Asking Price
Area Size
NOI Net Operating Income
Cap Rate

Documents

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Key facts

Year Built 2009
Building Area Net

Property description

Broker of Record: John Linell -- Massachusetts License No. 9​0​5​1​2​0​1


Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the fee-simple interest in a two-story commercial building fully leased to Walgreens (the “Property”). Walgreen Eastern Co. (“the Tenant”) opened for business at the site in 2009 and has over 12.5 years remaining in their original 25-year term.  The absolute triple-net lease provides a truly passive income structure with zero landlord responsibilities. The Property features frontage and access to its 21-space parking lot along Main and Summer  streets (±20,200 VPD). While Walgreens closed operations at this location in 2015 following a shift in retail strategy, this Property offers a rare opportunity to acquire a newly renovated primary care/retail space in an affluent  ($135,000 average HH income) Boston suburb with over 12 years of corporately guaranteed cash flow.

Investment highlights

  • Absolute NNN lease structure with zero landlord responsibilities
  • Investment-grade (S&P 'BBB') tenancy from Walgreens
  • 12.5 years of term remaining with corporately guaranteed cash flow
  • Densely populated, affluent Boston suburb ($205,000 average HH income in 5 mile radius)
  • Located down the street from multi-million dollar Mill & Main office campus renovation
Last Updated Date: 08 Apr 2022

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Last Updated Date: 08 Apr 2022

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