Net lease portfolio of four Walgreens sold in South Carolina
February 8, 2022
Jack Owens, CCIM and Will Sherrod, CCIM, of NAI Charleston, facilitated the sale of a net lease portfolio, which included Walgreens Pharmacies located in Beaufort, Bamberg, Chapin, and Williston, SC.
Each of the four 100% occupied investment properties located in South Carolina has a long-term operating history and will provide a steady income stream for the owner.
Jack Owens, CCIM and Will Sherrod, CCIM, both veteran brokers at NAI Charleston, represented the seller, C3 Investments, Inc. Covestre Capital, LLC, a Delaware limited liability company, purchased the Walgreens Portfolio for $6,060,000, and was represented by Eric Wasserman with Acropolis Commercial Advisors, LLC.
“It was gratifying to negotiate the sale of these properties at full asking price in traditionally small South Carolina towns,” said Owens. “This is an indicator of economic growth in all markets, not only large and familiar ones.”
Sherrod also commented on the importance of small town closings at full price. “The rural markets in the Carolinas and Georgia continue to perform well, and this portfolio sale, at asking price, shows the investment interest from groups outside of the southeast,” said Sherrod.
For more information, contact Jack Owens, CCIM at +1 (843) 696 7653 // Will Sherrod, CCIM at +1 (843) 364 3796.
About NAI Charleston
NAI Charleston is a full-service commercial real estate firm consisting of industry experts that share over a century of combined experience in the Charleston commercial real estate industry, and over $1 billion in total transaction volume. In 2017, local brokers Thomas Boulware, Dexter Rumsey, David Ingle and David Grubbs partnered to found NAI Charleston as an independent franchise of NAI Global. This partnership has strengthened the team’s leadership and footprint in the Lowcountry. As an owner-operated firm, NAI Charleston possesses a highly personal and unparalleled focus on their clients’ needs. Local ownership and leadership paired with global resources affords NAI Charleston the unique opportunity to provide the best of both worlds to their clients: Lowcountry roots with a global reach. As a member of NAI Global, NAI Charleston has independent access to the largest, most powerful network of owner-operated commercial real estate firms in the world. Their affiliates comprise 6,000 professionals in 375 offices and 36 countries. Their brokerage, development, management, and consulting services are tailor-made to meet the specific needs of each assignment – from single transactions to coordinating the delivery of multiple services over broad geographic areas.
