The Observation Deck

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/


FWIW

So someone else bought the property and Walgreens is leasing it back?

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.