Walgreens HQ sale-leaseback offering reflects national trend

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The Jones Lang LaSalle Capital Markets team has been hired to pursue the sale-leaseback of the six-building, 575,000-SF Walgreen Co. headquarters complex in north suburban Deerfield, part of a larger national trend toward single-tenant net-lease transactions.

According to Jones Lang LaSalle Research, single-tenant net-lease transactions are expected to top $40 billion in 2013, up from $31 million in 2012 and $25 million in 2011.

Guy Ponticiello, Managing Director of JLL’s Corporate Finance & Net Lease Group, said that a variety of facotros are at play including an expected uptick in corporate M&A activity, the move by private equity firms to monetize their portfolio companies’ strong underlying real estate assets, and a desire by corporations to put their capital to better use.

As he told GlobeSt.com in a recent interview:

“There is just not enough quality net lease product to satisfy investor demand at the moment, so the time is right for savvy corporates to take advantage of the lack of supply.”

For more details on the Walgreen Co. listing, click here to read the Chicago Tribune’s recent story on the offering.

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