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Walgreens Pharmacy

Walgreens Pharmacy

Type

Retail

Location

Paterson, NJ

Est. Project Cost

$7.2 million

Size

14,820 SF

Public Financing

New Markets Tax Credit

Sponsor

ARC Properties, Inc.

Private Financing

Debt

Pharmacy Ground Up Development

This $7.2 million project involved the ground-up development of a 14,820 square foot Walgreens Pharmacy in Paterson, NJ. The investment created long-term retail presence under a 25-year lease and supported local access to pharmacy services. Monge Capital helped structure NMTC financing that reduced equity needs for the local developer.

Estimated Economic and Social Impact

Over 30 jobs and 120 construction jobs.

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