New Orleans real estate developer Gordon Kolb has sold the Walgreen’s drug store at 11297 Florida Blvd. to a group of New Jersey real estate investors for $3.8 million.
The deal includes Walgreen’s 50-year lease on the property, which does not expire until 2043, and a spokeswoman at Kolb’s office says the store will remain in operation.
Kolb has owned the property since Walgreen’s developed the store on the site, which is at the intersection of North Sherwood Forest Boulevard, in the early 1990s. The buyers are listed as CIE Louisiana, a limited liability company owned by Caroline Ursillo and Thomas Lodato.
—Stephanie Riegel
