Hanley Arranges Sales of Three Walgreens Stores in IL, MN and FL
Hanley Investment Group Real Estate Advisors arranged the sales of three single-tenant net-leased retail properties occupied by Walgreens in three separate transactions within 25 days. The combined value of these sales was $22.6 million and included three different buyers and sellers. All three sales were transacted in association with ParaSell, Inc.
In the first transaction, Hanley Investment Group arranged the sale of a Walgreens-occupied property in Minneapolis, which sold for $6,600,000. EVP Kevin Fryman and president Ed Hanley represented the seller, a private investor from San Diego County. The buyer, a private investor based in Suffolk County, NY, was self-represented.
In the second, Hanley arranged the sale of a Walgreens-occupied property at 376 N. State Rte. 47 in Sugar Grove, IL, which sold for $6,590,000. EVPs Bill Asher, Jeff Lefko and Jeremy McChesney represented the seller, a private investor based in Orange County, CA. Isaiah Harf at Northmarq in Chicago represented the all-cash, 1031 exchange buyer based in the greater Chicago area.
In the third, Hanley represented the buyer in the sale of a Walgreens-occupied property in the Miami metro area. The sale price was $9,378,000 for the single-tenant 17,325-square-foot Walgreens building. VP Brad Dessy and EVP Matt Burnett represented the buyer, a private investor from Los Angeles County.