Matthews™ Brokers $8.33M Disposition of South Carolina Walgreens

Mount Pleasant, SC – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of a Walgreens property, located at 2903 N US-17 Hwy, Mount Pleasant, SC. The deal was completed off-market and closed at $8,326,000.

 

Matthews™ represented both the seller and buyer in the transaction. The seller was motivated to sell the property to capitalize on the market’s heightened demand for long-term net lease drugstore assets.

 

Retail assets have fared well throughout the global pandemic, encouraging established and new investors to allocate capital into the space. This was especially true for business that were deemed essential, such as drugstores. For example, Walgreens recently reported a projected 7.6 percent sales increase for Q1 ’22.

 

“Drugstores have surged in demand and have continued to expand their in-store offerings, including groceries, to stay competitive in a post COVID-19 world,” a Matthews™ representative said. “They’ve been reporting strong numbers and performing well which has incentivized buyers to invest nationwide.”

 

The buyer and seller received a seamless and successful closing process. For more information on this sale, please visit www.matthews.com. This deal was sold in conjunction with Broker of Record, Kyle Matthews, Lic Number 22684 (SC).

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 13 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.