Walgreens Sells in Miami Beach for $30 Million

Miami Beach, Fla. — The purchase price marks the second highest amount paid for a drugstore this year in the country.

Miami Beach, Fla.  — Marcus & Millichap has brokered the $30 million sale of a 22,857-square-foot Walgreens drugstore in Miami Beach. The purchase price equates to $1,312 per square foot and is the second highest amount paid for a drugstore in the nation this year, according to Marcus & Millichap. The two-story Walgreens has a 60-year triple-net lease that began in July 2008. Sean Shahar Ziv with Marcus & Millichap’s San Diego office represented the seller, Trans World Entertainment Corp. He also procured the buyer, an institutional investor, in the all-cash transaction.