East Valley To Get Eight New CVS Stores

PHOENIX – Eight new CVS stores will be coming to the Valley as the pharmacy giant continues its push to become a dominant chain in the region’s market.

Gustine Properties Inc. of Pittsburgh, PA was the buyer in all the land deals, closing on more than 40 acres in two communities over a two month span.

In Chandler, Gustine Properties purchased four parcels that it plans to develop into freestanding CVS Pharmacies and retail shops to meet that area’s growing consumer base.

The Pittsburgh, PA buyer took ownership of 15.63 acres on the northeast corner of Ray and McClintock roads in Chandler from Morrison & Hecker of Phoenix to build a freestanding CVS Pharmacy, four retail pads and eight acres of single-family homes.

Ten acres at the southwest corner of Germann and Dobson roads in Chandler was sold to Gustine Properties by The Lines Family of Tempe for uss as a six-acre retail development and CVS Pharmacy.

An .84 acre parcel on the northeast corner of Dobson and Warner roads in Chandler was sold by English & Continental (SW) Properties of Boulder, CO for a third Chandler CVS while the fourth CVS will be situated on 1.91 acres at the northeast corner of Chandler Boulevard and Gilbert Roads that was purchased from BOA Sorte LP of Mesa.

In Mesa, Valley Citrus Packing Co. of Phoenix sold off 6.31 acres on the southwest corner of Southern and Greenfield roads to the same developer while Crismon & Guadalupe, LLC of Tempe, sold 2.25 acres on the northwest corner of Guadalupe and Crismon roads in Mesa.

Also in Mesa, Chandler Carwash LLC of Gilbert sold off 1.11 acres on the southwest corner of University and Val Vista Drive for another new CVS Pharmacy. The chain will also place a store on 2.25 acres on the northwest corner of Brown and Ellsworth Roads in Mesa on land purchased from BOA Sorte LP.

Terms of the land sales were not disclosed. Dave Cheatham, Darren Pitts and Patrick Sauer of CBRE’s RCS Southwest group represented the buyer in all the land transactions.