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Walgreens Retail Building Goes to Auction

JACKSONVILLE, FL—Madison Hawk is holding a real estate auction for a freestanding Walgreens building in east of Downtown Jacksonville, FL. The retail asset is in a Chapter 11 bankruptcy proceeding.

By Jennifer LeClaire | Updated on August 14, 2013

JACKSONVILLE, FL—Madison Hawk is holding a real estate auction for a freestanding Walgreens building in east of Downtown Jacksonville, FL. The retail asset is in a Chapter 11 bankruptcy proceeding.

Located at 1220 University Avenue, the 1.72-acre property is home to a 15,070-square-foot Walgreens that generates $302,000 in yearly net operating income. The Walgreens Co. lease is double net (NN). The initial term runs through 2019.

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