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Walgreens – New England

25 Main St, Bristol, Connecticut, USA Map
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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

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  • 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.

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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