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Brand Names Lure Drug Store Investors

LOUISVILLE—Few properties are as enticing to net lease investors than Walgreens with long-term leases.

By Brian J. Rogal | Updated on May 07, 2014

LOUISVILLE—Although many investors in single tenant net lease properties focus on core markets, the lure of a property with a great brand name, even if it is outside a core area, can also be powerful. And investors find few sectors as appealing as drug stores.

Quantum Real Estate Advisors, Inc., for example, has just brokered the sale of a freestanding Walgreens in Louisville for nearly $7.8 million. The property has a long-term lease with over 24 years remaining. The seller was a Louisville-based developer and the buyer was a private individual based in New York. Jordan Kaufman, executive vice president and Dan Waszak, senior vice president at Quantum represented the buyer.

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