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Boston & New England  + Metro Boston  + Retail  | 

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

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Inside The Story

Connect With Marcus & Millichap’s KunofskyConnect With Marcus & Millichap’s KanterConnect With Marcus & Millichap’s D’AmbrosiaConnect With Marcus & Millichap’s Friedlander

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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 GlobeSt.com 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
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