Stan Johnson Company has completed the sale of a single-tenant, 13,905-square-foot drugstore leased to Walgreens in Brookfield, Wisconsin.
The property is located at 15650 W. Greenfield Ave. in Brookfield. Mark Lovering and BJ Feller of Stan Johnson Company exclusively represented the seller, a developer from Waukesha, Wisconsin. The Chicago, Illinois-based buyer purchased the asset for about $6 million. The cap rate was undisclosed.
Located just 11 miles from downtown Milwaukee, the asset is strategically located in a high-traffic corridor along with many other national retailers including Starbucks, Panera Bread and a newly constructed Walmart Supercenter.
Walgreens has occupied this location for more than 20 years and recently extended its commitment for another eight. The freestanding retail pharmacy operates on a double net lease, sits on 2.42 acres and includes a drive-thru.