In mid August, TMO represented the buyer of a northern California NNN Walgreens property. The property sold for $12,184,846 and is leased on an absolute triple net basis to Walgreens (Ticker: WAG) on a 75 year lease with 24 firm years remaining. The buyer was a privately held real estate investment company from New York who was in a 1031 Exchange. The seller was represented by Capital Pacific's San Francisco office. The low leverage transaction was financed by Lafayette Life Insurance Company which was placed by Ed Isola from Isola & Associates.
For further details about the cap rate and financing terms, please contact Thomas Morgan, CCIM via email or toll free at 1-866-539-1777.
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