Marcus & Millichap Brokers Sale of Net-Leased Walgreens Location in Indiana

BLUFFTON, Ind., Nov. 11, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a net-leased Walgreens location in Bluffton, Indiana. The property sold for $2,372,727.

"In a highly volatile market for net-leased drug stores, we were able to generate multiple offers," said David Klink, senior associate. "We ultimately secured an out-of-state 1031 exchange buyer."

Jordan Klink and David Klink, investment specialists in Marcus & Millichap's Indianapolis office, had the exclusive listing to market the property on behalf of the seller, Eureka Limited Company, and procured the buyer, Valuecom22, LLC.

Walgreens is located at 1975 N. Main St. in Bluffton, just south of Fort Wayne. Built in 2003, the property occupies 1.89 acres at a signalized, hard-corner intersection. Approximately 4.5 years remain on the property's absolute triple-net lease. It is situated in Bluffton's main retail corridor, surrounded by major national retailers, including Walmart and Lowe's.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.