Walgreens - Tuscaloosa, AL_Property for Sale
Walgreens - Tuscaloosa, AL_Property for Sale
4400 University E Blvd, Tuscaloosa, AL, 35404, US

Walgreens - Tuscaloosa, AL

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale a single tenant Walgreens (the “Property” or “Asset”) offering in Tuscaloosa, AL near the main campus of the University of Alabama, the oldest and largest public university in the state with more than 40,000 students & faculty. The Asset is  strategically located on a 2-acre hard corner parcel adjacent to a grocery store anchored shopping center with clear visibility to over 30,000 VPD. Additionally, the Property is positioned two blocks from the Tuscaloosa VA Medical Center, a full-service hospital with 317 beds. The immediate corridor also includes a plethora of apartment buildings, businesses, hotels, and elementary schools. This location is the 9th most visited Walgreens in Alabama, per Placer Ai.


Upon close of escrow, Walgreens will execute a 15-year Absolute NNN lease with contractual increases and (12) 5-year renewal options. This Asset provides an opportunity to acquire a long-term cash flow guaranteed by Walgreens Corporate with zero landlord responsibilities in a growth market.


Broker of Record: Elizabeth "Buff" Walker Teague - buff.teague@jll.com - License # AL - 83353-0

...

Attributes

Asking Price
IDR 95,281,600,000
Building area Gross
1,377 m²
Occupancy
100.00%
Year built
2008
Cap Rate
5.50%
NOI
IDR 5,238,337,000

Media

Investment Highlights

Investment-grade tenant (S&P: BBB)

Brand-new, 15-year Absolute NNN lease with no landlord obligations & 12, 5-year renewal options

Near the main campus of the University of Alabama, the largest university in the state of Alabama

This location is the 9th most frequented Walgreens in Alabama and ranks in the 86th percentile of most visited Walgreens nationally, per Placer Ai

The Property sits on an out-pad of Skyland Plaza Shopping Center, anchored by Fresh Value grocer store and Dollar General

Two blocks away from the Tuscaloosa VA Medical Center, a 317-bed full service medical facility

Walgreens - Tuscaloosa, AL 4_Property for Sale

Contact brokers

Walgreens - Tuscaloosa, AL (0 Properties)

Similar properties

View moreChevron Right
Do you have any questions? visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. Email us today to see how we can help achieve your ambitions.
Last updated
15 Sep 2023