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Brokerage
Posted: November 21, 2012
Fantini & Gorga arranges $4.3 million for Walgreens Pharmacy
Fantini & Gorga arranged a $4.3 million financing package, as part of a 1031 tax deferred exchange, for a free standing Walgreens Pharmacy. The property was acquired by a private real estate investment group from California. Casimir Groblewski, managing director, represented the client and arranged the financing with a Connecticut-based savings institution.
The 15,120 s/f Walgreens, which opened in 2001, is located at the corner of Rtes. 4 and 202, west of Rte. 8. The property's visibility and accessibility, as well as the strong credit rating of the tenant, made it attractive to a number of potential buyers and lenders.
"We were very pleased to be able to execute this transaction on behalf of our clients, who faced a significantly tight time frame. The lender recognized the value in the real estate and responded in a creative and timely manner," said Groblewski.
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Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
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This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.
