The Background

This Walgreens net lease sale in Westerly, Rhode Island closed at $2,700,000 with Silber on both sides of the table. Nick Anzalone sourced the seller and the buyer, which is a regular occurrence for us in single-tenant pharmacy, and it gave us direct control over the pace of the transaction once it went under contract.

The Problem We Had to Solve

The deal was already in contract when Walgreens announced a wave of store closures nationally. This location was not among them. That distinction rarely matters in the moment. A headline like that can rattle a buyer on a single-tenant pharmacy asset overnight, and the two usual outcomes are a request to re-trade the price or a buyer who quietly goes cold and lets the deal drift past its deadlines.

What We Did

We took the buyer back to the fundamentals of this specific store rather than the fundamentals of the chain. The buyer needed to know where this location sat inside the tenant’s own network, why it was not on the closure list, and what the lease obligated Walgreens to do regardless of anything happening elsewhere in the country. Representing both sides meant we could answer those questions the same day instead of routing them through a second broker and waiting. It also meant we could tell the seller precisely where the buyer’s head was, so nobody on the sell side started negotiating against a problem that did not exist.

How It Closed

The buyer stayed motivated and the sale closed within 45 days of the purchase and sale agreement being signed. No price reduction and no extension of the timeline.

The Silber Difference

Bad news about a tenant almost always shows up while you are in contract, not before you sign. What decides the outcome is whether someone in the middle can separate a national headline from the asset in front of them and get a buyer that information fast enough to matter. Being on both sides let us do that in hours instead of days. Closing in 45 days through a national closure announcement is what execution looks like when the flow of information is not broken.