About the Investment
– NN with original 68 year term and 5.2 years remaining before their first option
– Brand new roof replaced in 2021
– Corporate Guarantee from Walgreens Boots Alliance (S&P: BBB)
– Location: Prime Corner of Natural Bridge Road and Lucas-Hunt Road
– Parking: ninety four (94) parking spaces
– Landlord is responsible for roof, structure, and parking lot
About the Location
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– St. Louis is the second largest city in Missouri
– Natural Bridge Road is a major thoroughfare with over 21,000 vehicles per day
– Less than one mile from University of Missouri-St. Louis with 16,719 students
– Strong retail corridor
– Nearby businesses include: McDonald’s, IMO’s Pizza, Wingstop, O’Reilly Auto Parts, CitiTrends, Glen Echo Country Club, St. Louis County Library, and many more
– Population: 14,732 in 1 mile radius and 114,589 in 3 mile radius
– Median Income: $38,608
About the Tenant
– Walgreens is the #18 ranked Fortune 500 company for 2022
– Second-largest pharmacy store chain in the USA
– 2022 Revenue exceeded $132B
– Over 8,800 locations
Genoveva Ciornei
Licensed Associate Real Estate Salesperson