Marcus & Millichap sells Walgreens for $7.735 million

Providence, RI Marcus & Millichap completed the sale of Walgreens, a 14,259 s/f net-leased property, according to Tim Thompson, regional manager of the firm’s Boston office. The asset sold for $7.735 million.

Adam Cohen, an investment specialist in Marcus & Millichap’s Boston office, exclusively listed the property on behalf of the seller, an out-of-state investor. Cohen also brought the buyer, a N.Y. investor who owns other property in Rhode Island, to the deal.

Walgreens is located at 1 Pocasset Ave in Providence, RI.  It was built in 2008 and features a drive-thru, more than 50 parking spaces and a loading dock inside its fenced-in 1.28 acre lot.