Faris Lee Completes Sale of Six Walgreens Properties

Irvine, Calif. — The six Walgreens sold for an aggregate purchase price of approximately $33.3 million.

The Walgreens in Palmview, TexasIrvine, Calif.  — Irvine-based Faris Lee Investments has brokered the sale of six Walgreens properties for an aggregate purchase price of approximately $33.3 million. An East Coast-based private buyer acquired five of the assets for $26.5 million in cash. The five properties are located in Tennessee, Virginia, South Carolina and Oklahoma. Matt Mousavi and Patrick Luther of Faris Lee Investments represented both the buyer and the seller, a Denver-based private investor, in the off-market transaction.

LDW Palmview LLC acquired the sixth Walgreens property, located in Palmview, Texas, for approximately $6.8 million. The seller was Dallas-based McClure Partners. Mousavi represented the buyer and the seller in the transaction.

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