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Marcus & Millichap Announces Sale of Walgreens Location in Missouri

July 09, 2024

JEFFERSON CITY, Mo., July 1, 2024 – 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 a net-leased Walgreens location in Jefferson City, Missouri. The property sold for $4,189,000. 

Nicholas Kanich and Mitch Grant, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, an investor from Kansas City. A local broker procured the buyer, a local group from Jefferson City in a 1031 exchange. Dave Saverin, Broker of Record in Missouri, assisted in the transaction. 

Located at 900 Eastland Drive, Walgreens has operated at this property for over 14 years and currently has over 10 years remaining on their absolute triple-net lease. Built in 2010, the 14,820-square-foot asset is situated just off Rex M. Whitton Expressway with daily traffic counts exceeding 35,600 vehicles per day. Neighboring retailers include Gerbes Supermarket, Dollar General, McDonald’s and Taco Bell. 

 

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.

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