Marcus & Millichap, a leading commercial real estate brokerage firm, recently facilitated the sale of a net-leased Walgreens property in Jefferson City, Missouri for $4,189,000. The property was marketed by investment specialists Nicholas Kanich and Mitch Grant from Marcus & Millichap’s Chicago Downtown office on behalf of the seller – an investor based in Kansas City. The buyer was procured by a local broker representing a group from Jefferson City who were looking to complete a 1031 exchange. Dave Saverin – Broker of Record in Missouri – also played an important role in assisting with the transaction.
The Walgreens location at 900 Eastland Drive has been operating for over 14 years and currently has more than 10 years remaining on its absolute triple-net lease. This modern facility spanning over 14,820 square feet was built in 2010 and is conveniently located just off Rex M. Whitton Expressway with daily traffic counts exceeding 35,600 vehicles per day. Nearby retailers include Gerbes Supermarket,Dollar General,McDonald’s,and Taco Bell.
This recent sale marks another successful deal completed by Marcus & Millichap as they continue to be one of the top players within the commercial real estate market.
