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Views: 48 DOM: 52 Updated: 07.26.24 Posted: 07.26.24 Status: Active

Summary

Price $4,988,618
Built/Renov 1991
Tenant Walgreens
Cap Rate 6.15%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 15,340
Lease Start 11-21-2023
#Units 13,532
Price/SF $325.20
Expiration 11-30-2038
Tenant Type Pharmacy
NOI $306,800
R. Term 14.2
Ownership Fee Simple
Rent/SF $20.00
Increases 5.0%/5/yrs
Pop 5Mi 157,699
Lot/AC 0.89
Options 12/5yrs/5%
AHHI 5Mi $115,895

Lease Highlights

  • Walgreens has 14+ years remaining on the current lease term with 12 (5-year) options to extend
  • The lease features 5% rental escalations 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 W Bluemound Road and Pilgrim Parkway, with access to a substantial combined daily traffic count of 86,300 vehicles. The property is directly across the street from Brookfield Square Mall, which houses 65 stores and sees 4.1 million annual visits. Additionally, it is conveniently situated at the I-94 and Moorland...

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Maps

  • 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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Listing Broker

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