Subject property includes a 14,490 SF single story, free-standing retail building developed specifically for Walgreens Pharmacy and an additional 7400+/- square foot Retail/Office building included, both structures are 100% occupied. Property is priced based on the Walgreens income only, with additional income generated by the Retail/Office center included in the sale at no additional cost. The asset is secured by an Absolute Net Lease from Walgreens with 14+ years remaining until the first right of termination. After the base term of the initial 25 year lease which expires in 2028, the lease automatically continues in full force and effect for another 50 years unless Walgreens cancels. Walgreens may cancel at the end of the 25th lease year and every 5 year period thereafter. The lease is guaranteed by Walgreens Co., the largest pharmacy retailer in the country with a market cap of more than $53B. • Walgreens Signalized Corner• 14+ Years Remaining• Absolute Net Lease on Walgreens• Additional Retail/Office Building Included - Area description: Property is located at a major signalized corner in Granger, Indiana. Granger is part of St. Joseph county and is 1.5 hours from Downtown Chicago, Illinois. It is situated in Northern Indiana just a 20 minute drive to both South Bend and Elkhart, Indiana just North of I-90 (Indiana Toll Rd). There is a population of over 90,000 people within a 5 mile radius of this location.
|25 Mb/s: Comcast|
|3 Mb/s: AT&T Indiana|