Walgreens: Randallstown, MD
Retail | 6.45% CAP | 14,448 SqFt
Marketing description
CBRE is pleased to exclusively offer for sale the 14,448-square-foot Walgreens situated on 2.26 acres in Randallstown, MD - a component of the Baltimore-Columbia-Towson, MD MSA (Population: 2.87M+). Walgreens’ NNN lease commenced in November 2023 and features ±12.8 years of term remaining with 5% rent increases every 5 years throughout the term and in each of the twelve 5-year renewal options.
Investment highlights
EXCELLENT ACCESS & VISIBILITY: Positioned less than 11 miles northwest of downtown Baltimore, Walgreens is located with excellent access along Liberty Road (22,173 VPD), just feet from its intersection with Offutt Road (7,674 VPD) and roughly 3.3 miles northwest of Interstate 695 (199,882 VPD).
STRATEGIC LOCATION: Walgreens is immediately adjacent to 7-Eleven and is across from Advance Auto Parts. The property is within feet of the 113,516-square-foot Randallstown Plaza Shopping Center, which is home to Family Dollar, Subway, HHT Fitness, Davita Dialysis and Randallstown Dental Studio, among others. Additionally, Walgreens benefits from its position 1.5 miles northwest of the 210-bed Northwest Hospital.
RETAIL & COMMERCIAL CORRIDOR: Walgreens is within Randallstown’s primary retail and commercial corridor with 9.4 MSF of retail, 10.7 MSF of office, 2.8 MSF of industrial, and 27,990 multifamily units within a 5-mile radius of the site. Additional retailers in the area include Walmart Supercenter, The Home Depot, Food Lion, Marshalls, ALDI, AutoZone, multiple car dealerships (Ford, Mitsubishi), Dollar Tree, IHOP, McDonald’s, Popeyes, Checkers and Wendy’s.
PROXIMATE TO A LARGE STUDENT BODY: The site is surrounded by a large student body, with over 3,750 students within 2.5 miles across schools like Randallstown Elementary, Church Lane Elementary, Winfield Elementary, Hernwood Elementary, Scotts Branch Elementary, Windsor Mill Middle and Randallstown High School, among others.
BALTIMORE-COLUMBIA-TOWSON, MD MSA ADVANTAGE: The Baltimore-Columbia-Towson, MD Metropolitan Statistical Area (MSA Population: 2.87M+) serves as the largest urban area in the state of Maryland. The area is known for its strong presence in industries such as healthcare, education, government, finance, and technology. Major employers include Johns Hopkins University & Medicine, the federal government, the University of Maryland Medical System, and Northrop Grumman Corporation. The MSA also has a thriving port and is a hub for logistics and transportation.
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