Oak Street Real Estate Capital buys Oakland Park Walgreens for $7M

Buyer sold another Walgreens, in Delray Beach, in June

Miami /
Nov.November 09, 2020 03:30 PM
Oak Street Jim Hennessey and Marc Zahr with 3100 North Andrews Avenue, Oakland Park

Oak Street Jim Hennessey and Marc Zahr with 3100 North Andrews Avenue, Oakland Park

The flurry of Walgreens trades continues with an Oakland Park store selling for $7.3 million.

Walgreen Co. sold the store at 3100 North Andrews Avenue. The buyer is a company affiliated with Chicago-based private equity firm Oak Street Real Estate Capital.

In June, Oak Street sold a Delray Beach Walgreens store for $8.1 million, less than a year after the firm bought it. Oak Street Real Estate Capital is led by Marc Zahr and co-founder Jim Hennessy.

Walgreen Co. bought the Oakland Park land in 2005 for $644,000, according to records. The store was built in 2008.

Walgreens also signed a lease for the Oakland Park store for 17 years, with extension available for 12 consecutive periods for five years, according to records.

Some local sales of Walgreens pre-date the pandemic. In February, Walgreen Co. sold a store in Boca Raton to a Los Angeles-based investment group for $9.15 million.

In April, Walgreen Co. sold one of its stores in Lauderdale Lakes for $7 million to SunTrust Equity Funding, and an affiliate of Harris Realty & Associates listed a Weston Walgreens for $11 million.

SunTrust Equity Funding bought another Walgreens, this one in North Palm Beach, for $6.9 million in May.






    Related Articles

    arrow_forward_ios
    1260 Washington Avenue and 1234 Washington Avenue with Location Ventures CEO Rishi Kapoor (Google Maps, Location Ventures)
    Location Ventures buys South Beach office, retail property for $20M
    Location Ventures buys South Beach office, retail property for $20M
    Shoma Group president Masoud Shojaee and renderings of the project (Shoma Group)Shoma Group president Masoud Shojaee and renderings of the project (Shoma Group)
    Shoma pays $16M for North Bay Village site, plans Publix-anchored apartment project
    Shoma pays $16M for North Bay Village site, plans Publix-anchored apartment project
    Raanan Katz of RK Centers and Best Buy at 1880 Palm Beach Lakes Boulevard in West Palm Beach (RK Centers and Orion Miami)
    Raanan Katz’s RK Centers buys West Palm Best Buy for $12M
    Raanan Katz’s RK Centers buys West Palm Best Buy for $12M
    (Photos courtesy of Uptown Boca)
    Amazon Fresh to open 1st Florida store in west Boca Raton
    Amazon Fresh to open 1st Florida store in west Boca Raton
    Guess CEO Carlos Alberini (Getty, Google Maps)
    Guess it didn’t work out: Guess loses suit seeking rent break at Lincoln Road store in Miami Beach
    Guess it didn’t work out: Guess loses suit seeking rent break at Lincoln Road store in Miami Beach
    Green Tree Apartments with (from left) R.O.I. Capital founders Noam Avrahami, Shay Atiya, Shay Milch and Northland Investment founder Lawrence Gottesdiener
    R.O.I. Capital buys Oakland Park multifamily complex for $59M
    R.O.I. Capital buys Oakland Park multifamily complex for $59M
    David Grutman (center) with Shareef and Al Malnik and the Forge at 432 West 41st Street in Miami Beach (Getty, Google Maps)
    Expanding his empire: David Grutman to take over The Forge in Miami Beach
    Expanding his empire: David Grutman to take over The Forge in Miami Beach
    325 East Atlantic Avenue in Delray Beach (Google Maps)
    Downtown Delray Beach retail building sells for $12M
    Downtown Delray Beach retail building sells for $12M
    arrow_forward_ios

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

    Loading...