Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the fee-simple interest in three single-tenant, corporate guaranteed, Walgreens locations in Houston Texas, White Bear Lake, Minnesota, and Cicero New York. All properties are leased to and guaranteed by Walgreens Boots Alliance, an “essential-use” and recession-resilient tenant. Walgreens is considered “investment grade” credit and is publicly traded on the New York Stock Exchange (NYSE: WAG) Moodys Baa2 / S&P BBB. The portfolio has an average lease term of eight years plus remaining on an absolute NNN fee simple basis with zero landlord responsibilities, providing consistent and reliable long-term cash-flow. This portfolio also provides investors with the unique opportunity to assume an existing loan with 6.5+ years remaining until the maturity date, with a fixed interest rate of 4.70 percent, which is well below the current market-average borrowing rate. With the attractive rate and terms on the assumable loan, investors can maximize cashflow without the need for loan origination, making this an ideal opportunity for 1031-exchange buyers with limited closing timelines. The three Walgreens locations have excellent real estate fundamentals, situated on high-traffic arterial roads with proximity to housing, employment, education, and other attractions. All three Walgreens locations feature FedEx Onsite and drive-through pharmacy windows. The Houston location features Village Medical clinic, offering a suite of additional medical services to the local community.