Walgreens | Lutz, FL
Retail
CORPORATE GUARANTY | INVESTMENT GRADE CREDIT (S&P: BBB) | $136.87 BILLION IN FY 2019 | 18,500+ LOCATIONS
Walgreens is a leading drug store chain with 9,277 retail store locations across the US and 18,500 retail locations worldwide. Walgreens is a household name with more than 75% of the US population living within 5 miles of one of its stores. For fiscal year 2019, Walgreens Boots Alliance, Inc. (S&P: BBB) generated revenues of approximately $136.87 billion, making it the 2nd largest drug store chain worldwide by revenue.
LONG TERM BONDABLE NNN GROUND LEASE (LEASEHOLD) | ZERO LANDLORD RESPONSIBILITIES
Walgreens signed a long-term lease in November 2014 and currently has approximately 19.4 years remaining in the primary term. The bondable triple-net (NNN) lease has zero landlord responsibilities, with the tenant being responsible
for all maintenance, repair and replacement. Under the coterminous Ground Lease, Walgreens pays Ground Rent directly to the Land (Fee) Owner and Building Rent directly to the Building (Leasehold) Owner.
TAX ADVANTAGED ZERO CASH FLOW (ZCF) OFFERING | HIGH LEVERAGE | FULLY DEPRECIABLE
The in-place ZCF loan and fully depreciable leasehold ownership interest generate annual passive losses that work to offset taxable income from other investments, thus helping to reduce an investor’s overall tax basis.
AFFLUENT FLORIDA LOCATION | NO PERSONAL INCOME TAX | HIGHLY VISIBLE & EASILY ACCESSIBLE SITE
Within 3 miles of the property, there is a population of 58,189 with average household incomes exceeding $110,000. Strategically positioned adjacent to the newly constructed Tampa Premium Outlets along State Route 56 (42,961 VPD), the property is easily accessible from Interstate 75 (135,600 VPD) with two (2) points of ingress/egress around its perimeter. Nearby retailers include Costco, HomeGoods, Hobby Lobby, ALDI, Starbucks, McDonald’s, Chick-fil-A, and many others.
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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.