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.”

Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.