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.
- 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)