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Boston & New England  + New England  + Retail  |  May 27, 2020
Net Lease Cap
David Cohen
By: David Cohen

Quantum Real Estate Brokers $9M Sale of Providence Retail Property

Quantum Real Estate Advisors has arranged the $9 million sale of a single-tenant Walgreens located in Providence, R.I. Dan Waszak of Quantum Real Estate represented the buyer, a private investor from New York City, in the transaction. The seller was an Ohio-based investment group.

Located at 1140 N. Main St., the property has been occupied by Walgreens since 2007. Walgreens has just over 12-years remaining on the primary term of its lease.

“This was the last acquisition in a multi-property 1031 exchange for the purchaser,” said Waszak. “His familiarity with the market, coupled with the long-term lease, made this an excellent fit to round out his 1031 exchange. The buyer was able to obtain attractive financing on this deal, showing the continued resiliency and demand for the ‘essential-retailers’ in the net-lease space.”

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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