The seller was a local Chicago investment group. The Miami-based buyer specializes in acquiring and developing net lease properties across the country. Both Chad M. Firsel and Zack Hilgendorf, Quantum’s president and SVP, respectively, represented the seller.
“Demand for pharmacy deals at a proven site with strong sales still remain strong; and, this deal was just another example of this trend,” said Hilgendorf. “Considering the pandemic and the essential retailer that Walgreen’s is just reassured the market that this company and concept are critical in the American retailing society.”
Walgreens has occupied the property since 2000 and recently exercised its first of eight five-year extensions.