Pharma Property Group Retains Exclusive Listing for CVS in Houston, TX
This CVS property has approximately 7.5 years left on the initial lease term with four five year options. The lease on this property allows for 5% rental increases at each option period. The next option begins February 2025.
The subject property is located on a highly traveled signalized northwest corner with over 45,000 cars per day. There is a Walgreens located directly across the street from this property, making this a strategic location for both Walgreens and CVS. In the immediate area surrounding the property there are numerous national tenants including McDonalds, Chase Bank, Burger King, Pizza Hut, Bank of America, 99 Cents Only, and Kroger. There are also two hospitals located under 5 miles from the property, Monroe Community Health Center and Pine Valley Specialty Hospital, an acute long-term care facility.
Located in Southeast Texas near the Gulf of Mexico, Houston is home of NASA’s Johnson Space Center, the location of the Mission Control Center. This city is also home of the Texas Medical Center, the largest concentration of healthcare and research institutions in the world. This CVS property is located in an infill area of the Houston MSA, the fifth-largest metropolitan area in the nation and the second-largest in the state, with over 6.5 million residents. There are over 350,000 residents within a 5-mile radius of this CVS location.
Pharma Property Group is a specialized national commercial real estate brokerage firm providing investment services for drugstore landlords who own Walgreens, CVS and Rite Aid properties throughout the nation.
Pharma Property Group
5328 Banks Street Suite B
San Diego, CA 92110
Office: (619) 297-0055