2020
Marcus & Millichap recently closed on the sale of a 13,190-square foot net-leased CVS drugstore in Brownsville. The property sold for $7,332,246.
SVPs Austin Weisenbeck and Sean R. Sharko, and associate Matt Emerick, all with Marcus & Millichap’s Chicago Oak Brook office, marketed the property on behalf of the seller, a private investor. Tim Speck assisted in closing this transaction as the broker of record in Texas.
The CVS is located at 4531 S. Padre Island Hwy. in Brownsville, and is shadow-anchored by The Home Depot. CVS has a 25-year absolute-net lease with over 14 years remaining. The property had a fully-accepted offer within a week of marketing at 98% of the list price, Marcus & Millichap reported
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