Walgreens sells a store in Lauderdale Lakes for $7M

Walgreens sold a store in Boca Raton two months ago for $9.15M

TRD MIAMI /
Apr.April 30, 2020 11:30 AM
Walgreens at 3099 North State Road 7 (Credit: Google Maps)

Walgreens at 3099 North State Road 7 (Credit: Google Maps)

Walgreen Co. sold one of its stores in Lauderdale Lakes for $7 million.

The Deerfield, Illinois-based retailer sold the 15,568-square-foot store at 3099 North State Road 7 to DS Lauderdale Lakes FL Landlord, LLC, tied to SunTrust Equity Funding LLC, records show. The price equates to $449 per square foot.

The store is on 2.3 acres near the Florida Turnpike, according to records.

The Walgreens was built in 2004. The property was last purchased for $1.6 million in 2002, records show.

With stable, recurring cash flow and a single tenant, Walgreens-leased properties are often seen as a safe bet for investors, experts say.

Yet, Walgreen Co. announced 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.”

Earlier this month, a Walgreens-leased property in Weston hit the market for $11 million.

In February, Walgreen Co. sold a store in Boca Raton to a Los Angeles-based investment group for $9.15 million. In October, the company sold a Delray Beach store for $6.54 million.


Related Articles

arrow_forward_ios
4075 to 4201 Northwest 34th Street, Lauderdale Lakes and Peak Capital’s CEO Chris Manning (Credit: Google Maps)

Lauderdale Lakes affordable housing complex fetches $17M

Lauderdale Lakes affordable housing complex fetches $17M
Scott Schoenlank, Andor Kovacs and 6041-6047 Kimberly Boulevard, North Lauderdale (Linkedin, Google Maps)

Restoration 1 franchise founder buys North Lauderdale office and retail center for $6M

Restoration 1 franchise founder buys North Lauderdale office and retail center for $6M
3099 N State Rd 7, Lauderdale Lakes (Credit: Google Maps)

Another drugstore sells: Lauderdale Lakes Walgreens flips for $8M

Another drugstore sells: Lauderdale Lakes Walgreens flips for $8M
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
230 US Highway 1 (Credit: Google Maps)

Walgreens sells North Palm Beach store

Walgreens sells North Palm Beach store
Walgreens at 4473 Weston Road and Scott Sandelin

Walgreens-leased property in Weston hits the market

Walgreens-leased property in Weston hits the market
From left: Tal Frydman, Tyler Minix and Jonathan Senn, with the condo complex

Majority of Lauderdale Lakes condo complex sells for $26M

Majority of Lauderdale Lakes condo complex sells for $26M
From left: Howard Sands, Scott Tracy, and Kenton Wright

Walgreen sells store near Boca Raton for $9M

Walgreen sells store near Boca Raton for $9M
arrow_forward_ios

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

Loading...