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MichiganRetail

Encore sells Walgreens in Lansing

July 17, 2018
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Encore Real Estate Investment Services recently closed the sale of a Walgreens in Lansing, Michigan. The store is located at 6421 W. Saginaw Highway.

The property is a freestanding Walgreens that has more than 12 years remanining on the lease at the time of sale. The property sold at $6.25 million. This represents a 6.1 percent cap rate and $429.29 a square foot.

Brandon Hanna, Deno Bistolarides and Ryan Vinco of Encore represented the seller. The buyer completed a 1031 exchange, and was sourced through Encore’s network of buyers and brokers.

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