Grubb & Ellis Realty Investors Acquires Walgreens Building in Chelsea, AL for Wealthy Management Client

SANTA ANA, CA /PRNewswire/ -- Grubb & Ellis Realty Investors, LLC has acquired a Walgreens building in the Birmingham-suburb of Chelsea, Ala., on behalf of a private investor participating in the Grubb & Ellis Wealth Management program.


Located at 16468 Block US Highway 280,(middle left map) the newly constructed Walgreens building offers approximately 14,800 square feet of rentable space, 70 parking spaces and a drive-thru pharmacy window.



Built on approximately 1.7 acres of land, the freestanding building lies at the northeast corner of US Highway 280 and Chesser Plantation Lane. The property is 100 percent leased to Walgreens Co., the nation's largest retail pharmacy chain.



"Through the Wealth Management program, Grubb & Ellis Realty Investors provides qualified investors with the benefits of real estate ownership without the day-to-day headaches of active management," said Grubb & Ellis Realty Investors President and Chief Investment Officer Jeff Hanson (top right photo).

"This acquisition is a superb example of the high quality assets we acquire and manage on behalf of clients. The area immediately surrounding the Walgreens building is dominated by various retail developments, as well as new residential developments that will offer multiple walking trails, lakes and parks."

CONTACT:

Julia McCartney of Grubb & Ellis Realty Investors, LLC,+1-714-667-8252, ext. 230, julia.mccartney@grubb-ellis.comWeb site: http://www.grubb-ellis.com/