From leading: Walgreens suppliers at 1800 West Indiantown Street in Jupiter, 3595 Southwest 22nd Street in Miami, and 9921 Okeechobee Boulevard in Boca Raton (Getty, Google Maps, LoopNet)
In a one 7 days span, a trio of South Florida Walgreens merchants traded for a merged $33.7 million, with a seller flipping one of the attributes for a nearly $2 million gain.
Walgreens will go on to operate the outlets, just after signing prolonged-term leases.
Jupiter and Miami suppliers
The countrywide retailer sold a keep at 1800 West Indiantown Road in Jupiter for $11.2 million, and a retail outlet at 3595 Southwest 22nd Road in Miami for $14.2 million, in accordance to Vizzda and data.
Equally are sale-leaseback offers with Walgreens signing 15-year contracts for the two outlets this month, information and Vizzda clearly show. The leases also have 12 five-yr renewal alternatives.
An entity managed by Joel Katz in Tucson, Ariz., and George Marlin in King Stage, N.Y., purchased the 17,700-sq.-foot keep in Jupiter done in 1998, records clearly show. The offer breaks down to $635 a sq. foot.
An entity managed by James Borba in Irvine, Calif., obtained the 17,800-sq.-foot Walgreens in Miami constructed in 2001, records clearly show. Borba’s entity paid out $812 per sq. foot.
Boca Raton retail outlet
Yuval Jacob in Forest Hills, N.Y., paid $8.1 million for the Walgreens at 9921 Okeechobee Boulevard in Boca Raton, documents exhibit. The offer breaks down to $560 a sq. foot for the 14,600-sq.-foot retail store crafted in 2008.
The vendor, an affiliate of Los Angeles-primarily based Company Associates Capital Group, sold the retail outlet for a $1.8 million income a few months following acquiring it. In September, Company Partners acquired the assets from Walgreens for $6.3 million, data show.
The retail chain also signed a 15-12 months lease with 12 five-year renewal selections.
Walgreens is wheeling and working in South Florida. Last month, Aventura-dependent MG3 Group paid out $78 million for Walgreens Distribution Middle, an industrial facility spanning 98 acres close to Jupiter. The firm continues to totally occupy the 683,000-sq.-foot advanced that companies 460 suppliers from central Florida to the Keys.
Also in November, an affiliate managed by a member of New York’s Kalimian loved ones paid out $35 million for a Walgreens retail store in South Beach front. New York-primarily based Allied Companions offered the two-story making at 509 Collins Avenue.
