February 21, 2020 – Brian Ahrens of Horvath & Tremblay has successfully completed the sale of Walgreens in Auburn, Maine. Horvath & Tremblay procured the buyer to complete this transaction at a sale price of $2,150,000.
Walgreens is located at 61 Union Street in Auburn, Maine. The stand-alone building contains 11,180 square feet, including a drive through on a 1.79 acre lot. Walgreens recently extended their lease and has approximately 7.5 years remaining on a double net (NN) lease, as well as five, 5-year renewal options, each with a 5.0% rent increase. This location has a long and successful operating history as a drug store since 1997, with strong store sales and a low rent-to-sales ratio.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.