Walgreens For Sale by The Boulder Group Date October 27, 2016
The Boulder Group is pleased to exclusively market a single tenant net leased Walgreens for sale located Toledo, Ohio. The property is strategically located in the heavily trafficked signalized intersection of State Route 51 and Secor Road. Secor Road has a direct interchange with Interstate 475 less than a quarter mile from the property. This 24 hour store has approximately 11 years remaining on the Walgreens lease which expires December 31, 2027. This absolute triple net lease features no landlord responsibilities and ten 5-year renewal option periods.
The 13,125 square foot Walgreens is strategically positioned on the northeast corner of Secor Road and State Route 51 (Monroe Road) in the city of Toledo. This intersection experiences traffic counts in excess of 60,000 vehicles per day. State Route 51 is the primary northwest-southeast roadway in the trade area. The Walgreens is located one block north of Interstate 475, with easy interchange access. Interstate 475 experiences traffic counts in excess of 82,000 vehicles per day. The property is located across the street immediately to the northwest of a Kroger and Best Buy anchored shopping center. Additional retailers located in the surrounding trade area include the Franklin Park Mall (Apple, Dick’s Sporting Goods, Macy’s, Dillard’s, and JCPenney), Costco, Home Depot and Kohl’s. There are approximately 235,000 people living within a five mile radius of the property.
The Walgreens is strategically located in close proximity to several of Toledo’s largest and most important hospitals and schools. Mercy St. Anne Hospital is located approximately one-half mile west of the property. Notre Dame Academy, a prominent all-girls’ high school, and Discovery Academy, K-6, are on the southwest corner to the Walgreens.
Walgreens is the largest drug retailing chain in the United States and has over 8,100 locations in the U.S.A. Walgreens is publicly traded on the New York Stock Exchange (WBA) with a market capitalization in excess of $90 billion. Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment grade rated each with a Standard & Poor’s rating of BBB.
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