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LAS VEGAS-A foreign fund has purchased a 16,016-square-footWalgreens drugstore from a local real estateinvestment partnership for $27.8 million, making the property themost valuable single-tenant net-leased drugstore ever to trade inthe US. The sales price represents $1,736 per square foot.
“This transaction exemplifies our ability to move capital acrossmarkets and investor profiles on a consistent basis,” saysBill Rose, national director of Marcus& Millichap Real Estate Investment Services’ nationalretail group. Ray Germain, a net-leased propertyinvestment specialist in M&M’s local office,represented the seller, while Sean Shahar Ziv, anassociate in the firm’s San Diego office, represented thebuyer.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
