August 19, 2020 – Dan Bernardini of Horvath & Tremblay has successfully completed the sale of Walgreens in Warren, Michigan. Horvath & Tremblay procured the buyer to complete this transaction at a sale price of $4,360,000.
Walgreens is located at 11635 E 13 Mile Road in Warren, Michigan. The stand-alone building contains 13,836 square feet, including a drive through on a 1.56-acre lot. Walgreens has been at this location since its construction in 2002 and has 7 years remaining on an Absolute NNN Lease, as well as ten, 5-year renewal options. Walgreens is situated on a corner lot at the signalized intersection of 13 Mile Road and Hoover Road with a combined traffic count of 43,587 vehicles per day. Additionally, the property is in between two major medical facilities, the Ascension Macomb Oakland Hospital and the Beaumont Medical Center.
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.