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