Freestanding NNN Leased Investment Sells to Walgreens

MESA – ORION Investment Real Estate is pleased to announce the sale of the freestanding Walgreens at 1305 South Greenfield Road in Mesa for $2,632,635. Situated on 1.23 acres, the property is just south of Southern Avenue on Greenfield Road with excellent visibility. Walgreen’s, Baa2 credit rated by Moody’s, was on a long-term lease which was part of the appeal to the Buyer.

 

Nick Miner, CCIM, Senior Vice President at ORION, represented the Buyer in this transaction. Miner said, “Buyer was in a 1031 Exchange and they were looking for a property to replace income that was leased to a publicly traded company.  I was engaged to help them identify the several different properties that best matched their return requirements.  This property was selected because of the safety of a publicly traded company on a long-term lease.”

 

The building was purchased by Estelle Roitblatt Living Trust based out of California. The Seller was Florida-based Lease Fund II, LLC.

 

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