Limestone Acquires Two Miami Walgreens Buildings for $15.6M

Miami-based Limestone Asset Management and Orion Real Estate Group purchased and closed on two Walgreens buildings located at 2700 W. Flagler Street, Miami, FL and 780 E. 9th Street, Hialeah, FL for $15.615 million on Aug. 23, 2023. Led by Ibrahim Al-Rashid, Limestone Asset Management invests in and acquires real estate properties over all asset classes throughout North America.

Kevin Sanz of Orion Real Estate Group led the buyer group, Limestone Wells. Brian Pfohl of CBRE represented the seller, Walgreens Co. The off-market transaction was an all-cash purchase.

The 17,909-square-foot Miami property and 14,490-square-foot Hialeah property are both fully leased to Walgreens.

“We are pleased to acquire these two properties, continuing our expansion of South Florida assets,” said Ibrahim Al-Rashid, chairman of Limestone Asset Management. “We strongly believe in the South Florida market, and these are two irreplaceable sites that we see long-term value in.”