Marcus & Millichap announced the $11.5 million sale of a 14,490-square-foot Walgreens drugstore in Sauk Rapids, Minnesota.
The buyer was a private 1031-exchange investor, according to Brian Parmacek, a director in Marcus & Millichap’s Net Leased Properties Group.
Parmacek and Joshua Hergott, an associate in the firm’s Chicago O’Hare office, represented the buyer. Dean Giannakopoulos, associate vice president capital markets in MMCC’s Chicago Downtown office, arranged the financing. Craig Patterson, regional manager of Marcus & Millichap’s Minneapolis office, is the firm’s broker of record in Minnesota.
