Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SUN LAKES, AZ-In a move that will solidify its stance in the Phoenix market, CVS Pharmacy has signed a 22-year lease on 11,987 sf of retail space in a fast-growing retirement community and is planning to open a pharmacy there later this month.

The location at the northwest corner of Dobson and Riggs roads, was chosen because of its excellent neighborhood demographics and the high-growth potential. The Woonsocket, RI firm has been making a major push into the Phoenix market with several new locations, including stores in Mesa and Phoenix, set to open this year.

The lease, negotiated for tenant, AZ Sun Lakes CVS LLC of Woonsocket, by Pat Sauer and Darren Pitts, both of CB Richard Ellis Inc.’s Phoenix office, marks the company’s first venture into the Sun Lakes area. Terms of the lease were not disclosed. The building owner, RNS Center LP of Sun Lakes, a Robson Communities company, handled its side of the talks.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.