Closed San Jose Drugstore Site Wins Local Real Estate Buyer

SAN JOSE — A defunct drug store site, one of the anchors for San Jose’s retail center, was purchased by a local real estate investment group.

The recently purchased retail building is the site of a former CVS drug store and pharmacy at 1685 Tully Road in San Jose.

VQ5 Properties, a San Jose-based real estate group, purchased the building for $10.5 million, according to documents filed with the Santa Clara County Records Office on Jan. 24.

Property records show the buyer is affiliated with Tuong Vy Nguyen.

According to the site’s marketing brochure, distributed by CBRE’s commercial real estate agents Rick and John Shaffer, the total building area is 26,500 square feet.

“(Its) prime trade areas include two of San Jose’s wealthiest communities: Silver Creek and Evergreen,” CBRE said in a marketing flyer.

Fryer also said the building has “excellent visibility” due to its proximity to the intersection of Tully Road and King Road.

The building’s seller was Longs Drug Stores California. In 2008, CVS Health acquired Longs Drugs. After the transaction, CVS changed Longs’ retail site to his CVS branded store.

Based on the date of posting on the Yelp website and the date of the Google Maps image capture, the CVS store will be closed in the fall of 2022.

According to county records, there were a number of restrictions on future use of the property associated with the purchase transaction.

The document attached to the proof of purchase states, “No part of the property shall be leased or used for any of the following purposes: pharmacy mail-order facility, drug store, pharmacy prescription department, or retail It’s a health center,” he said. CVS’s “Minute Clinic” was banned.

Permitted uses include: “Physician, dental, or other health care offices or practitioners that are independently operated and not located in retail stores or establishments,” county records stated. I’m here. Closed San Jose Drugstore Site Wins Local Real Estate Buyer

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