Yuma, AZ - Walgreens & Shops

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 100% leased, Walgreens-anchored, multi-tenant retail investment property located in Yuma, Arizona. The anchor tenant, Walgreen Arizona Drug Co., has been operating on site for nearly 30 years and recently signed amendments to extend the term by 5 years, including both the current term and future option periods. Additionally, the newly signed amendments introduce a rent increase schedule for Walgreens, growing NOI and hedging against inflation while also demonstrating a strong commitment to the site. Other tenants in the center boast a strong e-commerce resistant lineup. All leases are NNN in nature with limited landlord responsibilities, making it a low-management investment opportunity.

The subject property is located near the signalized, hard corner intersection of South Avenue and W. 8th Street, with a combined 40,400 vehicles passing by daily. The subject Walgreens and Shops center is strategically positioned adjacent to a Food City, one of the most visited grocery stores serving the central Yuma area. Additionally, the site is approximately 2 miles northwest of the Yuma Palms Regional Center (1 million+ SF), a major retail destination in the region, serving not only the local population but also attracting visitors from the surrounding area. The 5-mile trade area is supported by a population of over 90,000 with an average household income of $76,428.