The Real Deal Miami

Walgreens sells for $7.8M in Loxahatchee

April 25, 2011 11:40PM

A freestanding Walgreens at 15940 Orange Boulevard in Loxahatchee has
sold for $7.87 million in a deal arranged by CB Richard Ellis. The sale
of the 14,469-square-foot space to buyer U.S. Property Management was
brokered by CBRE’s Mark Drazek, Dave Donnellan, Todd
Weintraub and Bill Strauss, who represented seller Loxahatchee Venture.
Walgreens, which occupies the building, is in a new 25-year lease. “The
market for single-tenant properties is vibrant and Walgreens remains one
of the most pursued single tenant investments,” Drazek said. “This
transaction is further evidence of the strong demand for these
properties.” TRD