Quantum Real Estate Advisors, Inc. Brokers Sale of a 15,314 Square Foot Walgreens Located in Memphis, TN

Chicago, IL (December 13th, 2021) – Quantum Real Estate Advisors, Inc. has brokered the sale of a single-tenant Walgreens located at 1863 Union Ave, Memphis, TN. Built in 1995, Walgreens has been in continuous operation since then with Walgreens signing a new, 20-year lease in 2014. The property sold for $6,056,000. The seller was a Chicago-based investment fund and the buyer was an Alabama-based 1031 buyer. Dan 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 second leg of my client’s 1031 exchange. We had to coordinate a simultaneous close here with multiple parties working together to successfully execute. Fortunately, everyone was able to work in lockstep to get this done.” Mr. Waszak continued, “this transaction shows the continued strength and desirability of well-located, long-term leased assets.”

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.

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