There are 18 years left on the Eckerd lease at 5422 BellaireBlvd., Randy Blankstein, president of the Boulder Group in Chicago,tells GlobeSt.com. The drug store chain has a triple net lease onthe three-year-old property sold by Shelby/Estus Developments ofHouston. According to the Harris County Appraisal District, the1.16-acre development is assessed at $1.5 million for 2002.

Blankstein says the buyer sold an apartment building in Chicagofor the first leg of the exchange. He adds that demographics are sofavorable in certain pockets of Houston that interest is high byinvestors, in and out of state. Blankstein's firm specializes insingle-tenant, triple net-lease properties.

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