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October 19, 2019
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SACRAMENTO NEWS
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Sacramento Area Walgreens Sells for $740/sf

5/01/18

An Orange County based investor paid $10.95 mil for a 14.8k sf ($740/sf), single-tenant Walgreens in the Sacramento-area city of Citrus Heights. The property sold with with approximately 15 years remaining on the initial term and a CMBS loan assumption.

The Walgreens is located at 6199 Sunrise Blvd, at the hard corner intersection of Greenback Lane and Sunrise Blvd, which has a combined 80,300 cars per day. Sunrise Mall, a 1.2 msf super-regional shopping center anchored by Macy’s, JCPenney and Sears with over 120 stores and restaurants, is across the street from Walgreens. The property is an outparcel to a Lowe’s anchored center, and is shadow anchored by other major national/credit tenants that include Walmart, Target, Best Buy, Michael’s and Barnes & Noble.

Sam Hanna, Ara Rostamian and Patrick Luther with SRS’ National Net Lease Group worked with both the buyer and seller on the transaction.

“Both buyer and seller were highly motivated,” said Hanna. “This transaction sold in under 30 days, which is unheard of with any type of loan assumption let alone a CMBS loan assumption.”





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