NNN – Walgreens – Gilbert, Arizona

Read more about this closed sale here.

General Description

This investment opportunity is a Walgreens on a long term ground lease. The 15,120 sq. ft. freestanding retail building benefits from is excellent visibility on the corner of highly traveled Higley & Guadalupe. This leasehold interest investment (improvements only) has 5+ years remaining of fixed term. The ground lease is co-terminus with the total lease term of the Walgreens lease, including all option periods. The store reports exceptional sale volume and has operated at this location for a number of years.

Market Overview

This is a high growth trade area with over 2,200 homes under construction in a 1-mile radius of the site. Not only has the population nearly doubled in the area over the last 10 years, but this rate of growth is expected to continue over the next 10. Located 1 mile east from Westcor’s Gilbert Crossroads, Wal-Mart & Sam’s Club. Bound by the planned San Tan Freeway, 1 mile to the east and 1.5 miles to the north, this property benefits from great freeway access.

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