JACKSONVILLE, FL—Walgreens at World Golf Village has a new owner. The 14,820-square-foot net leased retail asset in St. Augustine traded for $6 million.
Craig Lewis Thomas, a senior associate in Marcus & Millichap‘s Jacksonville office, had the exclusive listing to market the property on behalf of the seller, a REIT-based in Jacksonville. The buyer is from San Francisco.
“The buyer will benefit from the property’s impressive single-digit rent-to-sales ratio and its location within the Jacksonville MSA and, in particular, the World Golf Village submarket,” Thomas says. “Area retailers include Publix, CVS, McDonald’s, SunTrust, Hair Cuttery, Starbucks, Pizza Hut, The UPS Store, AT&T, and others.”
The Walgreens at World Golf Village is shadow-anchored by a brand new Publix shopping center. The retail store is near Mill Creek Elementary School and a satellite Flagler Hospital facility that is directly across the street. Walgreens at World Golf Village is located at 5445 State Road 16 in St. Augustine.