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Walgreens Fetches $6M in Iowa Sale

The Boulder Group completed the sale of a single-tenant net-leased Walgreens property at 830 Middle Rd. in Bettendorf, IA for $5,806,452. The firm’s Randy Blankstein and John Feeney represented the seller, a Midwest-based investment firm. The buyer was a West Coast-based investment firm.

The 14,490-square-foot Walgreens benefits from its signalized hard corner location along Middle Road, a primary east-west thoroughfare. It’s also in close proximity to Interstate 74.

The Walgreens lease has more than 10 years remaining on the primary term. 

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

SVP Feeney added, “Single-tenant drug store properties with more than 10 years remaining continue to trade regularly.”

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For comments, questions or concerns, please contact Paul Bubny


Inside The Story

Connect With Boulder Group's Blankstein and Feeney

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 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
  • ◦Lease
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