NORTHBROOK, ILL.–A South Dakota-based investor has purchased a single tenant net leased Walgreens property located at 1550 S.W. 27th Street in El Reno, Okla. for $4.887 million. Randy Blankstein, president, and Jimmy Goodman, partner, of Northbrook, Ill.-based The Boulder Group represented the seller in the transaction.
Walgreens is the sole occupant of the 13,650-sq.-ft. retail building that was developed in 2009. The property is located on a 1.6-acre parcel and is less than a quarter mile from the Interstate 40 interchange. The property is fully leased to Walgreens with 22 years of lease term remaining.
“The net leased Walgreens market remains active as investors are attracted to investment-grade-rated companies with over 20 years of lease term remaining,” said Blankstein.