Walgreens - Montgomery, AL_Property for Sale
Walgreens - Montgomery, AL_Property for Sale
3892 Atlanta Hwy, Montgomery, AL, 36109, US

Walgreens - Montgomery, 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 Montgomery, AL. The Asset is  strategically located on the corner of Atlanta Hwy and Perry Hill Rd with exposure to 50,000 VPD. The surrounding corridor is comprised of an array of commercial activity, highlighted by the Central Alabama VA Medical Center, a Publix anchored shopping center, and Faulkner University, all located less than 1.5-miles from the Property. The area also includes a plethora of apartment buildings, businesses, hotels, and Maxwell Air Force Base, Alabama’s largest air force base. This location ranks in the 78th percentile of most frequented Walgreens locations, per Placer Ai.


The capital city of Alabama, Montgomery has become a hotspot for businesses and investors alike due to its strong higher education institutions, well-balanced economy, and affordable real estate market.


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 major market. 


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

...

Attributes

Asking Price
₹380,538,000
Building area Gross
1,314 m²
Occupancy
100.00%
Year built
2004
Land area Gross
0.68 ha (6,758 m²)
Cap Rate
5.70%
NOI
₹21,695,000

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

1.5-miles from the campus of Faulkner University - a private institution with over 3,500 students

Hard-Corner Location at Atlanta Hwy & Perry Hill Rd with exposure to over 50,000 VPD

Property is an outparcel of Dalraida Commons, anchored by Publix & Piggly Wiggly stores

Hospital adjacent from Central Alabama VA Medical Center - a 285-bed general service medical facility

Walgreens - Montgomery, AL 4_Property for Sale

Contact brokers

Walgreens - Montgomery, AL (0 Properties)

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Last updated
15 Sep 2023