Investment Highlights
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Rare 15-year Walgreens Leases with 5% rent increases every 5-years, providing exceedingly more cash flow than a traditional flat Walgreens Lease
- Miami-Fort Lauderdale, Destin-Miramar, and Tampa MSA locations
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Well-established locations with drive-thru: The properties benefit from a drive-through window to deliver prescription and non-prescription drugs along with many other essential retail items during the COVID-19 pandemic. The new 15-year absolute NNN lease (with increases) reflects their re-commitment to this location for the foreseeable future.
- Investment Grade Tenant - Lease is guaranteed by Walgreen Co., a subsidiary of Walgreens Boots Alliance, Inc., and rated Baa2/Stable by Moody’s
- Locations available individually or as a portfolio
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Destin, FL $8,640,000 / 5.25% CAP
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- New 15-year Absolute NNN Lease
- 5% rent increases every 5 years
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Well-established location with a 21-year operational history
- Located on Publix outparcel
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North Palm Beach, FL $8,100,000 / 5.15% CAP
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- New 15-year Absolute NNN Lease
- 5% rent increases every 5 years
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Well-established location with a 20-year operational history
- Miami-Ft. Lauderdale MSA
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Plant City, FL $5,520,000 / 5.25% CAP
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- New 15-year Absolute NNN Lease
- 5% rent increases every 5 years
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Well-established location with a 17-year operational history
- Tampa MSA location less than 20 miles from downtown
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Durango, CO $5,628,000 / 5.50% CAP
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- New 15-year Absolute NNN Lease
- 5% rent increases every 5 years
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Well-established location with a 14-year operational history
- Excellent visibility and traffic counts Hwy 550
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Albuquerque, NM $6,171,962 / 5.35% CAP
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- New 15-year Absolute NNN Lease
- 5% rent increases every 5 years
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Well-established location with an 8-year operational history
- Central location on Albuquerque's main commercial corridor
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Salem, OR $6,210,286 / 5.25% CAP
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- New 15-year Absolute NNN Lease
- 5% rent increases every 5 years
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Well-established location with a 14-year operational history
- Tampa MSA location less than 20 miles from downtown
- Excellent visibility and strong traffic counts at a signalized intersection
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Available Financing
5-Year Fixed Rate: 2.75% - 3.35%
7-Year Fixed Rate: 3.15% - 3.5%
10-Year Fixed Rate: 3.25% - 3.75%
Down Payment / LTV: 70%
Amortization: 30 Years
Contact: Farhan Kabani / MarkOne Capital
*Terms subject to changing market conditions and borrower qualifications.
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JOHN GLASS
Executive Managing Director
CA DRE License: 00980723
Office: (415) 625-2114
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JASON HERNANDEZ
First Vice President
CA DRE License: 01392646
Office: (916) 724-1300
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FL Broker of Record: Ryan Nee | CO Broker of Record: Bob Kaplan
NM Broker of Record: Matthew Reeves | OR Broker of Record: Adam Lewis
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Notice: Lease Terms, Guarantor, Operational History, MSA designation, Essential Retailer Status, and Moody’s Ratings are estimates. Buyer is responsible for verifying during the Due Diligence process.
Special COVID-19 Notice: All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.)
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