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Walgreens, Wasilla, AK

Walgreens

Wasilla, AK

Price $11,048,000
Cap Rate 5.25% Return
NOI $580,000
Lease Term 12+ Years
Lease Type Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases Contact For Details
Year Built 2008
Building Size 14,723 SF
Lot Size 1.18 Acres (51,401 SF)
Status Available
Lead Broker Information Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

ABSOLUTE NNN LEASE TO ONE OF THE LARGEST DRUG RETAILING CHAINS IN THE UNITED STATES
» Walgreens Boots Alliance, Inc. (NASDAQ: “WBA”) is rated “BBB/Stable” by Standard & Poor’s and is ranked 16th in the Fortune 500
» Walgreens is the second-largest pharmacy store chain in the United States with over 9,000 retail locations and is proud to be a neighborhood health destination serving approximately eight million customers each day
» 12+ years remaining on absolute NNN lease with no landlord responsibilities
» Strong performing store with prescription drive-thru lane, providing additional customer convenience and boosting sales revenue
» Alaska is an income tax free state

LOCATED IN HIGHLY VISIBLE AND AFFLUENT ALASKA SUBMARKET
» Located off the signalized hard corner intersection of East Parks Highway and East Palmer-Wasilla Highway (54,134 AADT)
» $101,565 average annual household income within five miles of the location
» 41,578 residents live within a five-mile radius, providing a stable customer base
» 27 percent population increase within five miles of the site since 2010, demonstrating Wasilla’s recent rapid growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Outparcel to a Target and Michaels-anchored shopping center
» Surrounded by a strong mix of local and national retailers, including Fred Meyer, Home Depot, Sportsman’s Warehouse, Starbucks, Wells Fargo, Raising Cane’s, Burger King, AutoZone, Arby’s, and many others
» Located near several major recreational areas and lakes, including Wasilla Lake, Finger Lake State Recreation Site, and Lucile Lake
» Gateway to Anchorage, Alaska’s most populous city (contains approximately 40 percent of the state’s population)
» Only Walgreens location within 27 miles of the site



Property Description

This Walgreens is conveniently located off the signalized hard corner intersection of East Parks Highway and East Palmer-Wasilla Highway (54,134 AADT). The property is located in an affluent area, with a $101,565 average annual household income within five miles of the location. 41,578 residents live within a five-mile radius, providing a stable customer base. The property has also experienced recent rapid and sustained growth, with a 27 percent population increase within five miles of the site since 2010.

The property benefits from its central location near large employers, retailers, and community hubs. The site is outparcel to a Target and Michaels-anchored shopping center. The location is surrounded by a strong mix of local and national retailers, including Fred Meyer, Home Depot, Sportsman’s Warehouse, Starbucks, Wells Fargo, Raising Cane’s, Burger King, Arby’s, and many others. Additionally, the site is located near several major recreational areas and lakes, including Wasilla Lake, Finger Lake State Recreation Site, and Lucile Lake. The property serves as a common gateway to Anchorage, Alaska’s most populous city (contains approximately 40 percent of the state’s population) and is the only Walgreens location within 27 miles of the site.

Contact Us About This Property

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