April 5, 2023 – Michael Talbert of Horvath & Tremblay has successfully completed the sale of Walgreens in Altamonte Springs, Florida. Horvath & Tremblay represented the buyer to complete this transaction at a sale price of $6,096,116.
Walgreens is located at 200 West State Road 436 in Altamonte Springs, Florida. The stand-alone building contains 13,566 square feet, including a drive through on a 1.17-acre corner lot. Walgreens has been at this location since its construction in 2006 and recently extended their lease demonstrating their commitment to the site and the market. Walgreens has 15 years remaining on an Absolute NNN Lease, as well twelve (12) 5-year renewal options. The lease also calls for rare 5% increases every 5-years throughout the primary lease term and at the start of each renewal option. The Property is well located at the intersection of W State Road 436 and Wymore Road and is seconds from Interstate 4. Walgreens is located along a dense retail corridor and is surrounded by national retailers that drive traffic to the area. Additionally, the Property is surrounded by densely populated residential neighborhoods providing a built-in customer base. Altamonte Springs is a northern suburb of Orlando and Walgreens is located ten miles from the central business district.
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.