Walgreens Building in Clinton Township Sells for $5.4 Million

A New York City-based company has made a $5.4 million investment in Clinton Township, according to CoStar Group, a commercial real estate information company.

While the exact date of the transaction is unknown, AR Capital, a New York City-based investment firm, is reported to have recently purchased the Walgreens building at 34899 Groesbeck for roughly $359 per square foot, CoStar Group reports.

The 15,189-square-foot building was previously owned by R Michigan Properties LLC, according to CoStar Group. It was built in 2002 and is currently home to Walgreens.

AR Capital's plans for the property are unknown.