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prime Hillsboro Pike property, home to a thriving CVS Pharmacy since 2022, has seen its asking price drop once again. The current offering price stands at $15.38 million, following a reduction of approximately $600,000 from the previous listing in November 2023.

    The property's owner, an LLC affiliated with Five Star Development, originally listed it for around $16.27 million. After purchasing the site for about $6.3 million in February 2022, Five Star redeveloped the area into a 9,600-square-foot CVS building. The pharmacy has been a staple on Hillsboro Pike since October 2022.

    As Metro plans to reroute Crestmoor Road, aligning it with Glen Echo Road, the property's configuration will change significantly. This realignment will eliminate two traffic lights within one block and create a new intersection on Hillsboro Pike. Preliminary work has begun, but city officials have not provided an update on the project's timeline.

    Once completed, the CVS site will offer 1.14 acres of surface parking to the south, accessible from the previously demolished building's location. The Miami office of Marcus & Millichap is listing the property for Five Star Development, with Ronnie Issenberg and Gabriel Britti overseeing the effort.

    A nearby property at 3707 Hillsboro Pike, home to Park's Cleaners and Alterations, was listed for sale in 2021 but appears to be off the market. A small building that once housed Indian restaurant Shalimar has been razed.

    In other news, a mixed-use development is being proposed for the Germantown site of two former Christie Cookie production facilities. Nashville-based Trimark Builders seeks to build six buildings with 47 units and a commercial space at the northwest corner of Third Avenue North and Madison Street.

    The project, which was previously envisioned as eight buildings with 51 residential units, will feature primarily brick exteriors and ground-level garages accessed via an existing alley. The property covers 1.67 acres and includes the 40,800-square-foot ex-Christie Cookie building. Nashville-based Allard Ward Architects is handling design duties, while Barge Civil Associates is responsible for engineering and land-planning.

    Trimark Builders has requested a specific plan rezoning, with the Metro Council set to vote on March 2. The property is under contract, according to Steven Ezell, managing member of Trimark Builders.