Walgreens property hits market at $79m in Miami Beach

A 19,000-square-foot trophy Walgreens on the ground floor of the Ritz-Carlton Hotel in Miami Beach, Fla., is up for sale at the listing price of $78.8 million. Marcus & Millichap announced the listing. Simon Jonna and Raymond Jonna are representing the seller, a private Miami-based developer. The property is situated at the intersection of Lincoln Road and Collins Avenue at One Lincoln Road, adjacent to the Lincoln Road Mall, an outdoor shopping, dining and entertainment destination in South Florida. Nearby high-end luxury hotels include Lowes Miami Beach, Delano South Beach, SLS South Beach and Hy