Walgreens

Investment Overview

Jonna Group at Colliers has been selected to exclusively represent for sale the corporate Walgreens located in Port Huron, Michigan. Walgreens signed a recent 10-year lease extension showing strong conviction for the site. Walgreens is on a double-net lease with minimal landlord responsibilities. The lease features attractive six five-year options and is a fee simple offering. The 15,120-square foot property is situated on 1.60 acres and was custom built in 2000. The subject property is located in Port Huron within a neighborhood corridor. The Walgreens is located on the hard signalized corner of 10th Street (8,641 VPD) and Griswold Street (4,855 VPD) with high visibility and exposure. Several retailers in the immediate vicinity include: Kroger, Sam’s Club, Big Lots, Dollar Tree, Taco Bell, Wendy’s, Arby’s, McDonald’s, Burger King, Tim Horton’s, AutoZone and many more. The investment is adjacent to Port Huron Schools which consists of over 660 faculty and staff. The subject site is located only one half mile from numerous sandy beaches, the Blue Water River Walk and the St. Clair River, a significant and tourist area of the Great Lakes Waterway.

Investment Highlights

• 8.5 YEARS REMAINING | NET-LEASED WALGREENS
• MINIMAL LANDLORD RESPONSIBILITIES | (6) 5-YEAR OPTIONS
• WALGREENS (S&P BBB) CORPORATE GUARANTEE
• FEE SIMPLE ASSET | OFFERED FREE & CLEAR | DRIVE-THRU SITE
• CUSTOM BUILT FOR WALGREENS IN 2000
• SITUATED ON 1.60-ACRE LOT | 15,120-SQUARE FEET
• MULTIPLE POINTS OF INGRESS/EGRESS | HARD CORNER
• CURRENT RENT IN-LINE WITH MARKET AREA RENTS
• COMBINED 14,000 VEHICLES TRAVELING PER DAY AT CORRIDOR
• STRONG AND GROWING DEMOS | 54k+ PEOPLE IN 5-MILE RADIUS
• LIMITED COMPETITION | NEAREST WALGREENS 4.5 MILES AWAY
• ONE HALF MILE TO I-69 (MILITARY STREET) | 13,968 VPD
• RETAILERS IN IMMEDIATE VICINITY INCLUDE: KROGER, SAM’S CLUB, BIG LOTS, DOLLAR TREE, MCDONALD’S, BURGER KING, TACO BELL, ARBY’S, WENDY’S, TIM HORTON’S, AUTOZONE AND MORE
• MINUTES FROM PORT HURON HIGH SCHOOL | 1,365 STUDENTS
• ONE HALF MILE TO BLUE WATER RIVER WALK | TOURIST AREA
• DETROIT MSA | 4.2 MILLION PEOPLE | 14TH LARGEST IN USA