SOLD – Walgreens (Peoria, AZ)

Overview

• Net Lease Walgreens built in 1997 located in Phoenix, AZ (MSA)
• Stable cash flow from investment-grade rated tenant,S&P: BBB
• Signalized, corner site in superior submarket; more than 124,000 people living within three miles of the store
• High traffic count, 45,000+ vehicles per day
• Asset is offered free and clear of existing debt
• High yield opportunity: asking price based on an 8.75% cap rate