The Boulder Group has completed the sale of a single-tenant net-lease Walgreens property at 1180 Arcade Street in St. Paul, Minnesota, for $6.5 million.
The Walgreens property is positioned on the southeast corner of Maryland Avenue E and State Route 61 (Arcade Street) in a densely populated residential area of St. Paul. This intersection experiences traffic counts in excess of 30,800 vehicles a day.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a Northeast-based real estate investor. The purchaser was a California-based investor.
Walgreens has more than 16 years remaining on the lease, which expires in December of 2033.