|Current / Passing Rent||S$428,100|
|Options||10, 5-year options|
Property DescriptionJLL is pleased to offer for sale the fee-simple interest in a freestanding, single-tenant Walgreens (the ?Property? or ?Asset?) located in Whiteville, North Carolina. The Property is leased to Walgreens on a NNN basis with more than 12 years of primary term remaining, and ten, five-year renewal options. Strategically positioned on the hard corner and signalized intersection of JK Powell Boulevard and Washington Street, the Property possesses excellent visibility and exposure along Whiteville?s main retail corridor. This offering presents the opportunity to purchase a well-located property with strong tenancy from the largest retail pharmacy chain in the country operating on a long-term lease with absolutely zero landlord responsibilities.
•The Property is subject to an absolute NNN lease featuring over 12 years of primary term remaining, zero landlord responsibilities and ten, five-year renewal options.
•Walgreen Co. guarantees the lease, providing ownership with a secure income stream backed by an investment-grade ‘BBB’ credit rating from Standard & Poor’s. Walgreens is the largest retail pharmacy chain in the United States with more than 9,200 locations.
•Located on the hard corner and signalized intersection of JK Powell Boulevard and Washington Street, the Property possesses great real estate fundamentals and has exposure to combined traffic counts of 30,000 vehicles per day.
•The Asset is located within close proximity to the area’s major traffic-drivers, including the Columbus County Courthouse, Whiteville High School, and Columbus Regional Hospital.