Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
NYC-Based RockFarmer Picks Up Triple-Net Walgreens
RockFarmer Properties, based in New York City, acquired 6901 San Pedro Ave., a 14,850-square-foot retail property in San Antonio for $6,400,000. The property is currently occupied by a Walgreens under a triple net lease.
RockFarmer Properties purchased the single-box retail property from Corporate Partners Capital Group. Woodforest National Bank provided RockFarmer with a five-year, $3,904,000 loan with two years of interest-only financing.
“San Antonio is a market RockFarmer is really excited about as we continue to search for value-add commercial and multifamily assets across the Sun Belt states,” said Brian Getzler, VP of acquisitions at RockFarmer. “6901 San Pedro is centrally located along one of the area’s most highly trafficked retail corridors. A strong, national tenant like Walgreen’s was icing on the cake.”
Stan Johnson Company’s Jason Maier represented RockFarmer in the acquisition. Kase Abusharkh and Jacob Abusharkh of The Kase Group represented the seller.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
- ◦Lease
