REBusinessOnline

SRS Brokers $14.4M Sale-Leaseback of Single-Tenant Retail Property in Miami Leased to Walgreens

Walgreens sold the property in Miami and has signed a new 15-year, triple-net lease.

MIAMI — SRS Real Estate Partners’ National Net Lease Group (NNLG) has facilitated the $14.4 million sale of a single-tenant retail property located 3595 Coral Way in Miami. Comprising 16,285 square feet, the property is occupied by the seller, Walgreens, which has signed a new 15-year, corporate guaranteed, triple-net lease. Sean Lutz, Dan Elliot, Matthew Mousavi and Patrick Luther of SRS represented the buyer, a Nevada-based private investor, in the 1031, all-cash transaction.

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