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| Walgreens |
308 E. Perkins Street, Ukiah, California
Purchase Price: $6,750,000
• Twenty-five (25) Year Primary Lease
• Absolute Net Ground Lease (No Landlord Responsabilities)
• Ten (10) x 5-year renewal options at the same rent.
Land Area: ± 1.65, Building Area: ± 14,820 SF
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Willis Ventures is excited to announce that our brokerage has closed escrow on a Walgreens in Ukiah, California. The property sold for $6,750,000 with a 6.00% capitalization rate.
Walgreens is a national retail pharmacy chain considered to be the leader in innovative drugstore retailing. Walgreens Company’s primary business is the operation of retail drugstores. The Company opersates nearly 5,251 stores in 45 states and Puerto Rico and has three mail service facilities. Prescription drugs account for nearly 64% of sales; the rest comes from general merchandise, over-the-counter medications, cosmetics, and groceries. To support store expansion, the Company opened four distribution centers over the course of the past three years.
This is a newly constructed Walgreens store located in the Northeren California city of Ukiah. Ukiah is the county seat of Mendocino county, and sits in the heart of the county and parts of Lake and Sonoma counties. The subject property sits on the NWC of the signalized intersection of East Perkins Street and Hospital Drive, approx. 4/10 of a mile west of Highway 101 into downtown Ukiah. Bewtween the Walgreens and Highway 101 are Albertsons, Homwe Depot, Mervyns, JC Penney, Ross, Big 5, Wendy’s, Starbucks, McDonald’s and Fidelity Tires.
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