WALGREENS RECENTLY RENEWED LEASE EARLY • The subject property is 6,732 SF Walgreens that sits on 0.58 acres in Colquitt, GA. • This has been a drug store location for over 20 years and Walgreens recently exercised a 5-year option early demonstrating their commitment to the location. • There are approximately 7.5 years remaining on the current lease term with an additional 5 year option period. • Walgreens is responsible for taxes, insurance, and CAM and Landlord is responsible for roof and structure.
ATTRACTIVE LOW RENT & STRONG SALES • The current rent being paid at this location is $55,500 ($8.25% per SF) which is below market and equates to a low price point of $766,000. • This location has maintained strong store sales of over $3M for the last 5 years which equates to a very healthy rent to sales ratio of under 2%.
NO DRUG STORE COMPETITION • There are no other national pharmacies in the city of Colquitt. • The nearest Walgreens is 14 miles South of this location. • The nearest CVS is over 20 miles away from this location.
STRATEGICALLY LOCATED NEAR HOSPITAL • This Walgreens is strategically located in the center of downtown Colquitt and less than a mile from the Miller County hospital which has been in operation since1957. • Surrounding national retailers include Dollar General, Hardee’s, NAPA Auto Parts, BP, Family Dollar, Shell and others. • Colquitt is located approximately 90 miles South of Columbus, 44 miles Southwest of Albany, and 57 miles Northwest of Tallahassee, FL. • Colquitt is the county seat for Miller County and this Walgreens is situated within a five-mile radius of several government buildings.
INVESTMENT GRADE TENANT • Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the U.S. and Europe with 9,277 stores in all 50 states. • Walgreens is publicly traded (WBA: NYSE) with a market capitalization in excess of $73 billion. • Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment-grade rated each with a Standard & Poors rating of BBB.