Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, drive-thru equipped, Walgreens investment property located in Southington, Connecticut. The tenant, Walgreen Co. (S&P: BBB), has over 6 years remaining on their current lease term with 10 (5-year) options to extend. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Headquarted in Deerfield, IL, Walgreens operates nearly 9,000 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving nearly 10 million customers each day.

Walgreens is located at the triangular intersection of Main Street/CT-10 and Old Turnpike road with a combined 20,000 vehicles passing by daily with great visibility and access. Main Street/CT-10 is the primary thoroughfare serving the city of Southington, an ideal location for a local pharmacy. The property is also not far from Interstate 84, with over 95,700 vehicles per day a main north/south highway taking commuters north to Hartford or south to New York City. The building features a drive-thru pharmacy, providing ease and convenience for customers picking up prescriptions. The asset is a mile north of The Village Shops, a 288,000 square foot shopping center with major tenants including Lowe’s Home Improvement, Target, and more. In addition, Walgreens is located south of Southington Center, a 156,000 square foot shopping center anchored by a Walmart Neighborhood Market. The property is in the heart of the main retail corridor with other nearby national/credit tenants including HomeGoods, Michael’s, Dollar Tree, and more, further increasing consumer traffic to the site. The 5-mile local trade area is supported by a population of over 77,200 residents with an affluent average household income of $125,491.

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