Apr
29

Fayetteville Walgreens Sold

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Marcus & Millichap has brokered the sale of a 14,490-square-foot Walgreens store at 1600 Skibo Road in Fayetteville. The property, which sold for approximately $5.6 million, operates 24 hours a day and features a drive-thru pharmacy. The free-standing Walgreens unit was constructed in 2002 and a 60 year net lease established with the Walgreens Company. There is currently over nine years remaining prior to the first termination option for the tenant, which then continues every five years through the entire base term.

Michael Early of Marcus & Millichap’s southern Virginia office represented the seller, an individual trust, in the transaction. Ned Zivkovic and Alvin Mansour of The Mansour Group in Marcus & Millichap’s San Diego office secured and represented the buyer, a private investor. James Allen Smith of Marcus & Millichap assisted in the transaction.

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    Categories : Fayetteville

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