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Connect Midwest: Multifamily Adaptive & Reuse Trends – Chicago June 13


Connect Midwest: Multifamily Adaptive & Reuse Trends – Chicago June 13

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Chicago & Midwest  + Greater Chicagoland  + Retail  | 

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.


Inside The Story

Hanley Investment Group

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition