Walgreens

Long-Term Corporate Lease With Built-In Growth: Walgreens Co., recently acquired by Sycamore Partners and taken private, has executed a 15-year lease featuring rare 5% rental escalations. The lease offers over ±12.5 years of remaining primary term, along with multiple extension options, providing long-term income visibility.
Absolute NNN Lease Structure: The lease is structured as absolute NNN, with zero landlord responsibilities, delivering truly passive ownership, predictable cash flow, and minimal management requirements.
Strong Visibility And Traffic Counts: Positioned on a hard corner at San Pablo Avenue and Laurie Lane at the primary entrance to the College Center shopping center, the property benefits from excellent exposure to approximately ±21,000 vehicles per day.
Dense Retail Synergy And Established Trade Area: The Walgreens is outparceled to the College Center shopping center, which includes national and regional tenants such as Starbucks, San Pablo Super Market, AutoZone, and numerous dining establishments. The property is also proximate to major retail hubs including Hilltop Plaza (246,000 SF), Pinole Vista Crossing (426,000 SF), and Pinole Vista Shopping Center (267,000 SF).
Essential, Recession-Resilient Tenant: Walgreens has demonstrated long-term operational resilience through multiple economic cycles, including the COVID-19 pandemic, supported by its necessity-based retail model.
Strong And Affluent Demographics: Located within the San Francisco Bay Area, the property serves a dense trade area of more than 234,000 residents with an average household income of $131,830.

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David Harrington