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.

walgreens

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.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

five − 3 =