One of IC’s long-time German clients purchased a Walgreens in east El Paso off I-10 in a rapidly developing retail corridor along Eastlake Blvd. The pharmacy has limited competition in the immediate surrounding areas.

The newly constructed store features the modern architecture of Walgreens latest store footprint. The lease for the approx. 1.39-acre site improved with an approx. 9,955 SF drug store and pharmacy started in February of 2024 and has an initial term of 15 years (plus seven 5-year options).

This was the 6th all-cash property acquisition for the client’s medical/retail centric US real estate portfolio.

Martina Crevecoeur, CCIM, International Capital’s Senior Vice President of Acquisitions/Dispositions represented the buyer in the transaction.