Orlando, FL (Lake Nona) - Walgreens

Description:

• The tenant currently has 11+ years remaining on their initial lease with
9 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 5% rental increases at the beginning of each option, growing NOI and hedging against inflation
• Walgreens currently operates nearly 8,500 retail locations across America, Puerto Rico, and the U.S. Virgin Islands, and serves nearly 10 million customers each day
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Ideal, management-free investment for a passive investor

• The subject property is located at the signalized, hard corner intersection of Narcoosee Rd and Luminary Blvd which combined average 75,900 VPD
• The site is ideally located in a dense retail corridor, with numerous nearby national/credit tenants including Publix, Aldi, Chick-fil-A, Arby’s, Pet Supermarket, and more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
• Furthermore, the asset is in close proximity to Lake Nona Middle School (1,715 students), Eagle Creek Elementary School (841 students), and Lake Nona High School (4,546 students) which increases consumer traffic to the immediate trade area
• The asset is drive-thru equipped
• Royal Palm Companies secured $56 million in financing for a new 320-unit Class-A apartment community scheduled to open in early 2027
• Lake Nona, referred to as “the Future of Cities” by Fortune magazine, ranks among the fastest-growing, best-selling communities in America
• More than 90,000 residents and 15,000 employees support the trade area
• $169,531 affluent average household income within a 1-mile radius