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Walgreens
806 Nissan Drive, Smyrna, TN, 37167, USA
Sands Investment Group is Pleased to Exclusively Offer For Sale the Single Tenant Walgreens NNN Asset Located at the Signalized Corner of Nissan Drive and Enon Springs Road East in the Heart of Smyrna, TN (Nashville MSA). This Property Has a 13 Year Primary Term and Features Rare 5% Increases Every 5 Years Including at the Beginning of Each of the Twelve (12) Five-Year Option Periods. The Building Includes a Drive-Thru and Sits on 1.91 Acres of Land. The Lease is Guaranteed By Walgreens (S&P: BBB) and This Asset Benefits From a Destination Location as it is an Outparcel to a Walmart Supercenter. Additional Adjacent / Nearby Retailers Bringing Customers to the Location Include Dutch Bros, McDonald’s, Popeyes, Jimmy Johns, Waffle House, Pizza Hut, Sonic Burger and More.
- BEST IN CLASS INVESTMENT FEATURING ATTRACTIVE YIELD WITH RENT GROWTH
- 13-Year Primary Term With Twelve (12) 5-Year Option Periods
- Corporate Guaranteed Lease Featuring Investment Grade Credit (S&P: BBB)
- Absolute Triple Net (NNN) Lease With Zero Landlord Responsibilities and Depreciation Benefits
- Rare 5% Rental Increases Every 5-Years Throughout the Primary Term and Each of the Option Periods Providing Hedge Against Inflation
- Property Features a Drive-Thru and Large Lot (1.91 Acres)
- DAILY NEEDS & NECESSITY BASED TENANT
- Walgreens is the Second-Largest Pharmacy Store Chain the the United States
- Drug Stores Provide a “Daily Needs” For Consumers Making the Property Pandemic and Recession-Resistant
- DOMINANT SMYRNA (NASHVILLE MSA) LOCATION
- Strong Taffic Counts – Over 41,000 Vehicles Per Day Combined at the Intersection of Nissan Drive and Enon Springs Road East
- Affluent Trade Area – Over $75,000 Average Household Income Within a 5-Mile Radius
- Nashville is Ranked #5 on Southern Living’s “The South’s Best Cities 2023” (March 2023)
- The Wall Street Journal Named Nashville the Country’s “Hottest Job Market in 2022 For Regions With at Least One Million People”
- Subject Property Lies in Close Vicinity to the Nissan Smyrna Vehicle Assembly Plant, Which Boasts an Impressive Workforce of Approximately 8,000, Producing a Staggering 640,000 Vehicles Annually
- The Parcel is Strategically Located Adjacent to a Bustling Walmart Superstore; Additionally, the Locale Features a Mix of Recognized and Local Dining Outlets Including: Popeyes, McDonald’s, Sonic Burger, Jimmy Johns, Waffle House, Pizza Hut, Dutch Bros, Among Others
- Forecasts Indicate an Impressive Population Surge of Around 11.37% Over the Next 5- Years Within a 5-Mile Radius
In Cooperation With Sands Investment Group Tennessee, LLC – Lic. #263973 BoR: Tom Gorman – Lic. TN #370394
Walgreens
806 Nissan Drive, Smyrna, TN, 37167, USA
WALGREENS
Walgreens (www.walgreens.com) is included in the United States segment of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), an integrated healthcare, pharmacy and retail leader serving millions of customers and patients every day, with a 170-year heritage of caring for communities. As America’s most loved pharmacy, health and beauty company, Walgreens purpose is to champion the health and well-being of every community in America. Operating nearly 9,000 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving approximately 9 million customers each day. Walgreens Boots Alliance (NASDAQ: WBA) is a global leader in retail and wholesale pharmacy, touching millions of lives every day through dispensing and distributing medicines, its convenient retail locations, digital platforms and health and beauty products. The company has more than 100 years of trusted health care heritage and innovation in community pharmacy and pharmaceutical wholesaling. A trusted, global innovator in retail pharmacy with approximately 13,000 locations across the U.S., Europe and Latin America, WBA plays a critical role in the healthcare ecosystem. WBA’s purpose is to help people across the world lead healthier and happier lives.
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Price
$5,616,000
Cap Rate
7.00%
PREMISES
14,550 SF
RENEWAL OPTIONS
12 x 5 Year Options
Lease Expiration
8/31/2035
Lease Type
NNN
RENTAL INCREASES
5% Every 5-Years (Including Option Periods)
BROKERS
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To receive access to this OM, please review and sign our confidentiality agreement:
Sands Investment Group (“Broker”) is presenting for sale the Subject Property (“Property”) referenced above, by the Property’s owner (the “Owner”). Our agreement with the Owner requires that we obtain a Non-Disclosure before disclosing the name and location of his/her location of his/her business. The undersigned (“Recipients”) hereby acknowledge and agree that certain confidential information that has been or may be disclosed is intended solely for Recipients’ limited use in considering whether to pursue negotiations to acquire the Property.
Neither the Owner of the Property nor Broker or any of their respective officers, employees or agents, make any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential information and no legal liability is assumed or shall be implied with respect thereto. Information provided has been or will be gathered from sources that are deemed reliable; however, neither Owner nor Broker warrants or represents that the information is true or correct. Recipients are advised to verify information independently. Owner and/or Broker reserve(s) the right to change the Property’s purchase price, or any Property or market information provided, or to withdraw the Property from the market at any time without notice.
Recipients agree that the information provided by Broker is confidential and as such, agrees to hold and treat such information in the strictest of confidence. In addition, Recipients agree not to disclose, directly or indirectly, or permit anyone else to disclose this information to any person, firm or entity without prior written authorization of Owner or Broker and not use, or permit to be used this information in any fashion or manner detrimental to the interests of Owner or Broker. Photocopying or other duplication of such confidential information is strictly prohibited. Recipients agree not to contact the Property’s tenant(s), leasing brokers, or property management staff in connection with Recipients’ review of the Property or confidential information. IN ADDITION, THE CONFIDENTIAL INFORMATION SHALL NOT BE DEEMED AS REPRESENTATIVE OF THE STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OR PREPARATION OF THE OFFERING MEMORANDUM.
While Owner and/or Broker may discuss the purchase and sale of the Property with Recipients, either Owner or Broker, in our sole and absolute discretion, may terminate sale discussions at any time and for any reason. Recipients acknowledge that neither Owner nor Broker has any obligation to discuss or agree to the sale of the Property. The acquisition discussions may be lengthy and complex. Notwithstanding that the parties may reach one or more oral understandings or agreements on one or more issues, neither of the parties shall be bound by any oral agreement of any kind, and no rights, claims, obligations or liabilities of any kind, either expressed or implied, shall arise or exist in favor of or be binding upon either Owner or Broker except to the extent expressly set out in a written agreement signed by both Owner and Broker.
This letter will further confirm that Recipients understand that Broker is presenting the information on the above-referenced Property and that Recipients agree that all initial correspondence and agreements pertaining to the opportunities and subsequent purchase shall be submitted through Agent. Prospective Buyer shall not contact the Owner directly unless given written permission by Agent or act either directly, indirectly, through any third parties including affiliates, other clients or other brokers to circumvent the purpose of this Agreement.
The term of this Agreement is for one (1) year from the date below, which shall be automatically extended through any ongoing negotiations, escrow periods or closing of any purchase and sales transaction(s) for the opportunity entered into by Prospective Buyer or its affiliates during the term hereof.
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