Friday, August 16, 2013

Walgreens, CVS Properties Sold for $22.4M

Menlo Capital Group acquired two net-leased retail buildings, a Walgreens in Saint Albans, NY and a CVS in Phoenixville, PA, from Elion Real Estate Investments for $22.43 million, or about $978 per square foot. 

The Walgreens at 112-55 Farmers Blvd. in the South Queens submarket of Long Island totals 9,988 square feet. It was built in 2011 on half an acre. The CVS at 130 Nutt Rd. in the Exton/Whitelands submarket of Philadelphia totals 12,900 square feet. It was built in 2010 on 2.4 acres.

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