Walgreens sells Delray Beach store on Federal Highway

Walgreens said in August it would close 200 stores in the US

TRD MIAMI /
Oct.October 30, 2019 04:30 PM
Walgreens at 3200 South Federal Highway

Walgreens at 3200 South Federal Highway

Walgreens sold one of its South Florida stores on the corner of South Federal Highway and Lindell Boulevard.

Property records show Walgreen Company, based in Deerfield, Illinois, sold the 14,362-square-foot Deerfield Beach store at 3200 South Federal Highway for $6.54 million. The buyer is WBA FL 001 LLC, a Delaware company that is tied to Oak Street Real Estate Capital of Chicago.

Walgreens said in August that it planned to close 200 stores in the U.S. following “a review of the real estate footprint in the United States.” It’s unclear if the Delray Beach location is one that would close.

Earlier this week, Walgreens said it would close 150 of its in-store clinics and will open 100 Jenny Craig locations in Walgreens stores across the country.

Oak Street Real Estate is a private equity firm that manages commingled funds and accounts on behalf of institutional and high net-worth individuals, according to its website.

The Delray Beach property last sold in 2001 for $4.2 million.

Investors have been targeting Delray Beach.

Pebb Capital recently closed on nearly 7 acres of land to build a project formerly known as Midtown Delray. The $100 million project, in a designated Opportunity Zone, will include nearly 50,000 square feet of retail and restaurant space and about 70,000 square feet of office space.


Related Articles

arrow_forward_ios
27359 South Dixie Highway and Longpoint Realty Managing and Founding Partner Dwight Angelini (Google Maps)

Longpoint buys Fresco Y Mas-anchored center in Naranja

Longpoint buys Fresco Y Mas-anchored center in Naranja
Cortland Partners CEO Steven DeFrancis and Depot Station apartment complex in Delray Beach (Google Maps)

Cortland pays $74M for Depot Station apartments in Delray Beach

Cortland pays $74M for Depot Station apartments in Delray Beach
Hard Rock Cafe at Bayside Marketplace (Hard Rock)

Bayside Marketplace sues to evict Bubba Gump, Hard Rock Cafe and three other tenants

Bayside Marketplace sues to evict Bubba Gump, Hard Rock Cafe and three other tenants
Rendering of Echelon in Delray Beach

Developer plans boutique oceanfront condo project in Delray Beach

Developer plans boutique oceanfront condo project in Delray Beach
Commissioner Ricky Arriola and an aerial of Sunset Harbour in Miami Beach (Compass)

Miami Beach moves toward banning chain restaurants and stores in Sunset Harbour

Miami Beach moves toward banning chain restaurants and stores in Sunset Harbour
Diane Von Furstenberg, Brookfield Properties Bruce Flatt, and the DVF store in the Shops at Merrick Park (Getty, Google Maps)

Brookfield seeks to evict Diane Von Furstenberg at Merrick Park

Brookfield seeks to evict Diane Von Furstenberg at Merrick Park
3200 South Federal Drive Delray Beach, Oak Street Real Estate Capital’s Jim Hennessy (Credit: Google Maps and LinkedIn)

Private equity firm sells Walgreens in Delray Beach for $8M

Private equity firm sells Walgreens in Delray Beach for $8M
Rendering of American Dream Miami, Triple Five Group chairman Nader Ghermezian

Triple Five “inching closer” to construction on American Dream Miami

Triple Five “inching closer” to construction on American Dream Miami
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...