Net Leased Walgreens Sold

The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Walgreens property located at 315 North Webster Street in Taylorville, Illinois for $3,050,000.

The 14,550 square foot Walgreens benefits from its location at the signalized intersection of North Webster Street and West Park Street, which experiences 24,800 vehicles per day. Notable retailers nearby include Kroger, McDonald’s, Taco Bell, KFC, Wendy’s, Jimmy John’s, CVS, O’Reilly Auto Parts, AutoZone, Sherwin-Williams, Circle K, and Ace Hardware. The property is located near Taylorville Memorial Hospital and Taylorville High School. More than 14,800 people live within a five-mile radius, with an average annual household income of $76,115.

The Walgreens lease has 10 years remaining with ten 5-year renewal options. The lease is corporately guaranteed by Walgreens, which ranked #28 in the 2024 Fortune 500 list.

Randy Blankstein and John Feeney of The Boulder Group represented the seller in the transaction. The buyer is a private investor based in Illinois and the seller is a real estate investment trust based in Florida.

“Walgreens properties with recent lease extensions and long operating history continue to garner significant investor interest” said Randy Blankstein, President of The Boulder Group.  John Feeney, Senior Vice President of The Boulder Group, added, “This deal illustrates that Walgreens remains a desirable tenant to many investors despite recent challenges in the drug store sector.”

Back