Worcester Walgreens property sells for $8.8M

The property containing a Walgreens on Lincoln Street in Worcester sold in early December for $8.8 million, according to the Worcester South District Registry of Deeds. 

The 14,000-square-foot building has been leased as a Walgreens since 2001. 

It was sold to Exchange Right, a California-based business which specializes in 1031 exchanges, which is a tax-deferred property transfer.

An entity registered to David Insoft of Wayland has owned the property since 2014, when he bought it for $9.4 million, according to the Worcester assessors’ data. The property is assessed by the City of Worcester at about $2.8 million.

A property containing a Walgreens in Dudley similarly sold for $8.3 million in June.