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 602 Peterson Ave S, Douglas, GA (the “Property” or “Asset”). Due to its success, Walgreens will execute a brand-new absolute NNN 15-year lease at closing of escrow. The lease will feature 5.0% rent bumps every 5-years in the base term and options. Following the 15-year in-place lease term, there are twelve (12) 5-year extension options.
The Property is located in central Douglas in southern Georgia. The Property is within the retail trade area Peterson Ave S, Baker St, & US Hwy 441 with direct exposure to over 37,000 vehicles per day. The property is down the street from Douglas Plaza, a highly trafficked shopping center in the region with 8+ retailers and over 622,200 visitors annually, as well as a Anytime Fitness and Circle K that are ranked in the 95th and 86th percentile of their respective stores. It is less than a half-mile drive to South Georgia State College, a 190-acre campus and has over 2,000 students enrolled annually. The property is a one-hour drive to Valdosta Regional Airport. The Property benefits from proximity to Coffee Regional Medical Center, an acute Care Medical and Surgical Facility with 98 beds providing health care needs to over 30,000 residents in the greater Douglas area, Iredell, and surrounding counties, annually.
Investment-grade tenant (S&P: BBB)
Brand-new, 15-year Absolute NNN lease with no landlord obligations & 12, 5-year renewal options
23,000 residents and over 8,600 households within a 5-mile radius of the Asset
The Asset is down the street from Douglas Plaza that has over 622K visitors annually
Situated along Peterson Ave S, Baker St, & US HWY 441 (37,000 VPD)
Proximate to Coffee Regional Medical Center, a 98 bed regional hospital
Less than a half-mile to South Georgia State College