Walgreens: Milledgeville, GA

1.5% commission to outside agents

Long term Absolute NNN lease
The subject property operates under a long term Absolute NNN Lease with no landlord management or maintenance responsibilities whatsoever.

Rare 5% rent increases every 5-years
The lease offers 5% rent increases every 5-years during the original term and the 12, five-year renewal options (if exercised) providing exceedingly more cash flow than a traditional flat Walgreens lease.

Critical drive-through lane
According to the Wall Street Journal, more companies look for properties that will allow them to serve customers in their cars. Interest in drive-through real estate was growing even before Covid-19, but it exploded last year when total sales volume for restaurants, pharmacy and bank properties hit a record $12 billion, according to data firm CoStar Group Inc. Finding drive-through real estate can be challenging, especially in densely built areas, because the properties need to have enough space to accommodate long lines of cars.

Located in a dense retail corridor
The Walgreens in in a dense retail corridor surrounded by a variety of national retailers and restaurants including Lowe’s, Walmart Supercenter, Aldi, PetSmart, Aspen Dental, Ross, KFC, Truist Bank, Chick-fil-a, Hobby Lobby, Applebee’s Dukin’ Donuts, Advance Auto Parts, Zaxby’s, Ace Hardware, Wendy’s, Waffle House, Sonic Drive-In, Hampton Inn, TJ Maxx, Office Depot, Bath & Body Works, Belk, Planet Fitness, Big Lots, Chipotle, Days Inn, Taco Bell, Starbucks, Longhorn Steakhouse, and many others.

Investment grade tenant2
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.

Signalized corner | High traffic count | Excellent visibility
The Property is located on a signalized hard corner with frontage along heavily-trafficked N. Columbia Street and Robertson Mill Road, with combined average daily traffic counts of 59,205.

Essential retailer operating and assisting U.S. authorities during the Covid-19 pandemic3
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-to-date 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.

(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

GA Broker of Record: John Leonard
License: 252904