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|Current / Passing Rent||
|Remaining Term||10 years, 11 months|
|Tenant||Walgreens Eastern Co|
JLL is pleased to offer for sale the condominium interest in a single-tenant Walgreens in Westford, Massachusetts. Located only 1,500 feet from the I-495 on-ramp, the property is situated in a dense commercial corridor featuring a high school, 400+ hotel rooms, 635,000 square feet of retail space and a large office complex with major national tenants all within a 1-mile radius.
The property receives exceptional exposure and traffic from this sizable daytime population and in 2019, generated $2.8 million in sales (~$185 PSF), a figure well over the national average for Walgreens reported sales. Buoyed by strong sales and a track record of success dating back to 2007, this opportunity presents over 11-years of fixed triple net lease term guaranteed by Walgreen’s investment grade credit. Interested investors have the chance to buy into a highly connected and growing market featuring the potential for 60+ years of term from one of the world’s largest and most dynamic companies.
- 11-year NNN lease guaranteed by Walgreen's investment grade credit
- Located immediately off I-495 (105,000 VPD) on Route 110 (19,000+ VPD)
- Situated in center of an affluent and growing demographic base boasting AHHI of $180,000
- Surrounded by largest office park in Westford and numerous retail centers
- Premier positioning in the marketplace - only proximate competition is in-line with no drive-thru
- Strong 2019 store sales of $2.8 million ($185 PSF)