For the second time in less than a year, the CVS Pharmacy building at 9326 Burbank Drive has been sold for $4.4 million.
ECC Baton Rouge La LLC of San Ramon, California, bought the store for $4.4 million in a deal that was filed Monday with the East Baton Rouge Clerk of Court’s office. The seller was a limited liability company set up by American Realty Capital Properties Inc. ARCP is a real estate investment trust based out of Arizona.
According to the ARCP website, the company has eight CVS locations in Louisiana. ARCP has a portfolio of 103 properties in the state, including Albertson’s grocery stores, Burger King restaurants, Dollar General stores and Taco Bell/KFC restaurants.
ARCP bought the pharmacy in August 2014 from CVS for nearly $4.4 million, about a month after the property opened. A list of 67 other CVS locations, including pharmacies at 101 David Drive in Metairie, at 800 Brownswitch Road in Slidell and at 4870 Airline Drive in Bossier City, was attached to the sale documents filed with the East Baton Rouge Clerk of Court’s office.
Attempts to contact representatives from ECC and ARCP were unsuccessful.
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