Walgreens Triple Net Lease

Walgreens | South Glens Falls, NY

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

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