Chicago, IL (December 13th, 2021) – Quantum Real Estate Advisors, Inc. has brokered the sale of a single-tenant former Walgreens located at 1551 W Central Ave, Temple, TX. The property sold for $6,425,000. The property was built in 2013 for Walgreens and features unique, institutional-quality construction. In June of 2016, Walgreens sub-let the space to Express ER with Express ER signing a long-term lease and investing significantly in the space. The Seller was a private investor based in Alabama. The Buyer was a 1031 buyer based in Texas. Dan Waszak, Executive Vice President of Quantum Real Estate Advisors, Inc., represented the Seller in the transaction.
Mr. Waszak had the following comments regarding the transaction, “the Seller was repositioning his portfolio and saw an opportunity to sell a well-located medical asset with an investment-grade tenant backing it.” He continued, “this was a complicated transaction as the Seller was doing a substitution of collateral, which required a simultaneous close. However, all parties worked together to close this transaction without any major hiccups.”
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.