(1) Rentable Area, Lot Size, Guarantor, Lease Terms, Building Specifications, Year Built, Demographics and S&P/Moody’s Ratings are estimates. Their retail pharmacies have worked to provide up-to-date information and public health guidelines to customers, and their emergency response teams across the business are actively working to find ways play a greater role in what has become a global emergency – including working with the United States federal government to expand access to COVID-19 testing. AUTHORITIES DURING THE COVID-19 PANDEMIC3Īs a global, pharmacy-led health care company, Walgreens Boots Alliance has been working to ensure the safety and well-being of their colleagues, patients and customers during the pandemic of COVID-19. UPS, Delta Airlines, Coca-Cola, and Home Depot represent a portion of the 16 companies with headquarters in the metro.ĮSSENTIAL RETAILER OPERATING AND ASSISTING U.S. Atlanta ranks as one of the nation’s top markets for Fortune 500 companies. The region has a population of roughly 6.0 million people and over the next five years is expected to add approximately 288,000 residents. Located in Jasper, 60 miles north of downtown Atlanta, the site benefits from its proximity to the economic hub of the Southeast. Walgreens Boots Alliance, Inc., the Parent Company, carries an Investment Grade Credit Rating of BBB/ Stable from S&P and Baa2/Stable from Moody’s. The Lease is guaranteed by Walgreen Co., a subsidiary of Walgreens Boots Alliance, Inc. The average household income in a one-mile radius is $77,786. The Property is located on the signalized hard corner of E Church St (Hwy 53) and Burnt Mountain Road.The site has excellent visibility in both directions. HARD CORNER LOCATION WITH EXCELLENT VISIBILITY | 16-YEAR OPERATIONAL HISTORY Finding drive-through real estate can be challenging, especially in densely built areas, because the properties need to have enough space to accommodate long lines of cars. Interest in drive-through real estate was growing even before Covid-19, but it exploded last year when total sales volume for restaurants, pharmacy and bank properties hit a record $12 billion, according to data firm CoStar Group Inc. The lease offers 5% rent increases every 5-years during the original term and the 12, five-year renewal options (if exercised) providing exceedingly more cash flow than a traditional flat Walgreens lease.Īccording to the Wall Street Journal, more companies look for properties that will allow them to serve customers in their cars. The subject property operates under a long term Absolute NNN Lease with no landlord management or maintenance responsibilities whatsoever.
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