Hanley Arranges Sale of Single-Tenant Walgreens in San Diego County

The 14,380-square-foot property in in Oceanside, Calif., traded for $7.4 million, marking only the second Walgreens in the county to change hands in the last 12 months.
Hanley Investment Group Real Estate Advisors has arranged the sale of a single-tenant absolute net-lease Walgreens in north San Diego County. The $7.4 million sale price represented a cap rate of 5 percent, and there are more than 15 years remaining on its primary lease with 10 five-year renewal option periods. Hanley Executive Vice President Kevin Fryman and President Ed Hanley represented the seller, a Beverly Hills, Calif.,-based private investor. Jason Flashman of Flashman Investment Group and Peak Commercial worked on behalf of the buyer, a private investor from Northridge, Calif. This is only the second Walgreens that has changed hands in San Diego County in the last 12 months, according to Hanley…

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