Walgreens - Gainesville, GA_Property for Sale
Walgreens - Gainesville, GA_Property for Sale
649 Shallowford Rd, Gainesville, GA, 30504, US

Walgreens - Gainesville, GA

Asset Description

Jones Lang LaSalleAmericas, Inc.(“JLL”) is pleased to offer for sale a brand-new construction, single tenant Walgreens (the “Property” or “Asset”) offering in Gainesville, GA. The Asset is strategically located on a 2-acre hard corner parcel adjacent to Lakeshore Crossing Shopping Center, one of Georgia’s most frequented community shopping centers anchored by Walmart Supercenter, Lowe’s, and Target. The Northeast Georgia Medical Center, located less than 2-miles from the Asset, is a Level 1 trauma center with 557-beds and is positioned next to Brenau University, a four-year institution with over 4,000 students. The greater Gainesville-Hall County MSA is among the top 50 fastest growing metros in the USA and has recently attracted dozens of major corporations to the area.

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 top growth market.

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Attributes

Asking Price
₫118,379,333,000
Building area Gross
1,405 m²
Occupancy
100.00%
Year built
2001
Cap Rate
5.40%
NOI
₫6,392,484,000

Media

Investment Highlights

  • Brand-new 15-year Absolute NNN lease with periodic rent increases and Twelve (12) renewal options
  • 7 shopping centers, 15+ apartment complexes, 14 hotels, businesses, schools, universities, and top hospital within a 2-mile radius
  • Located on the corner of Pearl Nix Pkwy & Shallowford Rd with exposure to 28,000+ VPD
  • Adjacent to developing mixed-use village which will include 161 townhomes and 70 single-family cottages
Walgreens - Gainesville, GA 4_Property for Sale
Walgreens - Gainesville, GA 4_Property for Sale

Contact brokers

Walgreens - Gainesville, GA (0 Properties)

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Last updated
10 Apr 2023