Lenoir City, TN
INVESTMENT GRADE CREDIT TENANT
The Lease is guaranteed by The Walgreens Company, an investment grade, net lease tenant with outstanding corporate financials (S&P ‘BBB’ Credit Rating). Walgreens is an industry leader in the retail pharmacy industry with over 9,500 locations throughout the United States.
RARE/EARLY LEASE EXTENSION
Walgreens extended the Lease until 2030, showing a rare commitment to the location. Additionally, the Lease includes six (6), five (5) Year Tenant options to renew, extending the total term to 2070.
DENSE TENANT-MIX WITHIN CLOSE PROXIMITY TO SUBJECT WALGREENS
Tenants in the immediate area include Sonic, BB&T, Wendy’s, McDonald’s, ALDI, NAPA, Big Lots, Arby’s, Advance Auto Parts, Subway, Tractor Supply, O’Reilly, Hardee’s, Taco Bell, Meineke, Valvoline, AutoZone, Gold’s Gym, Dollar General Market, Sherwin-Williams, Burger King, Domino’s, Boost, Home Depot, Walmart Supercenter, Firehouse Subs, Mobil, KFC, Starbucks, UPS, and many more.
With over 9 Years remaining on the current term, the property possesses ideal net lease fundamentals, highlighted by a long-term NNN lease structure.
SUPERB LOCATION, EXCELLENT VISIBILITY, & INCOME-TAX FREE STATE
Subject Walgreens is situated on the main retail artery of Lenoir City, Tennessee, boasts excellent visibility off US-321 (±26,000 VPD), & is out-parceled to the newly developed Ingles Shopping Center, which is a ±95,000 Sq. Ft., Fully Occupied Neighborhood Center, a main traffic driver in the area.