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Dallas-based REIT pays $5.9M for Irondequoit property
Dallas-based REIT pays $5.9M for Irondequoit property
A Texas-based Real Estate Investment Trust that focuses on stand-alone, single-tenant properties has paid $5.9 million for the home of Walgreens on East Ridge Road in Irondequoit.
NS Retail Holdings, LLC, a subsidiary of Netstreit, completed the purchase from SCI Georgia Funeral Services, LCC, of Houston on Friday, according to the deed filed with the Monroe County Clerk’s office.
The store, one of three Walgreens in Irondequoit, is at 21oo East Ridge Rd., occupying the northeast corner lot at East Ridge and Culver roads.
Headquartered in Dallas, Netstreit has a portfolio of 427 properties across 43 states, including 63 Dollar General stores, 40 Advance Auto Parts stores, 32 CVS locations and 22 Walgreens. The REIT looks for single-tenant, net-lease properties already leased to high-credit tenants.
Walgreens is entered into a triple-net lease on the 14,642-square-foot property, according to the listing on LoopNet.
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