Marcus & Millichap arranges the sale of a Walgreens in Wichita for $5.15 million
February 14, 2023
WICHITA, Kan., February 14, 2023 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage specializing in investment sales, financing, research and advisory services, today announced the sale of a Walgreens, a 14,820-square-foot net leasehold property located in Wichita, Kansas, according to John Horowitz, first vice president and division manager based in the firm’s Manhattan office. The asset sold for $5,158,000.
“The sale of this Walgreens was really a win-win as the seller went out of business to make a profit and the buyer acquired a safe NNN pharmacy with increased sales in a high growth market,” he said Christopher Pappas. Pappas and Michael Cardone, investment specialists in the Manhattan office of Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a New York firm engaged in a 1031 swap, was insured and represented by Michael Fusco, Michael Kook, Seth Glasser and Steven J. Siegel, investment specialists in the Manhattan office of Marcus & Millichap. Colby Haugness, a broker in Kansas, witnessed the closing of this transaction.
The property is located at 13534 West Maple Street. The property is strategically located in a highly active retail hub surrounded by a number of national retailers including Dillon’s, Starbucks, Sonic, a recently built Sherwin Williams and a new fast-food development underway. The asset is located in Auburn Hills, one of Wichita’s most affluent neighborhoods.
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About Marcus & Millichap (NYSE:MMI)
Marcus & Millichap, Inc. is a leading brokerage specializing in commercial real estate investment sales, financing, research and advisory services with offices in the United States and Canada. As of December 31, 2021, the firm had 1,994 sales and investment finance professionals in 82 offices providing investment finance and brokerage services to sellers and buyers of commercial real estate. The firm also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with sales volume of approximately $84.4 billion. For more information, visit www.MarcusMillichap.com.
Marcus & Millichap Inc. posted this content on February 14, 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, su February 14, 2023 18:21:02 UTC.
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