Limestone Asset Management Acquires Miami-Dade Walgreens Stores For $15.6M

Walgreens has recently completed the sale of two Miami-Dade stores located in Miami and Hialeah for a combined price of $15.6 million. The buyer of these properties is Limestone Asset Management, a local investor based in Miami. The sale indicates Walgreens' shift towards leasing rather than owning properties, as they have chosen to lease back the sold properties.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $15,600,000
• Address: 2702 West Flagler Street & 770 East Ninth Street
• Market: Miami & Hialeah
• Buyer: Limestone Asset Management - Ibrahim Al-Rashid
• Seller: Walgreens
• Buyer's Representative: Kevin Sanz - Orion Real Estate Group
• Seller's Representative: Brian Pfohl - CBRE
• Square Footage: 35,473 SF
• Price Per Square Foot: $440

The buyer of these properties, Limestone Asset Management, is represented by Kevin Sanz from Orion Real Estate Group. On the other hand, Walgreens is represented by Brian Pfohl from CBRE. This transaction demonstrates the involvement of key individuals and companies in the deal, highlighting the active role of these real estate professionals in facilitating the property sale.