Scottsdale, AZ – Today a subsidiary of Sand Capital completed the acquisition of a portfolio of 47 CVS Pharmacy stores throughout the country. Sand Capital is a privately held real estate investment company located in Scottsdale, Arizona, and controlled by the principals of Sandor Development Company, one of the largest privately held retail shopping center owners in the nation.
The purchase price was in excess of $275 million. As the zero cash flow structure makes these ideal for 1031 exchange buyers, some of the properties will be offered for sale. Stores purchased include locations in Sedona, AZ, Seattle, WA, Wheaton, IL, Southern California, Dallas and Houston, TX, and Tuscaloosa, AL.