M&M ARRANGES $11.5M SALE OF WALGREENS IN TWIN CITIES
BURNSVILLE, MINN. — Marcus & Millichap has arranged the $11.5 million sale of a 14,490-square-foot Walgreens drugstore in Burnsville, a suburb approximately 20 miles south of downtown Minneapolis. The sale equates to $794 per square foot. The Walgreens is located at 950 County Road 42 W. The property is an outparcel to a Super Target-anchored retail center and a newly constructed Costco. Walgreens is operating this property under a corporate-guaranteed 75-year absolute net lease that has 21 years remaining. The store moved to its current location in 2009. Sean Doyle of Marcus & Millichap’s Minneapolis office represented the undisclosed seller. Brandon Hanna of the firm’s Detroit office represented the buyer, a Florida-based private investor.