Press Releases
Marcus & Millichap Arranges Sale and Financing of a Net-Leased Walgreens Property in Lawrenceville, Georgia
March 04, 2025
LAWRENCEVILLE, Ga., March 4, 2025 – 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 property in Lawrenceville, Georgia for $3,725,000. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, secured acquisition financing.
“Situated in a thriving retail corridor with high traffic counts and a strong consumer base, this Walgreens is strategically positioned near Northside Hospital Gwinnett, one of the region’s most significant healthcare hubs,” said Ashish Vakhariya, senior vice president investments. “The hospital’s ongoing expansion, including a 300-bed tower that will make it the largest facility in the Northside system, further strengthens the area's economic vitality and demand for essential retail services. With a long-term lease in place and a location benefiting from steady population growth and increasing healthcare activity, this property presented a compelling investment opportunity. We are pleased to have facilitated a successful transaction for both the buyer and seller.”
Vakhariya, Darin Gross and Seth Haron, investment specialists in Marcus & Millichap’s Detroit office, had the exclusive listing to market the property on behalf of the seller, and procured the buyer, a local private investor. John Leonard is the firm’s broker of record in Georgia. Luke Lamoreaux, associate director, capital markets, also based in the firm’s Detroit office, secured the financing.
The Walgreens property is situated on 1.2 acres at 1065 Duluth Highway. Built in 2004, Walgreens has just under 10 years remaining on a corporately guaranteed absolute net lease, with options to renew. The property is well-positioned in a strong retail and healthcare market, 30 miles northeast of downtown Atlanta.
“Situated in a thriving retail corridor with high traffic counts and a strong consumer base, this Walgreens is strategically positioned near Northside Hospital Gwinnett, one of the region’s most significant healthcare hubs,” said Ashish Vakhariya, senior vice president investments. “The hospital’s ongoing expansion, including a 300-bed tower that will make it the largest facility in the Northside system, further strengthens the area's economic vitality and demand for essential retail services. With a long-term lease in place and a location benefiting from steady population growth and increasing healthcare activity, this property presented a compelling investment opportunity. We are pleased to have facilitated a successful transaction for both the buyer and seller.”
Vakhariya, Darin Gross and Seth Haron, investment specialists in Marcus & Millichap’s Detroit office, had the exclusive listing to market the property on behalf of the seller, and procured the buyer, a local private investor. John Leonard is the firm’s broker of record in Georgia. Luke Lamoreaux, associate director, capital markets, also based in the firm’s Detroit office, secured the financing.
The Walgreens property is situated on 1.2 acres at 1065 Duluth Highway. Built in 2004, Walgreens has just under 10 years remaining on a corporately guaranteed absolute net lease, with options to renew. The property is well-positioned in a strong retail and healthcare market, 30 miles northeast of downtown Atlanta.
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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
