Walgreen's Sold?

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Jim O'Bryan
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Walgreen's Sold?

Post by Jim O'Bryan »

Other Notable Deals

Marcus & Millichap Capital Corp. arranged a $4.6 million loan for the acquisition of a 14,000-square-foot Walgreens drugstore in Lakewood, Ohio. Ian Harrison, an associate director in the firm’s Columbus office, arranged the financing for the property. The loan has a loan-to-value of 83.1 percent and a 6.57 percent interest rate, fixed over 23 years.

http://retailtrafficmag.com/deals/hff_t ... ls_011109/


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Rhonda loje
Posts: 647
Joined: Wed Jun 29, 2005 10:08 pm

Re: Walgreen's Sold?

Post by Rhonda loje »

So someone else bought the property and Walgreens is leasing it back?
"Dont it always seem to go
That you dont know what youve got
Till its gone
They paved paradise
And put up a parking lot"
Joni Mitchell
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Bob Mehosky
Posts: 91
Joined: Wed Aug 19, 2009 9:20 am

Re: Walgreen's Sold?

Post by Bob Mehosky »

Per the County Auditor's website, the land that the Madison store is on had been owned since 4/05 by Greystone Group-Madison, 12/09 it was sold for $5.5m to "Lakewood Ohio Wal LLC."

Looks like Walgreens was leasing the building and land and either formed a subsidiary to buy them out or someone else bought the property and took over the lease.

Either way, doesn't look like they're going anywhere.
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