Lakewood CA – Walgreens

Description:

Long-Term Absolute NNN Lease – Recent Lease Extension
13 years of term remaining on an absolute NNN lease, with no Landlord maintenance or expense responsibilities
Tenant extended the base term of the Lease in June 2023 adding an additional 10 years to the original term, evidence of Walgreens long-term commitment to this location

Walgreens Corporate Guarantee – Excellent Store Sales
Walgreens (S&P rating of BB-) reported $147 billion in revenue for 2024 and $81 billion in Assets.
High performance location – strong historical Store sales (contact Broker for details)

High-Traffic Location
Located in a highly trafficked retail corridor at the signalized, hard-corner intersection of Lakewood Boulevard and South Street
Combined traffic count at the intersection of Lakewood Blvd and South Street is 58,198 vehicles per day

Strong Demographics | Affluent Trade Area
258,123 residents within a 3-mile radius
Average household income is approximately $128,744 within 1 mile

Strong Retail Synergy
Walgreens is less than ½ mile east of a Walmart Supercenter and a WinCo Foods which ranks in the top 25% of all WinCo locations nationwide in visits according to Placer.ai
Less than 1 mile north of Lakewood Center, a regional shopping mall with over 2 million square feet of retail space, anchored by Costco, Forever 21, JCPenney, Macy’s and Target

Major Hospital & Education Center Proximity
Less than ½ mile east of Lakewood Regional Medical Center (UCI Health – Lakewood), a 172-bed acute care hospital serving both Los Angeles and Orange Counties, helping drive prescription sales at this Walgreens location
1.5 miles west of Mayfair Middle/High School (~2,570 students)
2.5 miles north of Lakewood High School (~2,760 students)

3 Miles North of Long Beach Airport, the 10th Busiest Airport in California with 1.4 Million Passenger Boardings