MIAMI—Walgreens are a hot commodity—and harder for investors toget their hands on—in today's market. But HerrickCompany managed to pick up 29 of them in one fellswoop.
Herrick affiliates just spent $100 million to buy 29pharmacy-retail properties in markets across theUnited States. All of the properties are occupied by Walgreensunder long-term triple net leases.
“We continue to be successful in identifying and executing onopportunities to strategically expand our portfolio ofsingle-tenant, long-term net leased assets,” says NortonHerrick, chairman of the company that holds his name.“With significant competition in the market, our ability to movequickly to closing positions us strongly for these types of highlydesirable investments.”
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