Business Briefs: Walgreen stores fetch $7 million

Business Briefs: Walgreen stores fetch $7 million

January 25th, 2014 by Associated Press and Staff Report in Business Around the Region

Walgreen stores fetch $7 million

A California investment company has purchased the sites of two local Walgreen pharmacies for nearly $7 million.

Realty Income Properties, LLC, a publicly-traded real estate firm which owns 3,800 properties in 49 state, bought the storefront at 5478 Highway 153 in Hixson for $3.78 million and bought the store at 4542 Highway 58 for $3.18 million. The new property owners will continue to lease the properties to Walgreens and store officials said retail operations will not be affected by the sale.

The properties were previously owned by Rivermont Golf and Country Club, Inc., a Chattanooga company with Byron Mitts as its vice president. Mitts signed over the two pieces of land earlier this month.

Gmail service disrupted briefly

Google's Gmail and other web tools were out of service briefly Friday for many users, but the world's biggest search provider said normal service was quickly restored. Google said it is investigating issues with Gmail, calendar, documents and other Web tools and apologized for the problems Friday

"Please rest assured that system reliability is a top priority at Google, and we are making continuous improvements to make our systems better," the Mountain View, Calif.-based company said in a statement.

The Google disruption came a month after rival Yahoo! Inc. had problems with its e-mail service that eventually led Chief Executive Officer Marissa Mayer to apologize to users.