CVS' Chicago Headquarters Sold To REIT For $44M

Law360, New York (November 21, 2011, 5:53 PM EST) -- Cole Real Estate Investments, a nonlisted real estate investment trust, has acquired Caremark Tower II, the 195,000-square-foot home of retail pharmacy giant CVS Caremark Corp. outside Chicago, for $44.25 million, Cole said Monday.

The property is one of three regional headquarters for the company. The building is about 25 miles northwest of downtown Chicago and about 10 miles north of O'Hare International Airport.

Cole declined to name the seller. Crain's Chicago Business reported the building was jointly owned by Fulcrum Asset Advisors LLC, a suburban Chicago...
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