4/29/2008

Grubb & Ellis acquires two Walgreens properties in Ohio

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Grubb & Ellis Realty Investors, LLC has purchased two Walgreens buildings in Upper Arlington and Marysville, Ohio, on behalf of private investors participating in its Wealth Management Program.

In the Columbus suburb of Upper Arlington, Grubb & Ellis purchased 3141 Tremont Rd., a two-story, single-tenant retail building. It contains 25,000 square feet and is situated on 1.3 acres.

It is 100 percent leased to Walgreens and was purchased from Arlington-Tremont, LLC, a company represented by Robert Miller of MillCo Investments.

Grubb & Ellis purchased a second Walgreens property at 180 Coleman's Crossing in Maryville, a town approximately 30 miles northwest of Columbus. It contains 15,000 square feet and sits on two-acres of land.

The building was also purchased from Arlington-Tremont, LLC, which was again represented by Miller of MillCo Investments.

Miller founded MillCo Investments in 1999 and is a former vice president with David Kaufman & Company. He is currently responsible for the day-to-day operations of the firm and is a graduate of the University of Wisconsin-Madison.

Grubb & Ellis has made numerous acquisitions in 2008 for its newly launched Wealth Management Program, including a Fifth Third Bank building in Montgomery, Ill., a CVS Pharmacy building in Decatur, Ga., and a two-building portfolio in Carpentersville and Northlake, Ill.

Address: 3141 Tremont Rd., Upper Arlington, Ohio
- 180 Coleman's Crossing, Marysville, Ohio

Size: 40,000 square feet

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Filed Under: Retail

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