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$7.2m Walgreens Lake Stevens Sale November 1, 2010

Posted by Sean Tufts in Retail News, Retail Sales Comps, Sale.

The second brand new Walgreens in the Puget Sound area was purchased just over a week ago.  The new Lake Stevens building had been on the market with an asking CAP rate of 7.3%.  The recorded sales price calculates to a 7.6% CAP.  This is nearly the same as the CAP rate as the other Walgreens sale in Renton earlier this year that sold at a 7.65% CAP.  It also matches the $485/sf of the Renton sale exactly.   Bank of America provided the financing to the Virgina based company that purchased the deal.



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