SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Walgreens investment property located in Green Bay, Wisconsin. The tenant currently has less than 3 years remaining on their initial lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease is a NN with landlord responsibilities limited to exterior and structural portions of the building, roof, and to pipes, ducts, and wires making it an ideal, low-management investment opportunity for a passive investor. Founded in 1901, Walgreens (www.walgreens.com) proudly serves more than 9 million customers and patients each day across its nearly 8,000 stores throughout the U.S. and Puerto Rico.
The subject property is located at the signalized, hard corner intersection of University Ave and N Danz Ave which combined average 27,100 VPD. The site benefits from nearby direct on/off ramp access to Interstate 43, a major thoroughfare that averages 43,600 vehicles passing by daily. The asset is ideally located in a dense retail corridor, with numerous nearby national/credit tenants including McDonald’s, Taco Bell, Burger King, Wendy’s, A&W, FedEx, Dairy Queen and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by a population of over 124,000 and 103,000 employees, providing a direct consumer base from which to draw. The average household income in the 5-mile trade area is $89,745.