FT. LAUDERDALE, FL, July 6, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has secured the exclusive listing for a five-store Walgreens portfolio located across the Midwest and the Southeast.
In all, the assets encompass 70,403 square feet on 7.52 acres.
Marc Strauss, (top right photo) a vice president investments and a senior director of the National Retail Group in the Fort Lauderdale office of Marcus & Millichap, is representing the seller. 
John Przybyla, (middle left photo) first vice president of the Chicago Downtown office; John Glass (bottom left photo) , regional manager of the Cleveland office; Stephen Maulden (bottom right photo, below John Leonard photo) , regional manager of the St. Louis office; Matt Fitzgerald (lower left photo), regional manager of the Des Moines office; and John Leonard (lower right photo) , first vice president of the Atlanta office; are also involved in this transaction. 
“This portfolio is available with low-interest assumable financing, which provides and investor with an outstanding initial cash-on-cash return with a low down payment,” explains Strauss. 
“Long-term double-net leases are in place for all five properties. In addition, the new ownership will benefit from Walgreens’ status as a credit tenant with a Standard & Poor’s rating of A+.”The properties are located in Chicago, Ill.; Medina, Ohio; Independence, Mo..; Muscatine, Iowa; and Decatur, Ga. Each store features a standard 60-year lease with tenant rights to terminate every five years, beginning on the 20th year of the lease.
As part of this sale, the new owner has the option to buy the corporate entity, which will save the buyer time and reduce overall costs to assume the current loan. The seller has agreed to contribute to the costs of the assumption.Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
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