Overview

Description

An opportunity to own a Prime location Walgreens with a long term operating history and a NNN lease. This location was acquired by Walgreens in 2012 as part of the USA Drug Pharmacy Chain (May's Drugs) acquisition. Walgreens is a wholly owned subsidiary of Walgreens Boots Alliance Inc., a publicaly traded company (NASDAQ:WBA) with investment grade credit rated by Standard & Poor's.
The current 20 year lease expires in 2024 and provides 4, five year options offering rent increases in each option.

At any time after Tenant has occupied the Premises for 20 years minimum, and upon written notice from Tenant, Landlord shall replace roof/HVAC units at its expense. Landlord's roofing or HVAC contractor may inspect to concur the need for replacement was not caused by tenant neglect. Tenant is obligated to maintain service contracts on HVAC and roof with minimum twice annual service. Failure to do so shall result in negating Landlord's responsibility.

This property enjoys a PRIME, signalized corner location of South Sheridan Road and East 31st. Street offering excellent visibility and excellent exposure to over 40,000 vehicles daily . The location is convenient to both Interstate 44 and US Highway 64, the junction being just a couple blocks away. The parcel is a part of Bowman Acres Plaza, and as such, Walgreens enjoys the additional benefit of its neighbor tenants including Family Dollar and Laser Quest.
Additionally, the property is close to the University of Tulsa and the Tulsa State Fairgrounds, host of hundreds of events each year.
The area features a very high population density with over 252,000 people within a 5 mile radius.

Tulsa is the second largest city in Oklahoma and 45th. most populous city in the United States. The city has been called one of America's "most livable cities" , a U.S. "city for the future" and Business Week has ranked Tulsa among the "Top 50" best cities in the United States.

Highlights

• NNN Walgreen's Drug with Drive Thru and long term operational history
• Excellent signalized corner location - great visibility - traffic counts over 40,000 vehicles daily
• Dense Residential area - over 252,000 within a 5 mile radius
• Close to the University of Tulsa , Tulsa State Fairgrounds
• A couple blocks from Kindred Hospital

Documents

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