January 13, 2022 – Kyle Danielson and Luke Thomson of Horvath & Tremblay have successfully completed the sale of Walgreens in Palatine Bridge, New York. Horvath & Tremblay represented the buyer to complete this transaction at a sale price of $3,000,000.
Walgreens is located at 9 East Grand Street in Palatine Bridge, New York. The stand-alone building contains 11,060 square feet, including a drive through on a 2.19-acre lot. Originally built as a Rite Aid in 1998, Walgreens assumed operations in 2018 and exercised its first two renewal options in 2019, demonstrating their long-term commitment to the site. Walgreens has 8.5+ years remaining on a triple net lease, as well as three (3), 5-year renewal options. Walgreens is extremely well positioned in the trade area, at the high traffic signalized intersection of East Grand Street and Bridge Street, the areas primary commercial and commuter corridors. The property is positioned at the entrance to the Dutchtown Plaza which is anchored by Big Lots and Tractor Supply and is 0.5-miles from Interstate 90. The property is surrounded by national retailers with Price Chopper, Tractor Supply Co, Big Lots, Dollar General, AutoZone, Napa Auto Parts, McDonalds, Subway, and more driving traffic to the trade area.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.