South Dakota Walgreens Sale

DATE September 28, 2019 / AUTHOR AGM

CATEGORY Corporate Growth Announcement, Just Sold

We are happy to announce recent closing of a Walgreen’s listing in Sioux Falls, South Dakota. Our long-time client was motivated to dispose of their Walgreen’s holdings due to a shift in the drugstore market to a smaller format, as well as Walgreen’s aggressive efforts to reduce rents. In our marketing efforts, we successfully produced multiple offers and after a faulty start with an out-of-state 1031 exchange buyer, we ended up transacting with a different, local 1031 buyer at 5% below market rate at the time. With 10.5 years on term, above-average reported sales and a NNN lease, we were just at the sweet spot for investors due to the finance-ability of the investment, increasing our pool of buyers.

Investment Highlights

  • Investment Grade Credit
  • Extremely Limited Pharmacy Competition Market
  • Strong Demographics – Stable Growth
  • Long Term Lease – 11 years
  • Zero Landlord Responsibility
  • High Traffic Volumes and Unparalleled Visibility – 35,000 ADT
  • Strategically Positioned to Serve the Neighborhood and Sanford Children’s Hospital
  • Population and Economy Growth
  • Double Drive-thru


Just Closed – Long Term CVS in California

April 28, 2020 by AGM

When one of our repeat clients called us to find a long term NNN drugstore, we knew we had to dig deep. Finding above average risk-adjusted returns on long term drugstores has become much more cumbersome in the last few months. After searching for a few weeks, we identified the investment and realized there will […]

OFF-MARKET – Mister Car Wash Closing in Cedar Rapids

March 6, 2020 by AGM

We are pleased to announce a closing of an off-market car wash transaction in Cedar Rapids, IA. This transaction represents an up-leg in our client’s 1031 exchange and is the final of 5 properties that they had exchanged into. This investment accomplishes the goal of increasing cash flow to the client, with a sturdy, brand […]

Steak ‘n Shake Sale

February 28, 2020 by AGM

We are happy to announce a successful closing of a Steak ‘n Shake in Hoover, Alabama. The investment was a brand new 20-year Sale-Leaseback from the current operator and the franchisee at the site. The site was a successful location for Steak ‘n Shake for over a decade and with Whole Foods as an anchor […]