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BOSTON-Retail pharmacy giant CVS Corp. has entered into asale-leaseback deal with a group led by the Dallas-based StaubachCo. for 163 locations in 22 states for $519 million. Staubachformed a group of 12 investors in addition to their own acquisitionaffiliate, Staubach Capital Partners, to purchase the single retailpharmacies. The group in turn will flip the assets in turnarounddeals.

"This deal makes a lot of sense for both companies," Jim Koury,senior vice president of capital markets at Spaulding & SlyeColliers, tells GlobeSt.com. "Staubach has distinguished itself foryears now as a player in this market of single tenant triple-netdrugstores, where they generally turn around and resell them toinvestors looking for 1031 exchange opportunities. Staubach is amarket maker and CVS just wanted to generate some quickcapital."