Walgreens | Charlotte MSA

Investment Highlights

11 YEAR NNN LEASE WITH RARE 5% BUMPS IN THE INITIAL TERM
• 15,120 SF Walgreens with a drive thru that has been operating successfully at this location since 2002.
• The subject property has 11 years remaining on a corporate guaranteed NNN Lease with 5% increases in initial lease terms.
• The original 25 Year lease commenced in January 2002 with a 2027 expiration date. However, in 2021, Walgreens exercised an early lease extension through May 2036.
• Walgreens has twelve, 5 Year options with 5% increases every 5 years.
• The Tenant is 100% responsible for all expenses including taxes, insurance, CAM, roof, and structure.

CHARLOTTE MSA | LARGEST CITY IN NC
• Charlotte is the most populous city in North Carolina and the second most populous city in the southeast.
• Charlotte is the third fastest growing major city in the US and is the home to multiple Fortune 500 companies, including Bank of America, Truist, Lowe’s Home Improvement and Honeywell.
• The city is home to the Carolina Panthers, the Charlotte Hornets, the NASCAR Hall of Fame, and the U.S. National Whitewater Center.
• Home to multiple colleges and universities including Central Piedmont Community College which is the largest community college in the Carolinas with over 70,000 students.
• Charlotte Douglas International Airport is ranked the fifth busiest airport in the nation.

HIGH TRAFFIC HARD CORNER (50K VPD) ACROSS FROM WALMART NEIGHBORHOOD MARKET
• Positioned at the signalized intersection of Spring Rd (31,370 VPD) and McDonald Pkwy (14,500 VPD).
• The subject property is across from a Walmart Neighborhood Market, Sheetz, Starbucks, Arby’s, and many more.

HICKORY NC | FURNITURE CAPITAL OF THE WORLD
• Hickory is located in western North Carolina and is part of the Charlotte metropolitan area. It is known as a hub for furniture manufacturing and innovation.
• Hickory is known as the “Furniture Capital of the World” and the furniture sector contributing over $1.6 billion and employing over 11,000 people.
• Home to multiple colleges and universities, including Lenoir-Rhyne University (approximately 2,300 students) and Catawba Valley Community College (over 4,500 students).

WALGREENS | 8,700 LOCATIONS IN ALL 50 STATES
• Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the U.S. and Europe with 8,700+ stores in all 50 states.
• Walgreens is publicly traded (WBA: NYSE) with a net worth in excess of $9.60 billion.