Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Attributes

Lease Type NNN
Current / Passing Rent
Lease Expiration 2031-12-31
Remaining Term 11 years, 3 months
Tenant Walgreens Eastern Co
Guarantor Walgreens Company
Building Area

Property Description

JLL is pleased to offer for sale the condo interest in a single-tenant Walgreens (the “Property” or “Asset”) in Westford, Massachusetts. The Property is situated along Massachusetts Route 110 (Littleton Road) within the most dense retail corridor of the community. With a large office complex to the east housing many national tenants and the surrounding affluent population base, the Property gets exceptional exposure and traffic from economic drivers. Their 2019 sales figures, over $2.76 million, is a testament to that fact, as that is well over the national average for Walgreens reported sales. The unique condo structure offers a one acre common area with 41 parking spaces and the deal allows investors to collect completely passive income with an investment grade tenant on a long-term lease.

Investment Highlights

  • Absolute NNN condo deal structure
  • Premier positioning in the marketplace - competition in-line with no drive-thru
  • Affluent and growing surrounding demographic base
  • Adjacent to the largest office park in Westford
  • Strong store sales
  • Just off I-495 on Littleton Road
Last Updated Date: 01 Jul 2020
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
License details
IL - 475.170243
Eric Suffoletto
Eric Suffoletto
Senior Director, Capital Markets
License details
IL-475.14702

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Last Updated Date: 01 Jul 2020

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