US - Lubbock, TX
IDR 150,575,888,000 | 6,548 m²
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 6314 North 9th Avenue 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 three-way intersection of Tippin Avenue, Langley Avenue, and North 9th Avenue with direct exposure to over 52,300 vehicles per day. The Asset gains additional traffic due to its ideal positioning just one mile from Ascension Sacred Heart Hospital System, ranked in the Top 100 for Total Passenger Travel; Pensacola State College, which has a combined 26,00+ students enrolled; Cordova Mall, the largest and most visited mall in the region; and Pensacola International Airport.
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.