129
LAKE ELSINORE, CALIF. — A single-tenant Walgreens location in Lake Elsinore has sold to a private investor from Palm Desert, Calif., for $8,086,409. It sold at a 6.48 percent cap rate. The 13,678-square-foot building was constructed in 2011 on a 1.57-acre parcel at 31781 Mission Trail Road. It is leased to Walgreens for 75 years. Hanley Investment Group Real Estate Advisors’ William B. Asher and Jeremy S. McChesney represented both the buyer and the seller, a private investor from Seal Beach, Calif., in this transaction.