ERG Property Advisors closes $16 million sale of a NNN Walgreens
ERG Property Advisors arranged the $16 million sale of a triple-net (NNN) leased Walgreens.
Walgreens has a 25-year triple-net lease with renewals extending out to 60 years. The property sits on 1.3 acres located on Warner Ave. which boost over 57,000 vehicles per day. Other major retailers in the immediate area include: McDonald's, Ralphs, CVS, Trader Joe's, Chase Bank, Bank of America and Wells Fargo.
Brooklyn, NY Investment Property Realty Group (IPRG) closed the sale of 343A Tompkins Ave., a mixed-use building located in the Bed-Stuy section of the borough, for $1.97 million.
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
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