Walgreens | 13 Year NNN Lease

Highlights:

• 13 year corporate lease with 12 5-year options
• Investment grade tenant (S&P BBB-)
• Fee simple NNN with no landlord responsibilities
• Rare 5% rent increases every 5 years through initial term and option periods
• Located on signalized hard corner with a combined traffic count of 44k VPD
• Strategically located one mile from Cape Coral Hospital (291 beds)

Description:

Located less than 5 miles from downtown Fort Meyers and just 6 miles from Cape Coral, Walgreens is positioned on a hard corner at the signalized intersection of Del Prado Boulevard N and Hancock Bridge Parkway.

The property is adjacent to demand drivers including Caloosa Elementary and Middle schools, Lowe’s Home Improvement, Target, Burlington, Publix, Bed Bath & Beyond, Michaels, Walmart Neighborhood Market, PetSmart, and ALDI to name a few. Walgreens is also 1-mile from Cape Coral Hospital—a 291 bed hospital equipped with numerous specialties, including cardiovascular, orthopedic, and neuroscience care.

Cape Coral is a principal city to the Cape Coral-Fort Meyers Metropolitan Statistical Area (MSA Population: 787,976), which consists of Lee County. The area’s major industries include construction, retail, leisure, and hospitality. Lee County is home to Hertz headquarters, which relocated to the region in 2016. The largest employers in the MSA include Lee Health (13,595), Lee County School District (12,936), and Lee County Government (9,038).

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