"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.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.