Located at 17373 Main St., the retail space encompasses 14,560sf. Built by the seller, which is one of Walgreens' major preferreddevelopers, it is "a standard, prototype (Walgreens) store," Heldtells GlobeSt.com.The deal is one of many retail sales that haveoccurred recently as part of 1031 Exchange transactions. Held saysthe prevalence of 1031 Exchanges has "absolutely had an effect onthe retail market." As Held points out, "one of the factors thathas really driven cap rates down has been the 1031 Exchange. Inaddition, we're seeing a lot of larger properties being sold to theindividual 1031 Exchange investor. In the past, institutions, REITSand large developers were the typical owners."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 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.
