Walgreens

2363 South Lindsay Road, Gilbert, AZ 85295

$5,879,814

Cap Rate 5.90%

Views: 117 DOM: 213 Updated: 10.21.24 Posted: 04.16.24 Status: Active

Summary

Price $5,879,814	Built/Renov 2001	Tenant Walgreens
Cap Rate 5.90%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 15,070	Lease Start 11-21-2023	#Units 13,532
Price/SF $390.17	Expiration 11-30-2038	Tenant Type Pharmacy
NOI $346,909	R. Term 14.0	Ownership Fee Simple
Rent/SF $23.02	Increases 5.0%/5/yrs	Pop 5Mi 337,398
Lot/AC 2.06	Options 12/5yrs/5%	AHHI 5Mi $138,048

Lease Highlights

Walgreens has 14+ years remaining on the current lease term with 12 (5-year) options to extend
The lease features 5% rental increases every 5 years throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of S. Lindsay Rd and E. Williams Field Rd, with access to a significant combined daily traffic count of 81,779 vehicles. Serving as an outparcel to the Lindsay Square Shopping Center, which features Fitness 1440, Phoenix Learning Centers, Jabz Boxing, and other establishments, the property enjoys a prime location...

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Key Features

Signalized intersection
Hard corner intersection
High traffic 50M+ VPD
Strategically located
Top 100 MSA
Strong demographics
Absolute NNN
Long 10+ yr lease
Traded and rated company
Investment grade tenant

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Links

Walgreens Wikipedia Walgreens Wikipedia Gilbert, Arizona Zip Code 85295 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Walgreens
Guarantor:Corp T and Rated
Company:Walgreens Boots Alliance
# Units:13,532
Tenant S&P: BBB-
Moody’s: Baa2
Stock: NASDAQ: WBA

About Tenant

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	11,933	118,355	344,598
2023 Total Population :	11,228	114,249	337,398
2023 Employed Civilian Pop :	5,680	61,351	177,287
2023 Total Businesses :	439	3,076	8,036
2023 Average Household Income :	$ 188,304	$ 143,493	$ 138,048
2023 Total Consumer Spending :	$ 527 M	$ 4862 M	$ 13662 M
2023 Median Age :	35	35	34
2023 Total Households :	3,328	39,786	115,357
2023 Pop Age 25+: Bachelor's Degree :	2,622	23,490	64,777
2023 Average Home Value :	$ 556,570	$ 469,083	$ 477,529

*ESRI data is presented for informational purposes only

Listing Broker

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
15422 Views
60 Sold

Chris Bosworth

CBRE: NLPG Atlanta

Contact

132 Listings
15249 Views
62 Sold

Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Thomas Carr

CBRE: NLPG Atlanta

Contact

134 Listings
15403 Views
63 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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