Wednesday, September 29, 2010

CVS Pharmacy Building Sells for $3.6M

"The 10,125-square-foot building at 701 Dekalb St. in Norristown, PA sold this month with a long-term tenant in place. CVS Pharmacy occupies this building with a 25-year term remaining on their lease. The deal brought a sale price of $3.6 million, or $355.56 per square foot, and sold at a cap rate of 7.63%.

The seller was Specialty Development Group LLC. The buyers were 701 Dekalb Street Partners LP."

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