Long-Term Lease: +/- 19 years remaining on Walgreens' base term with 45 years of options thereafter.
Absolute NNN Lease: Opportunity to purchase a Walgreens with absolutely no landlord maintenance.
Very Strong Demographics: The Property offers very strong demographics with a 3-mile population of over 100,000 and a 5-mile of over 319,500. Average household income for both the 3- and 5-mile radii is approximately $95,000. The Property is situated on a hard corner, lighted intersection of Louisiana State Route 90 and traffic of over 35,000 vehicles per day.
Investment Grade Credit: Walgreens (NASDAQ: WBA, S&P: BBB/Stable) is the largest drugstore chain in the US, reporting 2023 sales of over $139 billion.
New Orleans MSA: The Property is located in Jefferson, LA, within the New Orleans MSA. New Orleans is the 45th largest MSA in the US with a population of over 1,270,000.
Proximity to Ochsner Medical Center: The Property is located 2 miles from the Ochsner Medical Center, part of the Ochsner Health System. It provides medical service to the Gulf South region and attracts patients nationwide due to their world-class, innovative programs.