Walgreens (NYSE: WBA) – Investment Grade Credit – Largest Retail Pharmacy in the U.S. & Europe – The building is leased to Walgreens who is owned by parent company Walgreens Boots Alliance, Inc. (NYSE: WBA). This parent company is currently the largest retail pharmacy in the US and Europe, with 13,200 stores in over 11 countries and an impressive $50B market CAP. Walgreens also carries an investment grade credit rating of “BBB” from Standard & Poor’s.
Corporate Lease Guaranty from Walgreens Co – Absolute NNN Lease w Zero LL Responsibilities – Longest Leased Walgreens Investment Available in the State of Georgia – The lease provides an investor with a strong corporate guaranty from Walgreens Co. and has over 15 years of firm lease term remaining. In addition, the lease is absolute triple-net (NNN), where the tenant pays for taxes, insurance, and 100% of the maintenance of the land & building. The landlord has zero maintenance responsibilities on this asset and is ideally provided with a steady passive income stream. This location is the longest leased Walgreens investment available in the state of Georgia today.
Shadow Anchored by Two Major Shopping Centers – Tenants Include Publix, Home Depot, Target, TJ Maxx, Ross, Kohl’s – Hard Corner Signalized Intersection – The subject property is located on the hard corner signalized intersection of Spout Springs Rd & Hog Mountain Rd (combined 19,000+ CPD), across from the Stonebridge Village Shopping Center. This large power center is co-anchored by Target and Home Depot and includes additional national tenants such as TJ Maxx, Kohl’s, Ross Dress for Less, PetSmart, OfficeMax, and more. Additionally, the Walgreens is located across from a Publix grocery anchored shopping center offering a strong draw to this site.
Less Than Half Mile from Interstate 985 (67,000+ CPD) – Just 44 Miles to Atlanta – The subject property is located just a half mile from the on/off ramp to Interstate 395 (67,000+ cars per day), for quick access to/from downtown Gainesville a mere 11 miles to the north, or Atlanta just 44 miles to the south.
Strong Surrounding Demographics – Close to New Sterling on the Lake Master Planned Community – The site offers strong demographics, with over 60,000 people living within a 5-mile radius of the subject property with an average household income over $95,000, lending well to the tenant’s concept and supporting its continued success. The Walgreens is just 2 miles from Sterling on the Lake, a 1,000-acre master-planned community that will include approximately 2,000 homes, over 200 acres of open space, 75 acres of lakes, a Village Center, fitness center, and 27-seat movie theater. Additionally, the new 119-acre campus of Northeast Georgia Medical Center just six miles away in Braselton, providing for strong synergy for this tenant.
Flowery Branch: Home of the Atlanta Falcons – Located Near Lake Lanier: Strong Tourist Draw – Desirable Atlanta MSA – The property is located in Flowery Branch, GA, a city in Hall County, within the Atlanta MSA. Ideally located on Lake Lanier, Flowery Branch is situated just 11 miles from Gainesville and just over 40 miles from Atlanta. Flowery Branch is one of the only Georgia historic downtowns on a lake and is very close to several marinas, including Aqualand, the largest inland marina in the United States. This waterfront access and its location within the Northeast Georgia Mountain region are a large potential draw for outdoor recreational enthusiasts, who come to the area for boating and fishing. It’s estimated that there are over seven million visitors to the lake annually, all of whom are exploring the beauty of the North Georgia region and the recreational opportunities available.
Additionally, Flowery Branch has been home to the Atlanta Falcons Training Camp facility since 2005. Situated on 50 acres, with practice fields, training rooms, indoor practice field, meeting facilities, and player lodging, the Atlanta Falcons/Georgia Force headquarters offers the home teams an expansive location to train throughout the year.