Research News on Real Estate Development Companies
Consolidated Tomoka Funds $7.4 Million Acquisition of Walgreens Retail Store in Boulder, Colorado
2012 APR 27 - (VerticalNews.com) -- Consolidated-Tomoka Land Co. (NYSE Amex: CTO) announced it funded a two-step transaction to acquire a 14,280 square-foot Walgreens store in Boulder, Colorado, in the amount of $7.4 million. The Company is acquiring this property in part through investment of proceeds from the December 2011 sale of the Barnes & Noble property in Lakeland, Florida. The completion of this transaction is anticipated to occur during second quarter 2012.
This property is leased to Walgreen Co. for an initial term of over 20 years.
John P. Albright, President and Chief Executive Officer of the Company stated, "The acquisition of...
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