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Florida & Gulf Coast  + Central Florida  + Retail  |  October 27, 2021
St, Augustine, FL
Lisa McDuffie
By: Lisa McDuffie

NAI Legacy Closes 1031 Exchange, $9M Sale of St. Augustine Walgreens

NAI Legacy has closed the $8.8-million sale of a net-leased Walgreens in St. Augustine, FL. The property’s buyer was completing a 1031 tax-deferred exchange.

According to NAI Legacy managing director Michael Houge, the buyers of 116 Blackford Way plan on living in Florida for even greater tax benefits.

Monroe Moxness Berg acted as legal advisors, Marcus and Millichap Capital provided mortgage brokerage services, First American Exchange handled the 1031 and Horvath & Trembly represented the seller.

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NAI Legacy

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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