Skip to main content

Drug Store

Walgreens | VillageMD

5995 US-6, Portage, IN 46368

Listing Price: $3,439,236

Cap Rate
7.20%
Tenant Name
Walgreens
Years Remaining On Lease
7.1
Gross SF
13,838
Guarantor
Corporate Guarantee
Rentable SF
13,838
Price/Gross SF
$248.54
Lease Type
Double Net
Rent Per Square Feet
$17.89

Investment Overview

Marcus & Millichap is pleased to present the corporate Walgreens located at 5995 US-6 in Portage, Indiana. The property was constructed in 1999 as a build-to-suit for Walgreens. This 13,838 square foot building is situated on a 4.04 acre lot. The tenant, Walgreen Co., has seven years remaining on the base lease term with eight, five-year options to renew. Walgreen Co. is subject to a corporately-guaranteed NN lease with the landlord responsible for roof & structure. The Portage Walgreens location features a drive-thru pharmacy as well as beer, wine and liquor sales. This Walgreens is part of a three-property Walgreens Portfolio. Locations may be acquired separately or in combination. Walgreens is owned by the Walgreens Boots Alliance, Inc. (NASDAQ: WBA, S&P BBB). The parent company is currently the largest retail pharmacy in the US and Europe, with 13,200 stores in over 11 countries. Walgreens is a market leader in the US and has 9,277 retail stores which includes Walgreens and Duane Reade. More than eight million customers interact with Walgreens each day in communities across America, using the most convenient, multi-channel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice. This Walgreens property is a future site for a Village Medical at Walgreens, a co-tenancy partnership. In July 2020, Walgreens Boots Alliance, Inc. and VillageMD announced that Walgreens will be the first national pharmacy chain to offer full-service doctor offices co-located at its stores, offering value-based and convenient primary care to Walgreens customers. There are 600-700 "Village Medical at Walgreens" planned within the next five years with the intent to build hundreds more thereafter. The subject property is strategically located with excellent visibility on US Route 6 at the corner of a signalized intersection. The property also benefits from its close proximity to the Interstate-90/Interstate-80/Interstate-94 Interchange, which experiences over 40,000 vehicles per day. The immediate trade area is home to an abundance of national retailers and quick-service restaurants including Lowe’s, Meijer, Menards, ALDI, Kohl’s, among many others. Walgreens is also situated 11 miles from Valparaiso University. There are 6.1+ million square feet of retail within a five-mile radius from this asset. US Route 6 experiences nearly 20,000 vehicles per day. Walgreens is strategically located seconds from Porter Health Care System – Portage Campus. The hospital has 301 beds. Portage, Indiana is situated 45 minutes from Chicago and features great demographics; there are over 87,000 residents with an average household income exceeding $71,000 within a five-mile radius. This Walgreens property provides an investor with a stabilized investment grade asset situated near a hospital.

Investment Highlights

  • Seven Years Remaining on Corporately Guaranteed, NN Lease Term
  • Investment Grade Tenant | Walgreen Co. (S&P: BBB)
  • Future 'Village Medical at Walgreens' Site
  • Excellent Visibility on US Route 6- 20,000 Vehicles Per Day
  • Drive-Thru Pharmacy | Beer, Wine & Liquor Sales
  • Core Retail Market: 6.1+ Million Square Feet of Retail Within Five Miles
  • Seconds from Porter Health Care System – Portage Hospital (301-Beds) | 11 Miles From Valparaiso University
  • Great Demographics – Over 87,000 Residents With an Average Household Income Exceeding $71,000 Within a Five-Mile Radius

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/Regional Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Drug Store

Walgreens | VillageMD

Listing Price: $3,439,236

Cap Rate
7.20%
Tenant Name
Walgreens
Years Remaining On Lease
7.1
Gross SF
13,838
Guarantor
Corporate Guarantee
Rentable SF
13,838
Price/Gross SF
$248.54
Lease Type
Double Net
Rent Per Square Feet
$17.89

Investment Highlights

  • Seven Years Remaining on Corporately Guaranteed, NN Lease Term
  • Investment Grade Tenant | Walgreen Co. (S&P: BBB)
  • Future 'Village Medical at Walgreens' Site
  • Excellent Visibility on US Route 6- 20,000 Vehicles Per Day
  • Drive-Thru Pharmacy | Beer, Wine & Liquor Sales
  • Core Retail Market: 6.1+ Million Square Feet of Retail Within Five Miles
  • Seconds from Porter Health Care System – Portage Hospital (301-Beds) | 11 Miles From Valparaiso University
  • Great Demographics – Over 87,000 Residents With an Average Household Income Exceeding $71,000 Within a Five-Mile Radius

Investment Overview

Marcus & Millichap is pleased to present the corporate Walgreens located at 5995 US-6 in Portage, Indiana. The property was constructed in 1999 as a build-to-suit for Walgreens. This 13,838 square foot building is situated on a 4.04 acre lot. The tenant, Walgreen Co., has seven years remaining on the base lease term with eight, five-year options to renew. Walgreen Co. is subject to a corporately-guaranteed NN lease with the landlord responsible for roof & structure. The Portage Walgreens location features a drive-thru pharmacy as well as beer, wine and liquor sales. This Walgreens is part of a three-property Walgreens Portfolio. Locations may be acquired separately or in combination. Walgreens is owned by the Walgreens Boots Alliance, Inc. (NASDAQ: WBA, S&P BBB). The parent company is currently the largest retail pharmacy in the US and Europe, with 13,200 stores in over 11 countries. Walgreens is a market leader in the US and has 9,277 retail stores which includes Walgreens and Duane Reade. More than eight million customers interact with Walgreens each day in communities across America, using the most convenient, multi-channel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice. This Walgreens property is a future site for a Village Medical at Walgreens, a co-tenancy partnership. In July 2020, Walgreens Boots Alliance, Inc. and VillageMD announced that Walgreens will be the first national pharmacy chain to offer full-service doctor offices co-located at its stores, offering value-based and convenient primary care to Walgreens customers. There are 600-700 "Village Medical at Walgreens" planned within the next five years with the intent to build hundreds more thereafter. The subject property is strategically located with excellent visibility on US Route 6 at the corner of a signalized intersection. The property also benefits from its close proximity to the Interstate-90/Interstate-80/Interstate-94 Interchange, which experiences over 40,000 vehicles per day. The immediate trade area is home to an abundance of national retailers and quick-service restaurants including Lowe’s, Meijer, Menards, ALDI, Kohl’s, among many others. Walgreens is also situated 11 miles from Valparaiso University. There are 6.1+ million square feet of retail within a five-mile radius from this asset. US Route 6 experiences nearly 20,000 vehicles per day. Walgreens is strategically located seconds from Porter Health Care System – Portage Campus. The hospital has 301 beds. Portage, Indiana is situated 45 minutes from Chicago and features great demographics; there are over 87,000 residents with an average household income exceeding $71,000 within a five-mile radius. This Walgreens property provides an investor with a stabilized investment grade asset situated near a hospital.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/Regional Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

MM Texture Background
MM Textured Background Lower