Walgreens - Marion, OH_Property for Sale
Walgreens - Marion, OH_Property for Sale
1321 Delaware Ave, Marion, OH, 43302, US

Walgreens - Marion, OH

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale a single tenant Walgreens (the “Property” or “Asset”) offering in Marion, OH. The Property is optimally situated on a 2-acre corner parcel with exposure to more than 25,000 VPD. The surrounding is comprised of significant commercial activity. Directly across the street is Marion Shopping Centre as well as a top performing Kroger grocery store which attracts more than 1.2 million visits annually. OhioHealth Marion General Hospital, a 250-bed level 1 trauma facility, is located two blocks from the Asset. This is the only Walgreens within a 20-mile radius, fulfilling a high consumer demand to the community. The city of Marion is a city of 36,000 residents approximately 45-miles north of Columbus rich in agricultural resources and is currently experiencing a renaissance of new developments and projects within the community.


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.


Broker of Record: Bill Poffenberger - bill.poffenberger@jll.com - License # OH - 352247

...

Attributes

Asking Price
€4,273,000
Building area Gross
1,377 m²
Occupancy
100.00%
Year built
2007
Land area Gross
0.80 ha (7,972 m²)
Cap Rate
5.90%
NOI
€253,000

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

High demand location - only Walgreens in a 20-mile radius, fulfilling high demand for community members

Hard-Corner Location on Delaware Ave and Barks Rd E with exposure to over 25,000 VPD

Strong Retail corridor as the property sits across the street from Marion Centre Mall and a Kroger grocery store

Two blocks away from OhioHealth Marion General Hospital, a 250-bed level 1 trauma facility

Walgreens - Marion, OH 4_Property for Sale

Contact brokers

Walgreens - Marion, OH (0 Properties)

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Last updated
15 Sep 2023