Investment Overview

Marcus & Millichap presents for sale the Walgreens in Kearny, New Jersey. This 12,670 square-foot property was built in 2015 on a 1.1-acre lot on Kearny Avenue, right on the main avenue in the Town of Kearny. This Walgreens location was built with a drive-thru. Included with the sale is a Corporate Guarantee of the lease from Walgreens, Co. The lease on this property is a Ground Lease. The original term of the lease is for twenty years, set to expire in March of 2035. However, the full lease with all extensions is for 75 years, lasting until 2090, with increases every five years starting in 2025. The terms of the lease include no responsibilities for the landlord. Kearny, New Jersey is within the northern New Jersey-New York metropolitan region. The Town is situated in close proximity to several major transportation routes, including the New Jersey Turnpike, Interstate 280, and U.S. Routes 1 & 9, 3, 7, 17 & 21. Many important freight and passenger rail lines connecting New York City with the continental United States traverse the Town. Additionally, Kearny is located within several miles of the ports of Elizabeth and Newark, as well as Newark Liberty International Airport.