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Texas  + Retail  |  October 19, 2020
Paul Bubny
By: Paul Bubny

Single-Tenant Rockwall CVS Trades in 1031 Deal

The Boulder Group completed the sale of a single-tenant CVS Pharmacy located at 1220 Horizon Rd. in Rockwall. The 11,421-square-foot property sold for $6,200,000.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both sides in the transaction. The seller was a Southwest-based real estate firm, while the buyer was an East Coast-based 1031 exchange investor.

The property features a drive-thru pharmacy and is located in a dominant retail corridor. CVS Pharmacy has more than 19 years remaining on its lease at this location.

“CVS drugstore properties with proven operating histories continue to garner significant investor interest,” said Blankstein, president of The Boulder Group.

Goodman, partner of The Boulder Group, added, “Net leased assets located in tax-free states, like Texas, are at the forefront of 1031 investors’ acquisition criteria.”

For comments, questions or concerns, please contact Paul Bubny

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Inside The Story

Connect With Boulder Group’s Blankstein and Goodman

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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