MichiganRetail Encore sells Walgreens in Lansing July 17, 2018 Share on Facebook Share on Twitter Share on LinkedIn Share via email 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.