"We are pleased to be able to work once again with the sellerfor whom we originally arranged financing several years ago when itcompleted a 1031 tax-deferred exchange and purchased thisfirst-class asset," says Casimir Broblewski, managing director ofFantini & Gorga, in a statement. F&G brokered the deal withthe help of ICA Realty, which managed the 1031 exchange.

The property is located by the intersection of Route 128 justnorth of Salem. The suburban Boston location provides a mix ofrental and single-family homes in a range of high density areas,ideal for a retail strip mall's client base. Walgreens, locatedacross the US, is a popular brand and has moved in the market well,recently in Floridaand nearby Stoughten, MA whereLinear Retail Group purchased a Walgreens-anchored plaza for $12.6million.

Walgreens is a Chicago-based pharmacy that has retail storesthroughout the US.