Walgreens

The offering presents the opportunity to acquire an absolute NNN Walgreens in Portland’s densely populated and affluent Ash Creek neighborhood.​ Constructed in 2012, the building is 13,300 SF situated on 36,162 SF of commercially zoned land.​ The current lease runs through December 31, 2037, with options for termination after that.​ If not terminated, the lease will extend through 12/31/2087.​ The Property is situated on a hard corner at the confluence of two main retail thoroughfares of Barbur Blvd (Capitol Highway) and Interstate 5, with approximately 121,000+ VPD.​ Barbur Blvd is a dense retail corridor with high barriers to entry sandwiched between several upscale residential neighborhoods with incomes exceeding $135K.​ Please follow this link for more information: https://bit.​ly/3VjfUYa

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  ABSOLUTE NNN LEASE: Walgreens is fully responsible for the upkeep of the roof, structure, and parking, allowing for no landlord responsibilities.

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  RETAIL CORRIDOR: Barbur Blvd is the only commercially zoned land within the surrounding area. All existing commercially zoned land is built up, limiting the threat of future competition and helping insulate this Walgreens within the trade area.

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  HARD CORNER LOCATION: Located at the intersection of Capitol Highway and Interstate 5 with convenient access to multiple transportation networks, the Property is exposed to over 121,000 VPD. This location is less than 2 minutes from Barbur Boulevard Transit Center and Park and Ride.

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  ATTRACTIVE AREA DEMOGRAPHICS: There are 330k+ people within a 5-mile radius with average household incomes exceeding $142k+.

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  MULTIPLE ACCESS POINTS: The Property has multiple ingress and egress points and is situated on a .83-acre lot with CM2 zoning which allows for several potential redevelopment opportunities including multifamily, retail, and office.