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

Documents

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I accept the confidentiality agreement I accept the confidentiality agreement
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

Lease Type NNN
Current / Passing Rent
Lease Expiration 2031-12-31
Remaining Term 11 years, 2 months
Tenant Walgreens Eastern Co
Guarantor Walgreens Company
Building Area

Property Description

JLL is pleased to offer for sale the condominium interest in a single-tenant Walgreens in Westford, Massachusetts. Located only 1,500 feet from the I-495 on-ramp, the property is situated in a dense commercial corridor featuring a high school, 400+ hotel rooms, 635,000 square feet of retail space and a large office complex with major national tenants all within a 1-mile radius.

The property receives exceptional exposure and traffic from this sizable daytime population and in 2019, generated $2.8 million in sales (~$185 PSF), a figure well over the national average for Walgreens reported sales. Buoyed by strong sales and a track record of success dating back to 2007, this opportunity presents over 11-years of fixed triple net lease term guaranteed by Walgreen’s investment grade credit. Interested investors have the chance to buy into a highly connected and growing market featuring the potential for 60+ years of term from one of the world’s largest and most dynamic companies.

Investment Highlights

  • 11-year NNN lease guaranteed by Walgreen's investment grade credit
  • Located immediately off I-495 (105,000 VPD) on Route 110 (19,000+ VPD)
  • Situated in center of an affluent and growing demographic base boasting AHHI of $180,000
  • Surrounded by largest office park in Westford and numerous retail centers
  • Premier positioning in the marketplace - only proximate competition is in-line with no drive-thru
  • Strong 2019 store sales of $2.8 million ($185 PSF)
Last Updated Date: 14 Oct 2020
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
License details
IL - 475.170243
Eric Suffoletto
Eric Suffoletto
Senior Director, Capital Markets
License details
IL-475.14702

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Last Updated Date: 14 Oct 2020

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