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Marcus & Millichap Makes Fast Sale of Brownsville CVS

Marcus & Millichap recently closed on the sale of a 13,190-square foot net-leased CVS drugstore in Brownsville. The property sold for $7,332,246.

SVPs Austin Weisenbeck and Sean R. Sharko, and associate Matt Emerick, all with Marcus & Millichap’s Chicago Oak Brook office, marketed the property on behalf of the seller, a private investor. Tim Speck assisted in closing this transaction as the broker of record in Texas.

The CVS is located at 4531 S. Padre Island Hwy. in Brownsville, and is shadow-anchored by The Home Depot. CVS has a 25-year absolute-net lease with over 14 years remaining. The property had a fully-accepted offer within a week of marketing at 98% of the list price, Marcus & Millichap reported

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).