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ERG Property Advisors Announces Closing of a NNN Walgreens in Huntington Beach, California

New York – January 8, 2015 – ERG Property Advisors is pleased announce the sale of a triple-net (NNN) leased Walgreens (NYSE: WAG) in Huntington Beach, California.

Walgreens has a 25-year Triple Net lease with renewals extending out to 60 years. The property sits on 1.3 acres located on the heavily traveled Warner Avenue which boost over 57,000 vehicles per day. Other major retailers in the immediate area include: Mcdonald’s, Ralphs, CVS, Trader Joe’s, Chase Bank, Bank of America and Wells Fargo.

Walgreen Co. (NYSE: WAG) is the largest drug retailing chain in the United States, operating more than 8,100 drugstores. In addition to its drugstores, Walgreens also operates worksite health centers, home care facilities and specialty and mail service pharmacies. Its Take Care Health Systems subsidiary is the largest and most comprehensive provider of worksite health and wellness centers and convenient care clinics, with more than 700 locations throughout the country. Founded in 1901, Walgreens employs more than 200,000 people and is headquartered in Deerfield, Illinois.
 
The property sold for $16,000,000.
 
For more information about this property, please contact Andrew Greenberg at (646) 253-0950 or agreenberg@ergpa.com.

About ERG Property Advisors

ERG Property Advisors is a full-service commercial brokerage company based in New York City. Our core activities are investment sales, mortgage brokerage and direct capital services. While focused on the broader New York City area as a company, ERG also offers specific market knowledge at the submarket level. Beyond core New York City properties, ERG’s Retail Division specialize in the disposition of commercial investment real estate property nationally with a focus on freestanding Net-Lease properties. In addition to assisting property owners and prospective buyers, ERG provides banks, appraisers, attorneys, and accountants with information and skill sets that support them in their respective roles. Through strategic alliances with select companies we are able to offer our clients access to mortgage brokerage, direct capital services and investment sales brokerage. Visit www.ergpa.com for recent deals and press coverage.



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