The Boulder Group Closes Walgreens Sale for $5M
- Feb 06, 2017
Jacksonville, Fla.—The Boulder Group announced it has completed the $5.2 million sale of a single-tenant, net-leased Walgreens located at 3505 University Blvd. W. in Jacksonville, Fla.
Walgreens signed a 10-year lease extension for this location that will expire in August 2026 and includes eight five-year renewal options.
The 13,905-square-foot building is located at the intersection of University Blvd. W. and St. Augustine Road, surrounded by other retailers such as Publix, TJ Maxx, LA Fitness, Restaurant Depot, Bank of America, AutoZone and Dollar Tree.
Boulder Group President Randy Blankstein and partner Jimmy Goodman represented the seller in the transaction. The buyer was an international investment company.
“The market for Walgreens properties remains active as investors are attracted to investment grade rated companies with long-term leases,” said Blankstein in prepared remarks.
Image courtesy of The Boulder Group