DEPEW, N.Y. (WBEN).........A busy Walgreens located in the heart of the Village of Depew has a new landlord.
Investors 4815 Broadway LLC paid $1.425 million for the nearly 14,000-square-foot Walgreens ay 4815 Broadway, buy it another retail-based investment group Depew NY Real Estate LLC.
Walgreens is remaining at the site under the terms of a long term lease.
Built in 1996, Depew NY Real Estate paid $2 million for the property in 2021, meaning the value of the site dropped nearly 29% in the past five years.
The deeply discounted sale price serves as a local snapshot of retail-anchored commercial real estate is still considered soft.
Walgreebs remains open...but with a new landlord
Walgreebs remains open...but with a new landlord
