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Boca Raton, Fla. – The purchase is part of the company’s strategy to invest in single-tenant, long-term net-leased assets that are occupied by credit tenants.
Boca Raton, Fla. – The Herrick Company Inc. has closed on the acquisition of 29 pharmacy/retail properties located throughout the U.S. The properties, all of which are occupied under long-term triple net leases with Walgreens, were purchased for approximately $100 million. The Walgreens leases in the recently acquired portfolio each have 25 years remaining on the term. Earlier this year, The Herrick Co. acquired a portfolio of 63 pharmacy/retail properties, each occupied under long-term triple net leases with CVS Caremark.
— Scott Reid