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| Walgreens |
Norfolk St & Arapahoe Rd, Denver (Foxfield), Colorado
Purchase Price: $6,600,000
• Twenty-Five (25) year primary lease
• Absolute NNN (Triple Net Lease)
• Ten (10) 5-year options (Same Rent)
Land Area: ± 2.07, Building Area: ± 14,490 SF |
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Willis Ventures is excited to announce that our brokerage has closed escrow on a Walgreens in Foxfield, Colorado. The property sold for $6,600,000 with a 6.06% capitalization rate.
Walgreen Co. (NYSE: WAG), d/b/a Walgreens (without an apostrophe), is a pharmacy chain, mail service pharmacy, pharmacy benefit manager (PBM), and specialty pharmacy which has operations throughout the continental United States and Puerto Rico. There are more than 5,700 Walgreens in operation with a current goal to have 7,000 stores by 2010. Of the 5,700+ Walgreens locations, about 2,000 of them are open 24-hours, including the pharmacy. Over 4 million customers are served by Walgreens daily chain-wide and over 500 million prescription scripts are filled anually. Walgreens was founded in Chicago, Illinois, in 1901 and has since expanded throughout the United States. Its headquarters is located in Deerfield, Illinois, a suburb of Chicago.
The subject property is located in Foxfield, Colorado. Foxfield is an afluent southeastern suburb of Denver and is located 21 miles southeast of downtown. Some of the other national tenants in the surrounding area include: King Soopers, Circle K, Kohl’s, Marshall’s, Wal-Mart, Old Navy, IHOP, Borders Books, Applebee’s, Chili’s, Old Chicago, Cold Stone, Sonic, and TGI Friday’s.
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