Deerfield Partners Closes Sale of Net Leased Walgreens in Colorado Springs, Colorado
SAN FRANCISCO, February 11, 2021 (Newswire.com) - Deerfield Partners is pleased to announce the recent sale of a Walgreens store in Colorado Springs, Colorado.
The 15,120 square foot building is in an affluent area of Colorado Springs where average household incomes are $100,000 within a one-mile radius. Walgreens has recently extended their lease on this store, demonstrating their long-term commitment to the location.
Arthur Griffith and John Giordani of Deerfield Partners represented the seller in this transaction. The seller is a Texas-based investor and the buyer is a Los Angeles-based investor in a 1031 tax exchange.
There are over five years remaining on the term of the original lease, which features the preferred five-year renewal option structure. The property sold for the asking price.
"By leveraging our proprietary database of drugstore owners, we were able to generate multiple offers at asking price for our client, the owner of this Colorado Springs Walgreens. From there, this transaction moved swiftly from contract to closing," says John Giordani of Deerfield Partners.
About Deerfield Partners
Deerfield Partners is the market-leading, highly specialized real estate brokerage firm focused exclusively on the sale of Walgreens, CVS, and Rite Aid investment properties. Our professional and disciplined approach ensures we obtain, interpret and articulate the critical information our clients need to make informed decisions. Whether we're assisting drugstore owners in executing a disposition strategy or using our market intelligence to help 1031 buyers acquire the best drugstore investment property, client service is at the forefront of everything we do.
We pride ourselves on a focused commitment to maximizing value and minimizing risk for buyers and sellers of single-tenant drugstore properties net leased to Walgreens, CVS, and Rite Aid.
For more information on all of our drugstore investment listings, visit: https://bit.ly/deerfieldlistings or call: 415-754-7831.
Source: Deerfield Partners
