NN Walgreens is a 13,905 SF single tenant asset located in Riverview, MI. NN Walgreens is currently 100% occupied with 11.5 years remaining on a corporate lease. The property is located in a prime location surrounded by major retailers (Lowe's, Meijer's and Kroger marketplace scheduled to open 4th quarter 2017). The high trafficked corridor has approximately 50,000 CPD and directly adjacent to Riverview Co-op Apartments, a 12 story, 171 unit Senior Living Community. Traffic in the retail trade area is projected to increase with the current development of the new Kroger Marketplace directly across Pennsylvania Rd. The nation’s #1 drugstore chain, Walgreens, operates close to 8,300 stores in all 50 US states, the District of Columbia, the Virgin Islands and Puerto Rico. Prescription drugs are the focus of the company as they account for close to two-thirds of sales; the rest comes from general merchandise, over-the-counter medications, cosmetics, and groceries. Most locations offer drive-through pharmacies and one-hour photo processing, which separates them from competition. Recently, Walgreen Co. fully acquired Alliance Boots, Europe’s leading drug wholesaler, to create Walgreens Boots Alliance, of which it is a subsidiary. Attractive in-place financing with a rare opportunity to own a Walgreens investment for a low $1.2MM equity requirement.
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Retail Space
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