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JLL is pleased to offer for sale the fee-simple interest in a freestanding, single-tenant Walgreens (the property) located in Lancaster, South Carolina. Walgreens has operated at this property since 2006 and is signing a new 15-year lease extension that features zero landlord responsibilities and five percent rental increases throughout the primary term and in each of the 12, five-year renewal options.
The property sits at the hard corner and signalized intersection of Highway 9 and Gillsbrook Road within a highly trafficked retail thoroughfare that features national tenants such as Walmart, Home Depot, ALDI, Harbor Freight, and Big Lots. This offering presents the opportunity to acquire a high performing Walgreens Property on a newly-extended absolute NNN lease and an investment grade guaranty.
- New 15-year lease renewal
- Absolute NNN with zero landlord responsibilities
- 5% rental increases every 5 years throughout the primary term and renewal options
- Investment grade corporate guaranty (S&P: 'BBB')
- Located in Charlotte MSA (40 miles south of downtown Charlotte)