The Boulder Group, a net leased investment brokerage firm, announced this week that it had completed the sale of a Walgreens portfolio consisting of nine properties located on the east coast for $68.7 million. The properties are located in Connecticut, Massachusetts, New Hampshire and New Jersey. An unnamed Midwest based institutional investment firm purchased the portfolio from a private investment company, represented by The Boulder Group.
The portfolio included the following Walgreens properties:
980 Farmington Avenue in Berlin, CT
1036 West Main Street in Branford, CT
880 North Montello Street in Brockton, MA
1 Glenwood Avenue in Dover, NH
17 Crystal Avenue in Derry, NH
897 Main Street in Melrose, MA
20 West Kings Highway in Mount Ephraim, NJ
1131 US Highway 46 in Ledgewood, NJ
500 Egg Harbor Road in Sewell, NJ
"This portfolio represented a rare opportunity for an investor to acquire a large portfolio of long term triple net leased Walgreens properties and we were able to achieve a sale price within one percent of the asking price," said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, "Walgreens properties with over 20 years of lease term are one of the most sought after assets in the single tenant net lease market, and we had strong demand for this portfolio."
For more news and information visit Blumberg Capital Partners.
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