The Boulder Group is pleased to exclusively market for
sale a brand new construction Walgreens property located within a densely
populated area of the Chicago MSA. The property replaces a previously
successful Walgreens store with strong sales that lacked a drive-thru. The
surrounding area is densely concentrated providing high barriers to entry. The
Walgreens lease is for twenty years and is estimated to commence in February
2015. Walgreens is an investment grade tenant
(S&P: BBB) and is publicly traded on the New York Stock Exchange (WAG) with
a market capitalization in excess of $61 billion.
The 61,909 square foot Walgreens property is located along
West 95th Street approximately 15 miles southwest from downtown
Chicago. The property is benefitted by its location just off of the prime
signalized intersection of West 95th Street and Southwest Highway,
which experiences traffic counts in excess of 71,000 vehicles per day.
Interstate 294 is located less than two miles west of the Walgreens property
and experiences traffic counts in excess of 131,000 vehicles per day. The
surrounding area is densely populated with over 18,000 people living within a
one mile radius earning average household incomes in excess of $75,000
annually. Approximately 400,000 people live within a five mile radius of the
property. The Walgreens is located approximately five miles south of Chicago
Midway International Airport. Chicago Ridge Mall, an 833,000 square foot
shopping mall that is anchored by Carson Pirie Scott, Kohl’s, AMC Theatres, and
Sears is located approximately three-quarters of a mile to the west of the
Walgreens property. Additional retailers located in the immediate vicinity
include Home Depot, Bed Bath & Beyond, Michael’s, Office Depot, Pier 1
Imports, First Midwest Bank, and McDonalds.
The Walgreens lease is for twenty years and is an absolute
triple net. Rent is expected to commence in February 2015. The brand new construction Walgreens property is a
relocation of a previously successful Walgreens store that did not have a drive
thru. Walgreens is an investment grade rated tenant (S&P: BBB) and is
publicly traded (NYSE: WAG) with a market capitalization in excess of $61
billion.
http://www.bouldergroup.com/NNN-Properties-For-Sale.html