CBRE is pleased to present a rare investment opportunity to acquire a Walgreens-occupied net lease retail property located at 963 South Military Trail in West Palm Beach, Florida. This property is positioned with excellent access and visibility at the corner of the signalized intersection of South Military Trail (48,000 VPD) and Summit Boulevard (23,800 VPD), and is 1 mile south from the on-ramp to Southern Boulevard (70,000 VPD).
The 15,034-square-foot building sits on 1.79 acres and is leased to Walgreen Co. through February 2031 with six, 5-year renewal options that are automatically renewed. Walgreens' original 20-year term was set to expire in 2019 but the lease was extended through 2031 and now has approximately 4.8 years of term remaining.
As a leading retailer and one of the largest purchasers of prescription drugs in the world, Walgreens is consistently among the largest U.S. companies by revenue and ranks #26 on the 2025 Fortune 500 list. In September 2025, Walgreens was taken private by Sycamore Partners, a private equity firm specializing in consumer and retail-related investments.