Walgreens: Lauderdale Lakes, FL (Miami-Fort Lauderdale MSA)

RARE WALGREENS LEASE WITH RENT INCREASES
The Lease provides 5% fixed rent increases every 5-years during the primary term and the 12, 5-year option periods.

NEW 15-YEAR ABSOLUTE NNN LEASE
The subject property operates under a new Absolute NNN Lease with no Landlord management or maintenance responsibilities whatsoever.

INVESTMENT GRADE TENANT
The Lease is guaranteed by Walgreen Co., a subsidiary of Walgreens Boots Alliance, Inc. and rated Baa2/Stable by Moody’s. Walgreens Boots Alliance, Inc., the Parent Company, carries an Investment Grade Credit Rating of BBB/Stable from S&P and Baa2/Stable from Moody’s.

WELL-ESTABLISHED LOCATION WITH DRIVE-THRU
The subject property benefits from a drive-through pick-up window to deliver prescription and non-prescription drugs along with many other essential retail items during the COVID-19 pandemic. Walgreens has a 16-year operational history at this location and the new 15-year absolute NNN lease (with increases) reflects their re-commitment to this location for the foreseeable future.

ESSENTIAL RETAILER OPERATING AND ASSISTING U.S. AUTHORITIES DURING THE COVID-19 PANDEMIC(3)
As a global, pharmacy-led health care company, Walgreens Boots Alliance has been working to ensure the safety and well-being of their colleagues, patients and customers during the pandemic of COVID-19. Their retail pharmacies have worked to provide up-todate information and public health guidelines to customers, and their emergency response teams across the business are actively working to find ways play a greater role in what has become a global emergency – including working with the United States federal government to expand access to COVID-19 testing.

LOCATED ON A WALMART SUPERCENTER OUTPARCEL AT THE CITY’S CENTER CROSSROADS
The Walgreens sits on a Walmart Supercenter outparcel at the center crossroads for Lauderdale Lakes in the heart of Broward County. The heavily-trafficked intersection has average daily traffic counts of 63,451 (SR 816 / N. Oakland Park Blvd.) and 56,002 (N. State Road 7). Access to the Florida’s Turnpike, with average daily traffic counts of 136,800, is less than one mile west of the property.

MIAMI - FORT LAUDERDALE MSA LOCATION IN THE HEART OF BROWARD COUNTY
Situated 6 miles northwest of Fort Lauderdale and 30 miles north of Miami, the property is centrally located in the heart of Broward County with over 6 million residents in the metropolitan area. A labor force of nearly 1 million workers and a consumer market of more than half a million households within a 15-minute drive of the property. The Miami-Fort Lauderdale metropolitan area is the most populous in Florida and second largest in the southeastern United States extending about 120 miles from north to south.

(1) Rentable Area, Lot Size, Guarantor, Lease Terms, Building Specifications, Year Built, Demographics and S&P/Moody’s Ratings are estimates. Buyer is responsible for verifying during the Due Diligence process.
(2) All financial data shown above is for Walgreens Boots Alliance, Inc., the Parent Company. The Tenant under the Lease, Walgreen Co., is a subsidiary of Walgreens Boots Alliance, Inc., the parent company. Walgreens Boots Alliance, Inc. does not guarantee the lease.
(3) Sources: www.walgreensbootsalliance.com

FL Broker of Record: Ryan Nee
Lic.# BK3154667