Chicago, IL (May 20th, 2020) – Quantum Real Estate Advisors, Inc. has brokered the sale of a single-tenant Walgreens located at 1140 N Main Street, Providence, RI. The property sold for just under $9,000,000. Walgreens has occupied the property since 2007 and had just over 12-years remaining on the primary term of its Lease. The Seller was an Ohio based investment group. The Buyer, a private investor from New York City, purchased this as part of a 1031 exchange. Dan Waszak, Senior Vice President of Quantum Real Estate Advisors, Inc., represented the purchaser in the transaction.
Mr. Waszak had the following comments regarding the transaction, “This was the last acquisition in a multi-property 1031 exchange for the Purchaser. His familiarity with the market coupled with the long-term lease made this an excellent fit to round out his 1031 exchange.” Mr. Waszak continued, “The buyer was able to obtain attractive financing on this deal, showing the continued resiliency and demand for the ‘essential-retailers’ in the net-lease space.’
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.