Chicago, IL (June 17th, 2022) – Quantum Real Estate Advisors, Inc. has brokered the sale of a 13,650 square foot Walgreens in Grand Island, NY. The property sold for $5,994,000. Built in 2009, there were roughly 12.5 years remaining on the original 25-year Walgreens lease. The buyer was a private, 1031 exchange investor based in New York. The seller was a New York-based developer and investor. Daniel Waszak, Executive Vice President of Quantum Real Estate Advisors, Inc. represented the buyer in the transaction.
Mr. Waszak had the following comments regarding the transaction, “this was the last property in a large, multi-leg 1031 exchange. While this final transaction wasn’t without it’s challenges, all parties were able to work together to complete the sale and finalize the entire 1031 exchange.” Mr. Waszak continued, “pharmacy assets, specifically Walgreens, continue to be considered ‘anchor tenants’ in large portfolios. This transaction illustrates that point.”
Quantum Real Estate Advisors, Inc. (www.QREAdvisors.com) specializes in investment sales brokerage, assisting clients in the acquisition and disposition of commercial real estate. Quantum has the capacity through strategic alliances to offer full-service leasing brokerage, receivership, management, and financing.