Andrew Stewart, Dev Morris, and Lisa McMahon have arranged permanent financing of $3,600,000 for a free-standing, 14,490 square foot Walgreen’s located in Kissimmee, Florida. The loan has a 10-year term amortized over 25 years and was placed with one of Cronheim’s life insurance company correspondents, for which Cronheim will act as servicing agent.

The property is located on the highly trafficked West Irlo Bronson Highway, at its intersection with North Poinciana Boulevard. This six-lane divided thoroughfare provides direct access to Interstate 4 and eventually leads to Disney World. Formerly a gas station, the newly constructed store opened in August 2009. The tenant is operating under a 75-year absolute Net lease, although the tenant is able to terminate at any time after the 25th year upon giving 12 months notice.