October 5, 2022 – Luke Thomson, Todd Tremblay and Bob Horvath of Horvath & Tremblay have successfully completed the sale of Walgreens in Birmingham, Alabama. Horvath & Tremblay represented the buyer to complete this transaction at a sale price of $4,485,000.
Walgreens is located at 2301 Center Point Parkway in Birmingham, Alabama. The stand-alone building contains 13,904 square feet, including a drive through on a 2.05-acre lot. Walgreens has been at this location since its construction in 1998 and recently extended their lease demonstrating their commitment to the site and the market. Walgreens has 6+ years remaining on an Absolute NNN Lease, as well eight (8) 5-year renewal options. The Property is situated on a highly visible corner parcel at the signalized intersection of 23rd Avenue NW and Center Point Parkway (AL Highway 75), the area’s primary commercial corridor. The Property benefits from outstanding visibility and frontage with strong daily traffic counts. The immediate area is home to countless national retailers including several grocery stores (Walmart Neighborhood Market and Food Giant) and nationally branded restaurants driving customers to the area. Additionally, Walgreens is approximately 2-miles from Center Point High School and Jefferson State Community College.
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.