Offering Memorandum
Property Highlights
- CREDIT TENANT: CORPORATE GUARANTEE FROM WALGREENS (NYSE: WBA)
- LONG LEASE TERM: 8+ YEARS REMAINING ON PRIMARY LEASE TERM WITH 10, FIVE YEAR RENEWAL OPTIONS
- WALGREENS HAS BEEN OPERATING AT THIS LOCATION SINCE 2003
- ABSOLUTE TRIPLE NET (NNN) LEASE. TENANT IS RESPONSIBLE FOR ALL EXPENSES INCLUDING ROOF AND STRUCTURE
- SALT LAKE MSA: LOCATED IN THE FASTEST GROWING SUBMARKET IN THE UNITED STATES
- HARD SIGNALIZED CORNER: STRATEGIC LOCATION IN A DENSE RETAIL CORRIDOR
- EXCELLENT DEMOGRAPHICS: $118,797 AVERAGE HOUSEHOLD INCOME (3-MILE RADIUS)
- MOUNTAIN VIEW VILLAGE: NEW 85-ACRE, 1,000,000 SQUARE FOOT RETAIL, RESTAURANT, OFFICE, GYM, THEATRE, AND HOTEL DESTINATION BY CENTERCAL PROPERTIES (UNDER CONSTRUCTION)
- TRAFFIC COUNTS: UTAH 71 (W 12600 S) AND REDWOOD ROAD: 27,000 VEHICLES PER DAY
- Price: $6,416,000
- Lot Size: 1.71
- Cap Rate: 6.00%
- Lease Type: Absolute Triple Net (NNN)
- Year Built: 2003
- Building SF: 14,490
- Status: Sold
- Guarantor: Corporate