Tate Capital sells CVS Pharmacy y más location near Kendall for $16M

CVS launched stores in 2015, targeting Hispanic consumers

Miami /
Sep.September 13, 2021 09:45 AM
10660 Southwest 40th Street (Google Maps)

10660 Southwest 40th Street (Google Maps)

An affiliate of Tate Capital sold a CVS Pharmacy y más-leased location just north of Kendall for $16 million.

The buyer was a group managed by H.H. Real Estate Holding Corp., records show. The 17,300-square-foot property is located at 10660 Southwest 40th Street.

The buyer also is linked to Dallas-based International Capital, a commercial real estate brokerage and property manager. North Miami-based Tate Capital is led by Kenneth Tate.

The one-story complex is on 2.4 acres, property records show. It was built in 2017, according to Loopnet.

Targeting Hispanic consumers, CVS y más was launched in 2015 in Florida, and has since expanded to California, Texas and Puerto Rico.

Locally, the drug store chain also is growing. Developer Aria Mehrabi in June got Miami Beach city approval to open a CVS Pharmacy within a Target store at his 12-story mixed-use project at 6948 Abbott Avenue.

Retail such as CVS or grocery stores like Publix fared better over the coronavirus pandemic as it offers necessities and is immune to e-commerce growth. CVSs and CVS-anchored shopping centers continued to trade.

In this year’s second quarter, South Florida’s biggest retail deal was Regal Acquisitions’ purchase of CVS-anchored property at Boulan South Beach hotel for $34 million.





    Related Articles

    arrow_forward_ios
    Codina Partners’ Armando Codina and Ana-Marie Codina Barlick with 5350 Park condo project (Codina Partners, Getty)
    Judge orders Codina Partners’ affiliate to pay Grycon $8M in damages
    Judge orders Codina Partners’ affiliate to pay Grycon $8M in damages
    1600 Northeast Second Avenue (Loopnet, Getty)
    Sabet buys development site in Miami’s A&E District
    Sabet buys development site in Miami’s A&E District
    Black Lion's Robert Rivani with One Thousand Museum
    Robert Rivani’s Black Lion snags One Thousand Museum restaurant space
    Robert Rivani’s Black Lion snags One Thousand Museum restaurant space
    Truist Securities' John Gregg with 7600 Northwest 82nd Place (Truist Securities, JLL)
    Hot deal for cold storage: Truist buys, leases back Quirch Foods’ Medley site
    Hot deal for cold storage: Truist buys, leases back Quirch Foods’ Medley site
    South Florida
    Home sales fall over 20% in August across South Florida
    Home sales fall over 20% in August across South Florida
    Balzebre Investments' Robert Balzebre with 8710 Southwest 72nd Street
    Winn-Dixie sues landlord over leaky roof at South Miami store
    Winn-Dixie sues landlord over leaky roof at South Miami store
    Terra's David Martin and AB Asset Management's Getzy Fellig with rendering of Residences in the Grove (Terra Group, LinkedIn, Getty)
    Terra, AB Asset plan 174 apartments in Coconut Grove
    Terra, AB Asset plan 174 apartments in Coconut Grove
    Electra America's Joe Lubeck with rendering of Southplace City Center (Electra America)
    Electra America JV plans $1B mixed-use redevelopment of Southland Mall
    Electra America JV plans $1B mixed-use redevelopment of Southland Mall
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...