A downtown Greenwich retail and office building, formerly a prominent drugstore, has sold for $7 million.

The approximately 8,300-square-foot property at 301 Greenwich Ave. was sold by longtime owner Joel Adelman to Greenwich-based Charter Realty & Development Corp., which owns or operates more than 80 shopping centers in the U.S., including several in Connecticut. In addition to the Starbucks café, the fully leased edifice houses The Tobacconist of Greenwich shop on its ground floor and second- and third-floor offices for tenants, including financial services and legal firms.

The acquisition reflects Charter’s strategy of purchasing street-retail buildings that also have other uses, Charter Principal Paul Brandes said. The firm’s recent projects include co-developing the Bedford Square mixed-use center in downtown Westport.

Charter plans to preserve 301 Greenwich’s exterior architectural features, while upgrading its interior common areas.

The building stands on the town’s main retail corridor and yards from the Greenwich school district’s main offices and the town’s police and fire headquarters. It received several offers from local and out-of-area investors, according to Steve Westerberg, first vice president of the Stamford commercial real estate firm Marcus & Millichap, which handled the transaction.