3/12/2009

Pennsylvania Walgreens sells for $5.85M

by
DG Warwick, LLC has purchased a 14,850-square-foot Walgreens situated on 2.06 acres in Jamison, Pa., from Warwick Building Partnership for $5.85 million.

Mark Taylor and Dean Zang of the Philadelphia office of Marcus & Millichap represented the seller. Mark Thomson, also of the office, procured the locally based buyer.

Located at 2319 Old York Road, the building was built in 2008. Walgreens executed a 25-year absolute net lease with 50 options at one year each. The property also included a cellular phone tower, which was leased back to the seller for a nominal rent concurrent to the base term of the Walgreens lease.

Address: 2319 Old York Road, Jamison, Pa.

Size: 14,850 square feet

Built: 2008

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Filed Under: Retail

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