Morgan Property Group, LLC is pleased to announce the sale of a freestanding Walgreens drugstore located at 2879 Montana Avenue in El Paso, Texas.
On July 8, 2016, Beutler Exchange Group, LLC as Q.I. for Teresa Beldsoe, Trustee, sold 0.82 acres to 2879 Montana Ave. Wags, LLC, Avos I, LLC, and El Paso Trust Wags, LLC as tenants in common for $4,500,000. General Realty Partners, LLC, a brokerage arm of MPG, represented the Buyer, and Blake Federinko of Coldwell Banker Commercial represented the Seller. Financing was provided by Alan Gross of Gross Mortgage Finance, Inc. through Rialto Mortgage Finance, LLC.
Walgreen Co. currently leases a 17,950 square foot retail facility located on the property. The building contains a finished partial basement, and a single lane drive-thru. MPG recently assisted in an extension of the Walgreen lease. The store was originally constructed in 1999.
Walgreens (www.walgreens.com), one of the nation’s largest drugstore chains, is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc. (NASDAQ: WBA), the first global pharmacy-led, health and wellbeing enterprise. More than 8 million customers interact with Walgreens each day in communities across America. Walgreens operates 8,173 drugstores with a presence in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. More than 400 Walgreens stores offer Healthcare Clinic or other provider retail clinic services.
For over thirty-nine years, Morgan Property Group has been in the commercial real estate development and brokerage business. MPG focuses on neighborhood shopping centers, multi-tenant buildings, and single-tenant projects anchored by a variety of national and regional retailers. The company and its affiliates are developing multiple retail, mixed use, and urgent care medical projects throughout the Mid-Atlantic and Southeast. To find out more, follow Morgan Property Group on Facebook and Twitter @MPG_Development or visit our website at www.morganpg.com.