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SCHAUMBURG, IL-A Walgreens pharmacy here has been sold for a capitalization rate below 6%. The 14,820-sf store being built at 770 E. Schaumburg Rd., triple-net leased to the Deerfield-based pharmacy giant, was sold for $5.8 million.
Public records indicate the Walgreens was sold by the Park Ridge-based owners of the neighboring Market Square retail center at the corner of Schaumburg and Plum Grove roads. Besides selling at $390 per sf, the Walgreens deal was at a 5.9% capitalization rate.
Marcus & Millichap Real Estate Investment Brokerage Co. retail property specialists Michael Marks and George Ghattas represented the sellers while Paul Takacs of the firm handled negotiations for the buyer.
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