Marcus & Millichap, a leading real estate investment firm, recently closed the sale of a Walgreens property in Bluffton, Indiana. The net-leased location was sold for $2,372,727.
According to David Klink, senior associate at Marcus & Millichap’s Indianapolis office: “Despite the volatility in the market for net-leased drug stores, we were able to generate multiple offers and ultimately secure an out-of-state 1031 exchange buyer.”
The exclusive listing for this property was held by Jordan Klink and David Klink of Marcus & Millichap’s Indianapolis office. They represented Eureka Limited Company as the seller and procured Valuecom22 LLC as the buyer.
Located at 1975 N. Main St., just south of Fort Wayne in Bluffton’s main retail corridor,the Walgreens property sits on 1.89 acres at a signalized hard-corner intersection.The building was constructed in 2003 and has approximately4.5 years remaining on its absolute triple-net lease.It is surrounded by major national retailers such as Walmartand Lowe’s,making it an attractive investment opportunity.
