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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 5.5 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.
- Phoenix MSA is the fastest-growing large U.S. metro
- National investment-grade pharmacy tenant
- 5.5-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