Property details

Property Investment, Northeast Region

Property Description

Property Investment

•  Freestanding Walgreens property investment
•  Twenty-five year lease investment with 50 years of options
•  Absolute NNN property

Perfect investment property for a buyer seeking a investment grade property to invest into.

Property lease dates shown are estimates. Actual dates for this investment are subject to verification.

Who buys Property Investment?
Property Investment into a property over other investment vehicles like securities have special tax protections that allow a property owner to defer gains realized from the sale of their property.

Properties related to Property Investment

» Investment Asset » Investment Property
» Industrial Property » Medical Property

About the Tenant

Founded in 1901, Walgreens (NYSE: WAG) (S&P A+/Moody's Aa3) is the largest drug store Company in the United States ranked by sales. The Company operates in the retail sales of prescription and nonprescription drugs and general merchandise through its national drugstore chain. In addition, the Company provides pharmacy benefits management, mail service prescriptions, and other clinical services. Customer prescription purchases can also be made through the mail, by telephone, and on the internet.

As of May 31, 2007, Walgreens operated 5,751 stores (including three mail service, 44 home care and six specialty facilities) located in 48 states and Puerto Rico. The total store count does not include the 51 convenient care clinics operated by Take Care Health Systems, Inc.

As of May 31, 2007, Walgreens had a net worth in excess of $10.9 billion.

Images

Request property package

Highlights

Status:
Available
Price:
$6,142,000
PSF:
$503
Cap Rate:
6.25%
Annual Rent:
$390,000
Rent Increases:
Percentage rent
 

Property Information

Building Size:
12,220 sq.ft.
Property Type:
Net Lease
Industry Type:
Drug - Pharmacy
Units/Spaces:
1
Land Area:
1.26 acres
Purchase Tenure:
Fee Simple
 

Lease information

Tenant:
Walgreens
Lease Type:
NNN
Lease Commencement:
10/1/2007
Lease Expiration:
9/30/2032
Lease Term:
25 years
Years Remaining:
22 years
Landlord Responsibilities:
None
Options:
50 Years
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.