Gustine is CVS' preferred developer for six regions. Gustine's not disclosing the final CVS store count, but a broker familiar with the projects says it's sure to be "north" of 20 locations.

Like most of the other sites in the Gustine portfolio, the Mesa parcel is abutted by seven acres already ticketed for retail development. The seller of record, Sossaman Square Associates, is an entity of New York-based Pioneer Cos.

Matt Millinovich of the Phoenix office of Dallas-based Trammell Crow Co. tells GlobeSt.com that the plan is to build a neighborhood retail center with three pad sites and 34,000 sf of shop space. Ground will break in the spring for a fourth quarter delivery, he says.

Millinovich says the parcel originally was marketed to service station operations. It's been on the market for a couple years, but caught Gustine's eye about six months ago. Dave Cheatham and Darren Pitts, both of the Phoenix office of CB Richard Ellis Inc., again represented Gustine at the bargaining table.

Gilbert, Chandler and Scottsdale all are ticketed for CVS stores as well as Phoenix proper. The 38-year-old, Woonsocket, RI-based drug store chain has about 4,100 stores in its network. Approximately 200 stores have been closed as CVS revamped its strategy from strip mall locations to freestanding buildings. The Arizona version will feature drive-through service and 24/7 operations.