Walgreen Co. has purchased the former Servco Pacific Inc. dealership in Wahiawa for $3.1 million.

The sales broker, Colliers Monroe Friedlander Inc., announced Tuesday the transaction consisting of 69,887 square feet of land on Kamehameha Highway.  

Servco Pacific opened in Wahiawa in 1930, but closed about 2 years ago after consolidating operations to its newly renovated Waipahu location. 

 “This development will be very positive for Wahiawa town,” said Ronald Ward, Colliers vice president who negotiated the deal on behalf of Servco.  “Not only will it bring new job opportunities to the area, but it will be a catalyst for additional renovation and development along Kamehameha Highway.”

Walgreens, which has 10 stores in Hawaii, has as many as nine projects in the works throughout the islands.

The Deerfield, Ill.-based drugstore chain acquired in August Safeway Inc.’s Honolulu site on Pensacola and Beretania streets for $22.5 million to open another Oahu store in 2012.