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Chicago & Midwest  + Midwest  + Retail  |  July 1, 2024
Jasmine Kilman
By: Jasmine Kilman

Marcus & Millichap Brokers Sale of Net-Leased Walgreens in Jefferson City

Marcus & Millichap has brokered the sale of a net-leased Walgreens location in Jefferson City, Missouri. The property sold for $4,189,000.

Nicholas Kanich and Mitch Grant, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a Kansas City investor. A local broker procured the buyer, a local group from Jefferson City, in a 1031 exchange. Dave Saverin, Broker of Record in Missouri, assisted in the transaction.

Located at 900 Eastland Drive, Walgreens has operated at this property for over 14 years and currently has over 10 years remaining on their absolute triple-net lease. Built in 2010, the 14,820-square-foot asset is situated just off Rex M. Whitton Expressway, with daily traffic counts exceeding 35,600 vehicles per day. Neighboring retailers include Gerbes Supermarket, Dollar General, McDonald’s and Taco Bell.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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