October 28, 2022 – Joe Prisco, Steven Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of Walgreens in Greenville, North Carolina. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete this transaction at a sale price of $3,715,000.
Walgreens is located at 671 S Memorial Drive in Greenville, North Carolina. The stand-alone building contains 14,490 square feet, including a drive through on a 1.96-acre lot. Walgreens has been at this location since its construction in 2001 and recently extended their lease demonstrating their commitment to the site and the market. Walgreens has 9+ years remaining on their double net (NN) lease, as well six (6) 5-year renewal options. The lease features rare rent increases at the start of each renewal option. The Property is situated adjacent to the signalized intersection of S Memorial Drive (US Route 13) and Stantonsburg Road/Farmville Boulevard in the heart of downtown Greenville. The Property is across the street from the East Carolina University Medical Center and is positioned directly in between East Carolina University’s main campus and their School of Medicine’s campus creating a strong trade area with numerous medical facilities, national tenants, and local restaurants and businesses that drive traffic to the area. The Property benefits from excellent visibility and frontage as well as three points of access.
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.