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Marcus & Millichap Brokers Sale of Indiana Walgreens
Marcus & Millichap completed the sale of a net-leased Walgreens location in Bluffton, Indiana. The property sold for $2,372,727.
“In a highly volatile market for net-leased drug stores, we were able to generate multiple offers,” said David Klink, senior associate. “We ultimately secured an out-of-state 1031 exchange buyer.”
Jordan Klink and David Klink, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller, Eureka Limited Company, and procured the buyer, Valuecom22, LLC.
The Walgreens is located at 1975 N. Main St. in Bluffton, just south of Fort Wayne. Built in 2003, the property occupies 1.89 acres at a signalized, hard-corner intersection. Approximately 4.5 years remain on the property’s absolute triple-net lease. It is situated in Bluffton’s main retail corridor, surrounded by major national retailers, including Walmart and Lowe’s.
