Marcus & Millichap Completes Six-Property Walgreens Portfolio Sale
MIAMI, Nov. 17, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of six Walgreens drugstores. Located in Texas, Oklahoma, Illinois, New Mexico and Arizona, the triple-net-leased assets sold for a total of $24 million.
“Walgreens properties have been in high demand from net-leased investors since the pandemic started,” said Gabriel Britti, senior managing director, Marcus & Millichap. “The high quality of these assets and the attraction of triple-net leases drew prospective buyers from California, New York, and Florida.” Britti and Ronnie Issenberg, also a senior managing director, both in Marcus & Millichap’s Miami office, represented the seller. “This portfolio consisted of an essential rent-paying retailer with diversification in six different markets across the United States. It’s what everyone wants right now,” said Issenberg. Marcus & Millichap’s brokers of record in Texas, Oklahoma, and Illinois are Tim Speck, Mark McCoy, and Steven Weinstock, respectively. Ryan Sarbinoff is the firm’s broker of record in New Mexico and Arizona.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.