Walgreens

By August 18, 2015Available Properties

Investment Offering – $6,456,000

Location: 188 Union Street, Vernon, CT 06066 (HARTFORD CT, MSA)

Current Rent: $403,000 Cap Rate: 6.25%
Lease Term: 20 Remaining Term: 14.5
Lease Type: NNN Building Sq. Ft.: 13,669
Renewal Options: 10, Five Year Options

PROPERTY HIGHLIGHTS

  • Tenant: Walgreen Co. (S&P: BBB), a subsidiary of Walgreens Boots Alliance Inc. (NASDAQ: WBA, S&P: BBB), operates 8,330 stores (as of November 2014) across 50 states, the District of Columbia and Puerto Rico. The company produced total revenues of more than $77.6 billion, an EBITDA of $5.6 billion, and net income of $2.05 billion as of LTM November 2014
  • Long-Term Absolute NNN Lease: 25-year Absolute NNN Lease with 14.5 years of primary lease term remaining and ten 5-year options–No Landlord responsibilities
  • Excellent Visibility: The property is ideally positioned on a hard corner at the intersection of Union Street and West Street (Combined Traffic Count: 25,630 VPD), just 1.5 miles east of Interstate 84 (Traffic Count: 81,00 VPD) which connects the city to both Hartford and New York City
  • Dynamic Demographics: Average annual household income of $90,915 and population of 67,975 within a 5-mile radius
  • Market: Tolland County (Population: 152,377) is an upscale suburban community located within the Hartford MSA (MSA Population: 1.2 million) just 11 miles northwest of Hartford, about 80 miles northeast of New York City, 105 miles southwest of Boston and 77 miles west of Providence.
  • Other major retailers with a presence in the immediate vicinity include: 7Eleven, Super Stop & Shop, Sherwin Williams, YMCA, BJ’s Wholesale, Goodwill, Home Depot, TJ Maxx, Bed Bath & Beyond, Dominos, Bank of America, Advance Auto, CVS, BP, Wells Fargo, Subway, Target, Lowe’s and TD Bank among others.

CONTACT US

PAUL TRUPIA III
P: 646.791.0818
paul@kentwoodcapital.com

ED BRESLIN
P: 310.774.3790
ebreslin@kentwoodcapital.com

OFFERING
MEMORANDUM

To download the offering memorandum, please enter your name, email address and indicate whether you are a Buyer or Broker:

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