BOSTON-– Fantini & Gorga recently announced the debt placement of $2,100,000 for the acquisition of a Walgreens Pharmacy located in Schenectady, NY.
Casimir Groblewski, Senior Managing Director, assisted by Analyst Ryan Maddaluna, placed the financing on behalf of a long-time client whose investments focus primarily on NNN-leased properties in the Northeast.
The subject property is located at the corner of Eastern Avenue and McLellan Street, near Ellis Hospital and Medical Center, Schenectady High School, Price Chopper, and Walmart. The combined traffic count at this hard corner location totals over 20,000 vehicles per day. This Walgreens enjoys a significant annual sales volume and is well established, having been at this location since 1997.
Mr. Groblewski stated, “I have worked with my client for over a decade and am pleased Fantini & Gorga’s extensive relationship with regional lenders helped bring competitive quotes to the table.” He added, “We were able to obtain long-term, non-recourse financing with under 5 years remaining on the current lease term.” The acquisition of this property is a great addition to my client’s portfolio.”