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Area Size
NOI Net Operating Income
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Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 2008
Building Area Net
Occupancy 100.0 %

Property description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire the fee-simple interest in a Walgreens located at 2585 S Church Street, in Burlington, NC (the “Property” or “Asset”). Burlington is part of Alamance County, NC and is within a 20-minute drive to Greensboro, and within a 45-minute drive to Durham-Chapel Hill-Raleigh. The Property is in the heart of Burlington’s retail trade area situated at the hard corner of Church Street and Huffman Mill Road (50,000 VPD). The Property benefits from close proximity to the Holly Hill Mall & Business Center (anchored by Publix, Dunham's Sports, and a Walmart Super Center), as well as additional surrounding national retailers in the trade area including Lowes Home Improvement, Academy Sports Taco Bell, Game Stop, Burlington, Mattress Firm, CVS, Chipotle, Panera.

The Asset recorded $3.2 million in annual sales in 2021 and serves as the primary pharmacy for Elon University (1.8 miles from Asset). Due to its success, recently executed on a brand-new absolute NNN 15-year lease with 5.0% rent bumps every 5-years. Following the 15-year in-place lease term, there are twelve (12) 5-year extension options subject to 5.0% rent increases. 


Investment highlights

  • Strong Performing Store - $3.2 Million Annual Sales YE 2021
  • Primary Pharmacy For Elon University - 1.8-miles From Campus
  • Brand New 15-Year Lease - With Rental Bumps Every 5-Years
  • Absolute NNN Lease Structure - Zero Landlord Responsibilities  
  • Main Retail Trade Area (50,000 VPD)
  • Adjacent To Holy Hill Mall (Anchored by Publix, Dunham's Sports and Walmart)
  • Investment Grade Tenancy (S&P: BBB)


Last Updated Date: 14 Jun 2022

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Last Updated Date: 14 Jun 2022

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