- Marcus & Millichap (MMI -1.5%) has closed the sale of an eight-property Walgreens portfolio, for $44.33M.
- The company arranged $14M in acquisition financing in the deal. Four of the properties are in Texas, with the others spread in Illinois, New York, Ohio and South Carolina.
- "Drugstores are still the stalwart of the net-leased investment property sector, valued for their bullish secular trends and robust credit backing," says MMI's Mark Taylor.
- The properties are free-standing, triple net leased assets with primary terms of 14-16 years remaining, usually with 10 five-year option renewals.