CHICAGO, IL – September 21, 2018 – STREAM Capital Partners, LLC, a national net lease and sale leaseback advisory group, has arranged the sale of a Walgreens net lease sale in Orlando, Florida.
The subject Walgreens is to replace two existing stores within 1/4 mile. The 14,580 square foot building is located at 4440 Curry Ford Road in Orlando and closed at a cap rate of 5.40%.
The lease is structured as a triple net with nearly 15 years remaining on the term. Jordan Shtulman and Jonathan Wolfe of STREAM Capital Partners represented the seller on the transaction.
“We were able to source a high net worth investor that was looking to secure a long-term NNN investment in Florida for their portfolio. The buyer went under contract on the property five months before rent commenced, which shows the demand for new construction Walgreens in growth markets like Orlando,” said Shtulman.