A 14,490-square-foot Walgreens drugstore in Sauk Rapids, Minnesota was recently sold for $11.5 million to a private 1031-exchange investor.
Marcus & Millichap’s Brian Parmacek and Joshua Hergott represented the buyer. Dean Giannakopoulos, associate vice president capital markets in MMCC’s Chicago Downtown office, arranged $5.3 million in acquisition financing. Craig Patterson, regional manager of Marcus & Millichap’s Minneapolis office, is the firm’s broker of record in Minnesota.
