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 100 Little Texas Road, Travelers Rest, South Carolina (the “Property” or “Asset”). Walgreens has over 11 years left on its absolute NNN lease with 5.0% rent bumps every 5-years in the base term and options.
The Property is also ranked in the 78th percentile of Walgreens in the state for annual visits, per Placer.ai. It is also ranked #2 out of 14 Walgreens locations within a 15-mile radius.
The Property benefits from being a northern suburb of Greenville, SC and has seen 18% population growth within a 5-mile radius the past decade. The area is also affluent, with $100,000 average household income within a 3-mile radius. The Asset is located less one mile from the family medicine outpatient center of Prisma Health, a 2,947-bed medical facility with over $5.7 million in operating revenue, and two miles from Furman University, a private university with over 2,500 students enrolled. The Property is within a dense retail trade area with numerous national retailers including the 93rd and 90th percentile Waffle House and KFC stores in the nation by annual visits, per Placer.ai. The Property is adjacent to the second best Walmart in the local area with over 1.9 million visitors annually. Situated along North Highway 25 Bypass and Little Texas Road, the Asset has direct exposure to over 26,000 vehicles per day.
- Brand new 11-year absolute NNN lease with no landlord responsibilities
- Investment-grade tenancy (S&P: BBB) with corporate guaranty
- 78th percentile ranked Walgreens in South Carolina
- Over 137,000 visits annually
- 18% Population growth since 2010
- Proximate to 2nd best Walmart in local area with over 1.9 million annual visitors
- Located on the corner of North Hwy 25 Bypass & Little Texas with exposure to 26,000 VPD
- Ranked one of the top ten states in the nation to do business according to Chief Executive Magazine