Description
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, newly constructed, investment grade (S&P: BBB), drive-thru equipped, Walgreens investment property located in West Liberty, KY. The tenant, Walgreen Co., recently signed a brand new 10-year lease with 4 (5-year) option periods, demonstrating their long-term commitment to the site. The lease features a 5% rental increase starting year 6, followed by 7.50% rental increases at the beginning of each option (see rent roll), growing NOI and hedging against inflation. The lease is signed by the corporate entity (S&P: BBB), and is NNN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. The offering presents the opportunity to purchase one of Walgreens’ brand new "small format" pharmacies, a store that will have a health and wellness focus on the location’s front end.