OCALA, FL-Agree Realty Corporation, a Farmington Hills,Mich.-based real estate investment trust, sold a 14,820-square-footWalgreen’s for $4.12 million to a private investor. Agree owns 30additional Walgreen’s stories in various cities.
“We had the opportunity to get a strong price on thisWalgreen’s, and we felt it was a good opportunity to recycle ourcapital,” Ken Howe, CFO for Agree Realty Corporation, tellsGlobeSt.com. “This Walgreen’s just didn’t seem to fit into ourgeographic portfolio anymore.”
Agree Realty has two new Florida Walgreen’s stores underconstruction, one in St. Augustine and the other in Atlantic Beach.Both of those properties are in the northern region of the state.Altogether Agree Realty owns and operates a portfolio of 75properties in 15 states spanning about 3.5 million square feet ofleasable space.
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