Rochester, NY - Walgreens

Description:

• The tenant, Walgreens, has 7+ years remaining on their original 25-year lease with 10 (5-year) options to extend, demonstrating their commitment to the site
• The lease has no rental increases throughout the initial term or at the beginning of each option period, this is done because the tenant has a termination option every 5-years beginning on 4/30/2032 and every 5 years thereafter

• The Walgreens is located directly adjacent to McQuaid Jesuit High School, the local Highschool in Rochester that has over 765 Students enrolled as of 2024
• Above average stores sales for the location
• Located 1.7 miles from Strong Memorial Hospital (886 bed facility) part of the University of Rochester Medical Center complex
• The asset is less than 5-miles from a 150,000+ square foot Walmart Supercenter that also includes many other national/credit tenants
• There is new construction in the area with the Lac De Ville shopping center- ALDI, Starbucks and Jersey Mike’s
• Subject Property Walgreens is ranked 3,470 / 7,521 out of comparable Walgreens (top 53rd percentile)
• Tops - 1900 S Clinton Ave, Rochester, NY 14618 - Ranked 23 / 148 out of comparable Tops (top 85th percentile)
• Costco - 335 Westfall Rd, Rochester, NY 14620 - Ranked 187 / 580 out of comparable Costco (top 67th percentile)
• The Walgreens is a 5-mile drive to Frederick Douglass Greater Rochester International Airport, the Local aiport serving the city of rochester and surrounding areas, the aiport sees over 60 commercial flights, and over 185 private flights per day
• The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Five Guys, Chick-fil-A, Texas Roadhouse, and more, further increasing consumer traffic to the site