Chicago, IL (July 9th, 2021) – Quantum Real Estate Advisors, Inc. has brokered the sale of a single-tenant Walgreens located at 1650 Washington Ave, Alton, IL. The property sold for $6,101,694. Walgreens had recently extended its lease, giving them roughly 12 years of term remaining at the time of closing. The seller was a Midwest-based real estate investor and developer. The buyer was a California-based fund. Dan Waszak, Executive Vice President of Quantum Real Estate Advisors, Inc., and Zack Hilgendorf, 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 the original developer of the property and has owned it for almost 20-years. Getting the lease extension created new value that they were able to capitalize on.” Mr. Hilgendorf added, “this is yet another example of the ‘flight to safety’ buyers are looking for. This is a top-performing, essential needs retailer that had just committed long-term to the location. Those are the factors we see most buyers looking for.”
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.