Tenant: Walgreens | South Glens Falls, NY Premises: 9,500 SF Renewal Options: 3 x 5 Years
Lease Expiration: 10/31/2025 Lease Type: NNN Rental Increases: 10% at Each Option
Sands Investment Group is Pleased to Exclusively Offer For Sale the 9,500 SF Walgreens Triple Net Lease Located at 94 Main Street in South Glens Falls, New York. Approximately 4 Years Remain on a Triple Net Lease With 10% Increases at Each Option Period. Walgreens Just Extended Their Lease Showing Commitment to the Location. This Property Provides a New Owner With an Opportunity to Purchase an Essential Business With an Investment Grade Tenant (S&P: BBB) and Corporate Guarantee. The Current Rent is a Replaceable $11.58 Per Square Foot, Which Results in an Asking Price That is Below the Replacement Cost For the Property.
Multiple 5-Year Options to Extend With Fixed Increases of 10%, Providing Landlord Leverage on Renewal Negotiations
Current Annual Rent of $11.58 PSF is Replaceable and Below the Chainwide Average – Improving Likelihood of Renewal
Recent 5-Year Extension Showing Commitment to the Location
Walgreen Co. a Subsidiary of Walgreens Boots Alliance Inc. (NASDAQ: WBA) Reported Total Revenues in Excess of $139 Billion in the 2020 Fiscal Year
This Store Has Operated as a Drug Store For More Than 25 Years
Investment Grade Tenant (S&P: BBB) With Corporate Guarantee (Walgreen Co.)
Located on the Main Retail and Commuter Thoroughfare in South Glens Falls With a Traffic Count of More Than 21,561 VPD
Situated in Close Proximity to Glens Falls Hospital a 410-Bed Community Hospital That Operates 28 Off-Campus Health Care Facilities Throughout the Region
Limited Drug Store Competition in the Trade Area; The Hudson River Creates a Natural Border Making This Location the Easiest and Most Accessible National Drug Store Provider For All of the Residents in South Glens Falls
Nearby Tenants Include: McDonald’s, Dollar Tree, Rent-A-Center, Dunkin’, Family Dollar, Advance Auto Parts, Hannaford Supermarket, Ace Hardware and More
In Cooperation With SIG RE Services NY LLC – Lic. # 10991233211 BoR: Andrew Ackerman – Lic. # 10491210161
Walgreens Boots Alliance (NASDAQ: WBA) is a global leader in retail and wholesale pharmacy, touching millions of lives every day through dispensing and distributing medicines, its convenient retail locations, digital platforms and health and beauty products. The company has more than 100 years of trusted health care heritage and innovation in community pharmacy and pharmaceutical wholesaling.
Including equity method investments, WBA has a presence in more than 25 countries, employs more than 450,000 people and has more than 21,000 stores.
WBA’s purpose is to help people across the world lead healthier and happier lives. The company is proud of its contributions to healthy communities, a healthy planet, an inclusive workplace and a sustainable marketplace. The company’s businesses have been recognized for their Corporate Social Responsibility. Walgreens was named to FORTUNE* magazine’s 2019 Companies that Change the World list and Boots UK was recognized as Responsible Business of the Year 2019-2020 by Business in the Community.
WBA is included in FORTUNE’s 2019 list of the World’s Most Admired Companies, ranked first in the food and drugstore category. This is the 26th consecutive year that WBA or its predecessor company, Walgreen Co., has been named to the list.
More company information is available at www.walgreensbootsalliance.com.