Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

Enter the "Deal room" for exclusive documents related to this property.

I accept the confidentiality agreement

You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

I accept the confidentiality agreement

You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2001
Building Area
Land Area

Property Description

JLL is pleased to exclusively offer the opportunity to acquire a fee simple, Absolute NNN-leased Walgreens in Glendale, AZ in the Phoenix MSA. The property is ideally positioned on a 2.19-acre parcel at the signalized intersection of N 67th Avenue and Olive Avenue, seeing over 50,000 VPD. Walgreens, an investment-grade tenant (S&P: ‘BBB/Stable’), has occupied the property since 2001 with multiple lease renewals, indicating a commitment to the site.

The tenant has 6 years remaining on the primary term of the lease and remains open as an essential retailer, heavily relied on within the Glendale community. This offering presents the rare opportunity for an investor to acquire a well-positioned Walgreens in the fastest-growing large MSA in the United States, with a recent lease extension of 5 years, and dense surrounding demographics in Glendale, AZ.

Investment Highlights

  • Phoenix MSA is the fastest-growing large U.S. metro
  • National investment-grade pharmacy tenant
  • 6-year absolute net lease structure
  • 20-year site operating history with strong unit performance
  • Signalized intersection with over 50,000 VPD
  • Over 424,000 residents within a 5-mile radius
  • Glendale is the 6th largest city in Arizona
Last Updated Date: 25 Sep 2020
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
License details
IL - 475.170243
Alex Geanakos
Alex Geanakos
Director, Capital Markets
License details
475.189621

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Last Updated Date: 25 Sep 2020

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.