Walgreens in Miami Shores Sells for $8.2M

Walgreens property in Miami Shores sells for $8.2 million in a deal brokered by JLL Capital Markets.

By skyrealm.ai on Feb 10, 2022
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Walgreens in Miami Shores Sells for $8.2M

Miami Shores has seen a significant commercial real estate transaction with the sale of a Walgreens property located at 9020 Biscayne Blvd. The deal, brokered by JLL Capital Markets, saw the property change hands for a total of 8.2 million. The retail property spans 15,206 square feet and sits on a 1.07-acre lot. The sale price equates to 542 per square foot, indicating a strong valuation for the property.

The buyer and seller involved in the transaction have not been disclosed, but the involvement of JLL Capital Markets suggests that both parties were likely institutional investors or high-net-worth individuals. JLL Capital Markets is a leading commercial real estate brokerage firm known for its expertise in facilitating large-scale transactions.

The Walgreens property is a highly desirable asset due to its prime location in Miami Shores. Miami Shores is a vibrant neighborhood known for its affluent residents and strong retail demand. The property’s proximity to major transportation routes and other commercial establishments further enhances its appeal.

Walgreens is a well-established national pharmacy chain with a strong presence in the Miami area. The company’s long-term lease agreement with the property ensures a stable income stream for the new owner. The combination of a reputable tenant and a prime location makes this property an attractive investment opportunity.

The brokers involved in the deal, Alex Sharrin, Alex Geanakos, Jeffrey Cicurel, Danny Finkle, and Eric Williams of JLL Capital Markets, played a crucial role in facilitating the transaction. Their expertise in the Miami commercial real estate market and their extensive network of investors likely contributed to the successful sale of the property.

Overall, the sale of the Walgreens property in Miami Shores for $8.2 million is a significant transaction that highlights the strong demand for prime retail assets in the area. The involvement of JLL Capital Markets and the high price per square foot indicate the attractiveness of the property to investors. As Miami Shores continues to thrive, commercial real estate transactions like this one are expected to remain active in the market.