Purchased under the entity, First Colony CVS LP, it will be the company's first pharmacy in the Sugar Land area, but its 12th in the state. The First Colony CVS is expected to open in December.
Monte Tinkham of Houston's Monte Tinkham Properties represented CVS in the talks.Sugarland Properties Inc. used its retail leasing director, G. Peter Jacob, to broker the sale.
Nationally, CVS ranks first in store count among pharmacy chains. Its portfolio contains nearly 4,200 stores in 31 states and the District of Columbia. There are three stores in Houston and one in its suburb of Katy. The chain's annual revenues exceed $22 billion.
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