Walgreens – New England
25 Main St, Bristol, Connecticut, USA Map
Absolute NNN - 13-Year Lease - Bristol, CT (Home to ESPN)
Listing Price $7,865,000
| Status | Closed |
| Lease Type | Absolute Net |
| CAP Rate | 6.25% |
| GLA (Sq. Ft.) | 16,120 |
| NOI | $491,575 |
| Lease Term Remaining | 12.5 Years |
| Increases | None |
| Options | Ten, 5-Year Options |
| State (BOR) | CT |
| Broker of Record | John Krueger |
| License # (BOR) | Lic. # REB.0752012 |
| Close Date | Dec 15, 2020 |
Investment Highlights
- Absolute NNN Lease – Absolutely Zero Landlord Responsibility
- Subject Property Situated on Prime Signalized Corner with Strong Combined Traffic of 20,600 VPD
- Bristol CT is Home to ESPN, the City’s Largest Taxpayer and Employer, ESPN World HQs and Studios are Situated on a 700-Acre Campus
- A 13-Year Lease with Corporate Guarantee with Investment-Grade Tenant Walgreens Boots Alliance (NASDAQ: WBA), The Nations Largest Drugstore Chain with Current B1 Credit Rating (Source Creditntell, 2002)
- Surrounded by National Tenants Including Subway, Family Dollar, 7-Eleven, McDonald’s, USPS, CVS/Pharmacy, BP Gas, Burger King, Pizza Hut, and More
Investment Overview
Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% fee simple interest in the single-tenant Walgreens retail property located at 25 Main Street, Bristol CT 06010 (the “Property”). Build-to-suit for Walgreens in 2008, the Property comprises a +/- 16,120 SF building on an active +/- 1.55-acre parcel, that is strategically positioned along Main Street and South Street with over 20,000 vehicles per day, the location further benefits from its proximity to Bristol Health’s Nearby 15-Acre Development, and only 1-mile away, Bristol Hospital.
