REBusinessOnline

Colliers Brokers $55M Sale of 10 Walgreens Stores in Florida, Georgia

TAMPA, FLA. — Colliers International has brokered the $55 million sale of 10 single-tenant retail properties in Florida and Georgia that are net-leased to Walgreens. Mike Milano, Sean Glickman, Donald Jennewein, Nathan Lynch and Tara Paronto of Colliers arranged the transaction on behalf of the seller, Olympia Development Group. A California-based real estate investment company acquired six of the locations, while private investors purchased the other four locations as part of a 1031 exchange. The sales prices ranged from $2.7 million to $8.2 million. Two of the Walgreens stores are located in Naples, and the other Florida locations are in Sarasota, Temple Terrace, Bradenton, Merritt Island, Seminole, Dunedin and Oldsmar. The one Georgia property is located in Lawrenceville. Each building ranges between 15,000 and 17,000 square feet.

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