US - Lubbock, TX
HK$79,617,000 | 70,479 sf
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire the fee-simple interest in a Walgreens located at 5995 Mobile Highway in Pensacola, Florida (the “Property” or “Asset”). Due to its warm climate and pro-business environment, Pensacola has experienced a fast economic recovery from the pandemic relative to other tourist focused markets.
The Asset is strategically located at the lighted intersection of Mobile Highway and Saufley Field Road, an intersection that sees over 62,500 vehicles per day. The Asset gains additional traffic due to its ideal positioning directly next to Planet Fitness and across the street from a Publix anchored shopping center with additional retailers including Verizon Wireless and Firehouse Subs. The Property is also proximate to Belleview Elementary School and Belleview Middle School, which has a combined 1,600+ students enrolled, as well as the Pensacola Fair.
Due to its success, Walgreens will execute a brand-new 15-year absolute NNN lease on a low $212K annual rent at closing of escrow. Following the 15-year in-place lease term, there are twelve (12) 5-year extension options.