Walgreens sells Delray Beach store on Federal Highway

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

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
From left: Lalo Durazo, Ricardo Dunin, Peacock Garden cafe, Gregory Galy and Mark Scheinberg (Getty, Peacock Garden)
Billionaire’s hospitality group buys Peacock Garden in Coconut Grove
Billionaire’s hospitality group buys Peacock Garden in Coconut Grove
Rockpoint's Bill Walton and Keith Gelb with the Shops at Mary Brickell Village (left), 1221 Brickell (middle), and 911 Southwest First Avenue (right) (Rockpoint, Google Maps, Twitter)
Rockpoint’s Brickell bonanza: Firm reaps riches in booming neighborhood
Rockpoint’s Brickell bonanza: Firm reaps riches in booming neighborhood
From left: Rockpoint’s Bill Walton and Keith Gelb, 911 Southwest First Avenue and RPT Realty’s Brian Harper (Rockpoint, Google Maps, RPT Realty)
RPT Realty buys Shops at Mary Brickell Village for $216M
RPT Realty buys Shops at Mary Brickell Village for $216M
Lucid Investment Group's Andrew Rasken with 143 Southwest Ninth Street
Mexican developer-led JV plans Brickell apartment tower
Mexican developer-led JV plans Brickell apartment tower
River Oaks founder and Chairman Gerald Rubin and Shop Delray at 8918 Atlantic Avenue in Delray Beach (River Oaks Properties El Paso)
River Oaks picks up Delray Beach shopping center for $26M
River Oaks picks up Delray Beach shopping center for $26M
Kaufman's Michael Kaufman with 3185 South Congress Avenue (Kaufman, Google Maps)
Kaufman Lynn sells Delray Beach HQ for $10M, but firm won’t relocate
Kaufman Lynn sells Delray Beach HQ for $10M, but firm won’t relocate
Google Street View of the properties at 551 Southeast Eighth Street and 551 Southeast Fifth Avenue in Delray Beach with CDS International Holdings founder Carl DeSantis (Google Maps, CDS Holdings)
Celsius energy drink investor Carl DeSantis pays $25M for Delray Beach offices
Celsius energy drink investor Carl DeSantis pays $25M for Delray Beach offices
R & B Realty’s Shelby Rosenberg and The Gateway at Wynwood (R & B Realty Group, iStock)
Lease roundup: The Gateway at Wynwood scores three new tenants
Lease roundup: The Gateway at Wynwood scores three new tenants
arrow_forward_ios

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

Loading...