Walgreens

1180 French Rd, Cheektowaga, NY
Deal Type:
Net Lease
Price:
$4,547,000
Cap Rate:
5.60%
Current Rent:
$254,625
Lease Type:
Triple Net
Lease Term:
15 years
Landlord Responsibilities:
None
Renewal Options:
12, Five year
Building Sq. Ft.:
13,241 SF
Rent Increases:
5% every 5 years including options
Site Size:
2.29 Acre

Investment Highlights

  • Walgreens just signed a new 15 year NNN lease with extremely rare 5% rent increases every 5 years throughout the entire term of the lease
  • Allows for a true, passive investment with no management required
  • The property is located in Erie County, where the 240-acre Renaissance Commerce Park is being developed along with a new Buffalo Bills Stadium.
  • Property located on a large 2.29 parcel at a signalized intersection, seeing more than 25,300 vehicles per day.
  • Densely populated area with a population of over 161,000 people in a 5-mile and 630,000 in a 10-mile radius
  • Walgreens Boots Alliance Inc (NASDAQ:WBA) is an investment grade tenant (S&P: BBB)

Listing Agents

Connor Shell

Managing Director
407 913 9009
[email protected]

Dorothy Lee, CCIM

Vice President
626 236 3823
[email protected]

Jordan Shtulman

Managing Principal
847 226 4133
[email protected]

Broker of Record: Mike Antonoplos, Lic. #NY-109923763

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