Investment Overview

The subject property is a 16,500-square-foot Walgreens located in Jonesboro, Arkansas. Walgreens has signed a corporate-backed 70-year absolute net lease which commenced in 2012, with 7 years remaining before the first termination option. The store is located at the hard corner of Stadium Boulevard and East Nettleton Avenue, providing excellent visibility and exposure to over 34,000 vehicles per day, making it one of the busiest corners in the city. The Walgreens is strategically positioned one block north of The Mall at Turtle Creek, a 730,000-square-foot regional mall with over 70 specialty retailers and restaurants, including Target, Dillard’s, JCPenney, Chick-fil-A, Chili’s, and Chuck E. Cheese. Jonesboro is among the largest cities in the state of Arkansas and the fastest-growing city. Form a triangle by connecting Little Rock, St. Louis, and Memphis, and you’ll see Jonesboro stands out as the largest metropolitan city in what amounts to a 17,000 square-mile triangle area. The Jonesboro region is a proven leader in a number of categories attractive to business including geography, favorable climate, viable economy, advantageous tax structure, affordable housing, low crime rate, growing medical community, opportunity for education, expanding retail and industrial community, recreational opportunities, cultural, sports and civic organizations.