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NY Investor Snaps Up Lowell Walgreens
Marcus & Millichap arranged the sale of 1765 Middlesex St. in Lowell, MA. The site is currently occupied by Walgreens, and sold for $9,083,803.
The firm’s Glen Kunofsky, Josh Kanter and Anthony D’Ambrosia exclusively represented the seller, a West Coast-based private individual. The trio was joined by fellow Marcus & Millichap agent Adam Friedlander to secure the buyer, a New York City-based private investor.
Consisting of 14,820 square feet on a 1.53-acre-lot, the Lowell Walgreens represented the rare opportunity to acquire an investment-grade tenant located in a dense, urban infill market. “The property received a tremendous amount of interest due to the long-term lease in place with Walgreens, and the numerous debt quotes we received on the property from lenders,” said D’Ambrosia.
Further, Marcus & Millichap says the sale points to the popularity of net-leased pharmacies, which have remained popular with high-net-worth investors and 1031 exchange buyers.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition


