NNN Walgreens - Newest Small-Format Prototype
For sale to qualified investors is the fee simple interest in a brand-new corporate lease with Walgreen Co. in Hagerstown, Maryland. The new building was completed in June 2022 and is the newest small-format drive-thru prototype for the company. This modern store design allows Walgreens to cater to their main customers while selling only their highest margin items and focus primarily on prescriptions and over-the-counter medication. The lease is triple net and features a firm, corporately-guaranteed 10-year initial lease term with options. The property is located less than one block from Volvo’s Diesel Engine manufacturing facility with over 1,500 on-site employees. Just north is the Hagerstown Regional Airport, which serves metro population of over 250,000 people. A commerce and transportation hub in its own right, Hagerstown is only 30 miles from greater Washington D.C., which provides daily exchange of workforce and commerce between the two cities. From a long-term investment perspective this asset “checks all of the boxes” with a modern, small drive-thru format, hand’s-off corporate lease, heavy daytime employees surrounded by a growing economy, and synergy with Washington D.C.