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Charleston agency facilitates $6.1 million sale of 4 drugstores

Staff //February 14, 2022//

Charleston agency facilitates $6.1 million sale of 4 drugstores

Staff //February 14, 2022//

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Two NAI Charleston brokers facilitated the $6.06 million sale of a net lease portfolio that includes four Walgreens locations around South Carolina.

The 100% occupied investment properties are located in Beaufort, Bamberg, Chapin and Willston. Each store has a long-term operating history, and the new owner can expect a steady stream of income with the purchases, NAI said in a news release.

Jack Owens and Will Sherrod of NAI Charleston represented the seller, C3 Investments Inc.

“It was gratifying to negotiate the sale of these properties at full asking price in traditionally small South Carolina towns,” Owens said in a statement. “This is an indicator of economic growth in all markets, not only large and familiar ones.”

Covestre Capital LLC, a Delaware limited liability company, purchased the Walgreens portfolio. The company was represented by Eric Wasserman of Acropolis Commercial Advisors LLC.

“The rural markets in the Carolinas and Georgia continue to perform well, and this portfolio sale, at asking price, shows the investment interest from groups outside of the southeast,” Sherrod said in a statement.

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