The Real Deal Miami

Deerfield Beach Walgreens building gets $9.3M

December 05, 2013 12:00PM

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1041 East Hillsboro Boulevard

1041 East Hillsboro Boulevard

A Walgreens-occupied retail building in Deerfield Beach has changed hands for $9.3 million, The Real Deal has learned.

Sedona Properties of Illinois sold the 1041 East Hillsboro Boulevard building on Nov. 27, according to Broward County records. The county recorded the transaction on Tuesday.

A Delray Beach-based company called Elle Snag is the buyer. It obtained a $5.8 million loan from FSGBank for the acquisition.

The 16,911-square-foot building was constructed in 2010 on 1.5 acres.

Retail buildings occupied by Walgreens are coveted by retail investors seeking passive rental income. The drug store chain typically signs long-term net leases at premium rates. — Eric Kalis

  • Andrea Maroto

    That is not true… tipically, Walgreens leases the land, they dont pay a net lease at “premium” rates.

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