Franklin Walgreens sold for $5.6 million

South Milwaukee Walgreens also being marketed

shutterstock_219853627The Walgreens Pharmacy at the northeast corner of Ryan Road and 27th Street has been sold for $5.6 million to a Madison-based LLC.

Stkali Holdings LLC purchased the 13,743 square foot store at 9527 S. 27th St. from Waukesha-based MRED Associates, according to state real estate records.

The property was listed, along with 45 other Walgreens stores nationwide by Aspen, Co.-based Andrus & Morgan, a national commercial and investment real estate company specializing in passive income investments, property redevelopment and building reuse.

The company has also listed the Walgreens at 2985 S. Chicago Ave. in South Milwaukee. The 13,905 square foot building is listed for $2.3 million. The South Milwaukee Walgreens has been on the market for 1,088 days. The Franklin property sold in 39 days.

According to the Andrus & Morgan website, the company is selling Walgreens with proven records as “profitable performers,” to investors in light of the April 2015 announcement by the drugstore chain that Walgreens is expecting to close 200 stores as part of a plan to cut $1.5 billion over three years.

Walgreens has not said which stores it plans to close.

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