CVS at Burbank and Gardere sells for second time in a year, this time for $4.4M

The CVS Pharmacy at 9326 Burbank Drive, at the intersection of Gardere Lane, has been sold for the second time in the past year as part of a larger package of pharmacy stores.

Phoenix, Arizona-based American Realty Capital Properties Inc. picked up the CVS location last August from Louisiana CVS Pharmacy LLC for $4.39 million. American Realty, a real estate investment trust, has now sold the pharmacy for more than $4.44 million to a limited liability company called EEC Baton Rouge LA, according to sales documents filed today with the East Baton Rouge Parish Clerk of Court.

The sales document indicates the Baton Rouge pharmacy is just one 68 total CVS properties American Realty is selling as part of a package deal. Three other Louisiana CVS locations are included in the package sales, including locations in Bossier City, Metairie and Slidell. However, the sale document filed locally only includes the price of the Baton Rouge location.

Attempts to reach the seller and the buyer, whose mailing address is San Ramon, California, were unsuccessful as of this afternoon’s deadline.

—Steve Sanoski

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