Chicago & Midwest + Midwest + Retail | July 11, 2019

Two Downstate Walgreens Stores Change Hands

The Boulder Group completed the sale of two single-tenant net leased Walgreens properties in western Illinois for more than $8.1 million.

The 15,554-square-foot Walgreens in Galesburg, IL benefits from its hard corner location along Highway 150, a primary north-south thoroughfare. In Jacksonville, the 15,051-square-foot store is ona primary east-west thoroughfare, West Morton Avenue.

Randy Blankstein and Jimmy Goodman of the Boulder Group represented the seller, a Texas-based real estate company. The undisclosed buyer was a Midwest-based real estate investor.

“Walgreens properties with proven operating histories continue to garner significant investor interest,” said Blankstein, president of the Boulder Group.

Goodman, partner with the firm, added, “Properties with strong real estate fundamentals continue to be in demand with all investor classes.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).