Walgreens NN Lease

Walgreens | Dansville, NY

Sands Investment Group is Pleased to Present For Sale the Walgreens NN Lease Located in Dansville, New York. This Deal Includes Nearly 8 Years Remaining on the Lease With Multiple Options to Extend Beginning With a 21% Increase in the First Option, Followed By Increases of More Than 5% in Each Option Thereafter. 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 $13.33 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 a Fixed Increase of More Than 21% in the First Option Providing Landlord Leverage on Renewal
  • Current Annual Rent of $13.33 PSF is Replaceable and Below the Chainwide Average
  • Investment Grade Tenant (S&P: BBB) With Corporate Guarantee (Walgreen Co.)
  • Walgreen Co., a Subsidiary of Walgreens Boots Alliance Inc. (NASDAQ: WBA), Reported Total Revenues in Excess of $139 Billion in the 2020 Fiscal Year
  • Limited Drug Store Competition in the Trade Area; There Are Only Two Other Drug Stores (CVS and Top’s Market) Within 8-Miles of the Property
  • Strong Fundamental Real Estate With Multiple Points of Access and Attractive Curb Appeal
  • Full Walgreens Conversion of a Former Rite Aid Store, Showing Corporate Commitment to the Location
  • Full-Service Location With Drive-Thru; The Store Also Offers Curbside Pickup and Delivery
  • Established Location – The Property Has Been a Drug Store For More Than 23 Years
  • Solid Store Performance and Relatively Low Operating Costs Yield a Current Occupancy Cost of ~5% Which Improves the Likelihood of Renewal
  • Noyes Memorial Hospital, a 67-Bed General Medical and Surgery Facility and Genesee Community College, Provides Population Anchors Within the Trade Area

In Cooperation With SIG RE Services NY LLC Lic. # 10991233211 BoR: Andrew Ackerman – Lic. # 10491210161

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