Closed
Acquisition of a Net Leased Walgreens in Somerville, MA
Acquisition of a single tenant net lease Walgreens in Somerville, MA, halfway between Harvard and MIT.
Transaction Overview
At a glance: illi Commercial Real Estate closed the $4,000,000 acquisition of a single-tenant, net leased Walgreens in Somerville, Massachusetts, financed with a conventional bank loan.
The property sits in one of Greater Boston’s most established urban neighborhoods, roughly halfway between Harvard University and the Massachusetts Institute of Technology (MIT) — a dense, walkable trade area with steady daily foot traffic for a neighborhood pharmacy.
With a national pharmacy tenant operating under a net lease, the asset offered the stable, predictable income profile lenders look for — positioning the buyer to secure conventional bank debt for the purchase. Learn more about our commercial real estate investment services.
Deal Highlights
- National TenantWalgreens, one of the largest pharmacy chains in the U.S.
- Net Lease StructureTenant-borne expenses support a passive, predictable income stream.
- Infill LocationDense Somerville trade area between Harvard and MIT.
- Bank FinancingAcquisition capitalized with a conventional bank loan.
Frequently Asked Questions
Where is this Walgreens located?
The property is in Somerville, Massachusetts, roughly halfway between Harvard University and MIT in the Greater Boston area.
What type of transaction was this?
This was a $4,000,000 acquisition of a single-tenant net lease retail property occupied by Walgreens, financed with a conventional bank loan.
What is a single-tenant net lease (STNL) property?
A single-tenant net lease property is leased to one tenant who pays some or all of the property’s operating expenses, such as taxes, insurance, and maintenance, in addition to rent. This structure gives owners a more passive and predictable income stream.
Why do lenders favor net leased properties with national tenants?
A national tenant like Walgreens and a net lease structure reduce the owner’s expense exposure and support consistent cash flow, which helps buyers qualify for conventional bank financing.
Can illi help finance or refinance my commercial property?
Yes. illi Commercial Real Estate helps owners and investors source and structure financing for acquisitions, refinances, and recapitalizations. Contact our team to discuss your property.
Financing, refinancing, or recapitalizing a property?
illi Commercial Real Estate sources and structures debt and equity for commercial property owners and investors.
