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Commercial Real Estate
Business Observer Thursday, Mar. 18, 2010 12 years ago

Walgreen Co. buys Lutz building for drug store

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Deerfield, Ill.-based drug store chain Walgreen Co. purchased a 4,022-square-foot retail building on 0.96 acres, and an additional 2.83 acres at the corner of Sunset Lane and U.S. 41 for $1.85 million.

Walgreen Co. buys Lutz building for drug store


BUYER: Walgreen Co. (principals: Greg Wasson, Wade Miquelon, Margarita Kellen, George Riedl, Dana Green and John Spina), Deerfield, Ill.


SELLER: BDG LLC


PROPERTY: 18511 N. U.S. 41, Lutz


PRICE: $1.85 million


PREVIOUS PRICE: $1.05 million, February 2004


LAW FIRM ON DEED: Forlizzzo Law Group PA, Safety Harbor


PLANS, DESCRIPTION: Deerfield, Ill.-based drug store chain Walgreen Co. purchased a 4,022-square-foot retail building on 0.96 acres, and an additional 2.83 acres at the corner of Sunset Lane and U.S. 41 for $1.85 million. The purchase price equated to $488,127 per acre for the total property.


Walgreen Co. plans to develop a 15,150-square-foot store on the site. The project is scheduled for completion in 2011.


The real estate slowdown hasn't dampened Walgreen's buying along the Gulf Coast. Since mid-2009, the company has purchased land or retail buildings for new stores in North Port, Land O'Lakes, Hudson and Naples.

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