Two More Walgreens Close for Capital Pacific - One fee and one leasehold
 Capital Pacific San Francisco recently closed two Walgreens transactions located in Scarsdale, NY and Okmulgee, OK. The first Walgreens was located in Westchester County - the second wealthiest county in New York. Capital Pacific listed the new-construction property directly for the developer. The transaction required a higher level of sophistication as the sale only included the leasehold position and not the land. Despite the complexities Capital Pacific was still able to generate more than a half dozen offers and the ultimate high bidder was a local buyer familiar with the asset. The property sold for $5,575,000 and the buyer was represented by a local broker. Capital Pacific again demonstrated its national reach and willingness to cooperate with other brokers on the Okmulgee, OK transaction. The buyer's broker contacted Capital Pacific with an extremely challenging 1031 exchange need: the client wanted a new construction NNN Walgreens in the $3,000,000 range. Capital Pacific was able to utilize its extensive network to find a rare smaller Walgreens for the broker, in the desired price range. The transaction closed in 60 days. |