{"id":1004111366,"date":"2015-01-15T19:47:20","date_gmt":"2015-01-16T03:47:20","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=318505"},"modified":"2022-12-07T20:32:56","modified_gmt":"2022-12-08T04:32:56","slug":"walgreens-on-the-strip-hits-the-market","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/walgreens-on-the-strip-hits-the-market\/","title":{"rendered":"Walgreens on the Strip Hits the Market"},"content":{"rendered":"<p class=\"MsoNormal\"><em>By Alex Girda, Associate Editor<\/em><\/p>\n<p>&nbsp;<\/p>\n<p>A Walgreens at a prime Las Vegas Strip location is on the market. Marcus &amp; Millichap Real Estate Investment Services Inc. announced this week that it is marketing the property on behalf of a joint venture that includes Harbor Group International. Although the price is currently set as open bid, the net-leased property is expected to command a price in the $40 million-range, industry specialists estimate.<\/p>\n<p>Located on a 1.6-acre parcel at the intersection of S. Las Vegas Boulevard and Convention Center Drive, the Walgreens is also across the street from the site of Resorts World Las Vegas, a megaresort project currently under development. The Las Vegas Convention Center is located less than a mile away at the other end of Convention Center Drive; the facility contributes greatly to the $7.4 billion in economic activity generated by the city\u2019s meeting and convention business. The store operates 24 hours a day, sells food, features a W Caf\u00e9 that offers bistro-style foods, coffee and beverages, and holds a full liquor license. It also offers 86 spaces of off-street parking.<\/p>\n<p>The Marcus &amp; Millichap team representing the ownership of the Walgreens includes Ray Germain, an associate director of the company\u2019s National Retail Group in Las Vegas; first vice president investments in the firm\u2019s Encino office, Lior Regenstreif, Dean Zang, first vice president investments in Washington, D.C., and Mark Taylor, first vice president investments in Philadelphia.<\/p>\n<p>&nbsp;<\/p>\n<p class=\"MsoNormal\">\n","protected":false},"excerpt":{"rendered":"<p>Marcus &amp; Millichap recently announced that it has begun marketing for a Walgreens drugstore located on the famous Las Vegas Strip. The commercial real estate investment services firm has the exclusive right to offer the net-leased property up for sale. Although the price is currently set as open bid, the asset is set to fetch a purchase fee around the $40 million mark, industry specialists estimated. The selling entity is a joint venture that includes Harbor Group International<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1593,21742],"tags":[],"class_list":["post-1004111366","post","type-post","status-publish","format-standard","hentry","category-las-vegas","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Walgreens on the Strip Hits the Market - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/walgreens-on-the-strip-hits-the-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Walgreens on the Strip Hits the Market\" \/>\n<meta property=\"og:description\" content=\"Marcus &amp; Millichap recently announced that it has begun marketing for a Walgreens drugstore located on the famous Las Vegas Strip. The commercial real estate investment services firm has the exclusive right to offer the net-leased property up for sale. Although the price is currently set as open bid, the asset is set to fetch a purchase fee around the $40 million mark, industry specialists estimated. The selling entity is a joint venture that includes Harbor Group International\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/walgreens-on-the-strip-hits-the-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-01-16T03:47:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T04:32:56+00:00\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/walgreens-on-the-strip-hits-the-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/walgreens-on-the-strip-hits-the-market\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"Walgreens on the Strip Hits the Market\",\"datePublished\":\"2015-01-16T03:47:20+00:00\",\"dateModified\":\"2022-12-08T04:32:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/walgreens-on-the-strip-hits-the-market\\\/\"},\"wordCount\":246,\"commentCount\":0,\"articleSection\":[\"Las Vegas\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/walgreens-on-the-strip-hits-the-market\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/walgreens-on-the-strip-hits-the-market\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/walgreens-on-the-strip-hits-the-market\\\/\",\"name\":\"Walgreens on the Strip Hits the Market - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"datePublished\":\"2015-01-16T03:47:20+00:00\",\"dateModified\":\"2022-12-08T04:32:56+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/walgreens-on-the-strip-hits-the-market\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/walgreens-on-the-strip-hits-the-market\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/walgreens-on-the-strip-hits-the-market\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Walgreens on the Strip Hits the Market\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\",\"name\":\"Anca Gagiuc\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"caption\":\"Anca Gagiuc\"},\"description\":\"Anca Gagiuc brings more than a decade of experience within the real estate industry. 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