The local Walgreens deal was at an 8.43% overall capitalization rate. Mid-North Financial arranged financing.
A 14,490-sf Walgreens in Amarillo, TX commanded a $4.59 million price, which puts the capitalization rate at 8.30%. Syndicated Equities produced the partnership of investors through its Multi-Owner Opportunity program, while LaSalle National Bank arranged the financing.
Syndicated Equities also closed another Walgreens deal in Springfield, OH, selling a 14,490-sf building for $4 million, an 8.40% cap rate. A New York investor who had sold a shopping center and needed to acquire another property in a 1031 Exchange is the new owner.
Another 1031 Exchange investor, selling a retail and warehouse property, bought a 10,880-sf building leased to the CVS drug store chain in South Lyon, MI for $3.75 million, an 8.67% cap rate.
A 10,908-sf building in Brunswick, GA leased to the Eckerd drug store chain sold to a local 1031 Exchange investor for $2.2 million, a 9.4% cap rate.
Syndicated Equities says the largest of the six deals was an $8.85-million sale of a 114,731-sf building leased to Lowe's Home Centers in a Midwest state.
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