Overview

Description

PROPERTY DESCRIPTION
The Kase Group is pleased to present the opportunity to purchase a Walgreens location in Austin, Minnesota. The lease is corporately guaranteed by Walgreens and expires in September 2034 with ten, 5-year renewal options. This site is located at the signalized intersection of Oakland Ave W and 14th St W with exposure to 17,400+ vehicles per day from combined roads. The asset is across the street from Austin Mayo Clinic Hospital and the Westcott Sports Complex. The site borders various retailers including Dairy Queen, McDonald's, Subway, Kwik Trip, Ace Hardware and more.

LOCATION DESCRIPTION
Austin is a city in, and the county seat of, Mower County, Minnesota, United States. The population was 26,174 at the 2020 census. The town was originally settled along the Cedar River and has two artificial lakes, East Side Lake and Mill Pond. It was named for Austin R. Nichols, the area's first European settler.

Hormel Foods Corporation is Austin's largest employer, and the town is sometimes called "SPAM Town USA". Austin is home to Hormel's corporate headquarters, a factory that makes most of North America's SPAM tinned meat, and the Spam Museum. Austin is also home to the Hormel Institute, a leading cancer research institution operated by the University of Minnesota with significant support from the Mayo Clinic.

In 2015 Austin was named one of the "Top 10 Affordable Small Towns Where You'd Actually Want to Live" and one of the "Best Small Cities in America".

Highlights

• Absolute NNN Lease
• Corporate Guarantee - NASDAQ:WBA
• S&P Rated BBB- Investment Grade Credit
• $3,198,467.60 in Reported Sales
• Hard Corner Location - 17,400+ VPD
• Adjacent to Austin Mayo Clinic Hospital - 80-Beds
• 1 Mile from Downtown Austin
• Bordering various retailers including Dairy Queen, McDonald's, Subway,
• Kwik Trip, Ace Hardware and more

Documents

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