Cortland, 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 2/29/2032 and every 5 years thereafter

• The Walgreens is located directly adjacent to SUNY Cortland - School Of Professional Studies, the local Professional Studies school in Cortland that has over 6,938 Students enrolled as of 2024
• The asset is less than 2-miles from a 100,000+ square foot Walmart Supercenter that also includes many other national/credit tenants, including a Dollar Tree, JCPenney, Applebee’s Grill & Bar, Taco Bell, McDonald’s, and more
• The property is in the center of a primary retail corridor with other nearby national/credit tenants including an ALDI, A&W Restaurant, Big Lots, Dunkin, Starbucks, Wendy’s and more, further increasing consumer traffic to the site