New York City Walgreens Sells for $15.68 Million in Deal Brokered by Marcus & Millichap

Walgreens,  Guy R. Brewer Boulevard, Queens, New York City, NY

 

Steven Siegel

NEW YORK, NY – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a freestanding, 10,500-square-foot Walgreens drugstore in the New York City borough of Queens.

The $15,684,000 sales price equates to $1,494 per square foot.

            

Steven Siegel and Michael Kook in Marcus & Millichap’s Manhattan office represented the seller and procured the buyer.

            

“The property is a dominant drugstore in a densely populated trade area,” says Siegel. “The store’s location and sales volume drew interested buyers from throughout the net-leased property investment community.”

Built in 2010, this Walgreens drugstore is located on a 0.71-acre parcel on Guy R. Brewer Boulevard in Queens. More than 10,000 people live within a half-mile radius of the store and there are over 40,000 people within a one-mile radius.

For a complete copy of the company’s news release, please contact:

Gina Relva, Public Relations Manager

(925) 953-1716