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Drug Store

Walgreens

350 N Union Blvd, Colorado Springs, CO 80909

Listing Price: $7,996,000

Cap Rate
6.25%
Tenant Name
Walgreens
Years Remaining On Lease
4.9
Gross SF
15,120
Guarantor
Corporate Guarantee
Rentable SF
15,120
Price/Gross SF
$528.84
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$33.05

Investment Overview

Walgreens is an American pharmaceutical company which operates the largest drug retailing chain in the United States of America. It specializes in serving prescriptions, health and wellness products, health information and photo services. As of August 31, 2019, the company operated 9,277 stores in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. The Colorado Springs metro contains a population of approximately 692,900 people. Colorado Springs is the largest city, with around 443,100 residents, followed by Security-Widefield and Fountain. The population in the metro is expected to grow by 51,600 residents over the next five years.

Investment Highlights

  • Absolute Triple-Net (NNN) Corporate Lease with Five Years Remaining
  • Over 20 Year Operating History - Tenant has Occupied Site Since 2001
  • 268,218 Residents Within a Five-Mile Radius - Dense Colorado Springs Infill
  • High Traffic and Signalized Hard Corner Location with 56,000 Cars per Day at the Intersection of North Union Boulevard and East Platte Avenue
  • Across from UCHealth Memorial Hospital and Children's Hospital Colorado
  • Situated Across from the Flagship U.S. Olympic & Paralympic Training Center, a Stateof- the-Art 37-Acre Athletic Complex for 15 Olympic Sports
  • Less than 10 Minutes East of Downtown Colorado Springs
  • Strong Daytime Population - 322,054 Employees in Surrounding Area

Exclusively Listed By

Broker of Record

  • Adam A. Lewis

    Vice President/Regional Manager

    (303) 328-2000

    License(s) CO: ER100091205

    Colorado

Financing By

Listing Price: $7,996,000

Cap Rate
6.25%
Tenant Name
Walgreens
Years Remaining On Lease
4.9
Gross SF
15,120
Guarantor
Corporate Guarantee
Rentable SF
15,120
Price/Gross SF
$528.84
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$33.05

Investment Highlights

  • Absolute Triple-Net (NNN) Corporate Lease with Five Years Remaining
  • Over 20 Year Operating History - Tenant has Occupied Site Since 2001
  • 268,218 Residents Within a Five-Mile Radius - Dense Colorado Springs Infill
  • High Traffic and Signalized Hard Corner Location with 56,000 Cars per Day at the Intersection of North Union Boulevard and East Platte Avenue
  • Across from UCHealth Memorial Hospital and Children's Hospital Colorado
  • Situated Across from the Flagship U.S. Olympic & Paralympic Training Center, a Stateof- the-Art 37-Acre Athletic Complex for 15 Olympic Sports
  • Less than 10 Minutes East of Downtown Colorado Springs
  • Strong Daytime Population - 322,054 Employees in Surrounding Area

Investment Overview

Walgreens is an American pharmaceutical company which operates the largest drug retailing chain in the United States of America. It specializes in serving prescriptions, health and wellness products, health information and photo services. As of August 31, 2019, the company operated 9,277 stores in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. The Colorado Springs metro contains a population of approximately 692,900 people. Colorado Springs is the largest city, with around 443,100 residents, followed by Security-Widefield and Fountain. The population in the metro is expected to grow by 51,600 residents over the next five years.

Exclusively Listed By

Broker of Record

  • Adam A. Lewis

    Vice President/Regional Manager

    (303) 328-2000

    License(s): CO: ER100091205

    Colorado

Financing By

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