Bob Horvath and Todd Tremblay, vice presidents of investments of Marcus & Millichap Real Estate Investment Services, one of the nation's largest real estate investment services firms, have brokered the transaction of a Walgreens.
Walgreens closed at a sale price of $5.95 million. Horvath and Tremblay represented the seller CARL II, LLC. The buyer was TAG III, LLC.
Built in 2001, Walgreens signed the original 20-year double net (NN) lease which includes (8) five year options. The property benefits from its location at the signalized intersection of Plymouth St. and Franklin St. and is less than one mile from downtown Holbrook. Plymouth St. serves as the main thoroughfare traveling through the town with traffic counts in excess of 16,000 vehicles per day.
Walgreens offers customers easy store access with points of ingress and egress along Plymouth St., South Franklin St. and Norfolk Rd. This store also offers a double drive through pharmacy for customers. National and regional retail tenants in the area include Dunkin' Donuts, CVS, Burger King, Randolph Savings Bank, Santander Bank and NAPA Auto Parts.
With over 1,300 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 6,600 transactions in 2013 with a value of $24 billion.
The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.