Hallandale Beach CVS sells for $16M

CVS signed a lease in December that runs through 2041

Mar.March 29, 2016 03:00 PM

A newly completed CVS Pharmacy in Hallandale Beach sold to New York-based Trio Investments for $16 million. 

Broward County records show an affiliate of SunTrust Equity Funding sold the 15,551-square-foot store at 2101 East Hallandale Beach Boulevard for a whopping $1,030 per square foot. The building, which was completed last year, sits on a 2.4-acre plot.

Trio Investments’ CEO Donna Chiaia is listed on the company’s corporate records.

The land last traded for $5.9 million in 2012. CVS signed a lease with MC Hallandale Beach FL Landlord LLC in December for the lease, which expires in 2041. The lease includes the option for up to 10 five-year extensions.

Earlier this month, plans for a mixed-use project called Nine Hundred were filed with the city of Hallandale Beach. The development, across the street from the Village at Gulfstream Park, would include 320 condo units, 150 hotel rooms and more than 5,000 square feet of commercial space.

Related Articles

Rendering of SLS Resort Residence & Marina Hallandale Beach, Ari Pearl, Sam Nazarian and Faisal Ashraf

Ari Pearl lands $100M loan to build first phase of SLS project in Hallandale Beach

Cement pour at Ocean 2000 site takes 13 hours, 240 trucks and 500 tons of steel

Hallandale Beach approves new workforce housing development

Hallandale Beach morphs from shabby beach town to upscale resort destination

Shahab Karmely lands $103M loan for 2000 Ocean in Hallandale Beach

On the scene: 2000 Ocean groundbreaking and a dinner for Master Brokers Forum

SBE partnering with Ari Pearl to build $220M SLS resort in Hallandale Beach

Grupo Eco buys site for final piece of Atlantic Village project in Hallandale