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JLL is pleased to offer for sale the fee-simple interest in a freestanding, single-tenant Walgreens located in West Des Moines, Iowa. This asset features an investment grade corporate guaranty from Walgreens Boots Alliance and is operating on an absolute NNN lease with 15 years remaining. Following the initial term of the lease, Walgreens has twelve, five-year renewal options with 5% rental escalations every five years during each period. Walgreens has a proven commitment to the site with an approximately 20-year operating history and sales that are well above the national average at $3.0 million in fiscal year 2019. The Asset benefits from a drive-thru window and offers investors the opportunity to acquire an investment grade asset in the fastest growing major metro area in the Midwest.
-Long term lease to investment grade tenant with zero landlord responsibilities
-Located in the fastest growing major metro area in the Midwest
-Location commitment with rate 5% rental escalations every 5 years
-High performing full-service Walgreens with drive-thru pharmacy
-Immediate proximity to I-235 and the Des Moines CBD