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

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. 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
Tenure Type Freehold
Building Area
Land Area ()

Property Description

JLL is pleased to offer for sale the fee-simple interest in a freestanding, single-tenant Walgreens located in Johnston, Iowa. This asset features an investment grade corporate guaranty from Walgreen Co. (S&P: ‘BBB’) and is operating on a newly-extended NNN lease with 15 years remaining, zero landlord responsibilities, and five percent rental increases every five years throughout the primary term and renewal options. Walgreens has a proven commitment to the site with nearly 20 years of operating history. This offering presents the opportunity to acquire a property leased to an industry leading and investment grade tenant within the fastest-growing major metro area in the Midwest.

Investment Highlights

• New 15-year lease extension with rare 5% rental escalations

• Located in the fastest growing major metro area in the Midwest

• Over 137,000 residents earning an average annual household income of $100,000 within five miles

• Full-service Walgreens with drive-thru pharmacy and 20-year operating history

Last Updated Date: 26 Nov 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

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Last Updated Date: 26 Nov 2020

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