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In August, TMO represented the buyer of a northern California NNN Walgreens property. The property sold for $12,184,846 and is leased on an absolute triple net basis to Walgreens (Ticker: WAG) on a 75 year lease with 24 firm years remaining. The buyer was a privately held real estate investment company from New York who was in a 1031 Exchange. The seller was represented by Capital Pacific. The low leverage transaction was financed by Lafayette Life Insurance Company which was placed by Ed Isola from Isola & Associates.
For further details about the cap rate and financing terms, please contact Thomas Morgan, CCIM via email or toll free at 1-866-539-1777.