The information contained in this marketing brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Commercial Integrity, NW and should not be made available to any other persons or entities without written consent of Commercial Integrity, NW. The information contained herein has been prepared to provide summary, unverified financial and physical information to prospective purchasers to establish a preliminary level of interest in the Subject Property. THE INFORMATION CONTAINED HEREIN SHALL NOT BE A SUBSTITUTE FOR
A THOROUGH DUE DILIGENCE INVESTIGATION.
Commercial Integrity, NW has not made any investigation, and makes no warranty or representation with respect to the income or expense for the Subject Property, the future projected financial performance of the Subject Property, the size or square footage and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or financial condition or business prospects of any tenant, or any tenant’s plan or intentions to continue to occupy the Subject Property. The information contained herein has been obtained from sources we believe to be reliable; however, Commercial Integrity, NW has not verified and will not verify, any of the information contained herein, nor has Commercial Integrity, NW conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential purchasers must take appropriate measures to verify all of the information set forth herein.
SELLER OFFERING FINANCING WITH UP TO 80% DOWN. 3 YEARS. INTEREST-ONLY @ 5.00%
SELLER OFFERING FINANCING WITH UP TO 80% DOWN. 3 YEARS. INTEREST-ONLY @ 5.00%
Walgreens (S&P Rated BBB)
With over 9,500 US locations, Walgreens (S&P Rated BBB) is one of the nations largest Drugstores.
Centrally located in the heart of Lacey, WA
Situated between the city’s main arterials: Pacific Avenue, Lacey Blvd, and College St SE. which generates over 51,274+ VPD.
Investment Grade Tenant
The lease is guaranteed by Walgreen Co., a subsidiary of Walgreens Boots Alliance, Inc. and rated Baa2/ Stable by Moody’s. Walgreens Boots Alliance, Inc., the Parent Company, carries an Investment Grade Credit Rating of BBB/Stable from S&P and Baa2/Stable from Moody’s.
Top Performing Location*
This is one of only two Walgreens locations in the city of Lacey which serves over 54,000+ population. This Walgreens ranks #1 in the city, county, and MSA and ranks #17 in the State.
Lacey Town Square Shopping Center
This Walgreens is part of a larger shopping center consisting of 65,000+ SF and includes Tenants: Harbor Freight Tools, Timberland Bank, Rodda Paint, Papa Johns Pizza and Charter College. Other retailers nearby include: Starbucks, KFC, Fred Meyer, & Office Depot.
Higher Education
St. Martin Undergraduate Enrollment is 1,500 and 0.6 of a mile from Subject Property. Evergreen State College in Olympia enrollment is up by 14% in 22 years starting off 2022-2023 academic year with 2,116 students and is 9.6 miles from this asset. South Puget Sound Community College Enrollment is 4,665 and it is 6.1 miles to this Walgreens.
Serving a Military Hub
The subject property is located less than 30 minutes from Joint Air force Base Lewis-McChord. The 4th largest military base in the world and the largest military installation in the Western U.S. provides Lacey WA with 34,364 Military personnel, 16,437 civilian, and 58,635 dependents.
Real Estate Taxes
In addition to base rent, Tenant shall pay 100% of all real property taxes and assessments levied, assessed or imposed during the Term upon the Property.
Insurance
In addition to base rent, Tenant shall pay 100% of all costs of insurance required by Landlord. Tenant shall procure and maintain Fire and Public Liability Insurance.
Utilities
Tenant is solely responsible for provision and payment of all water and sewer facilities, gas and electrical services including heat and light, garbage collection, recycling, all other facilities and utility services used by Tenant.
Tenant R&M
Tenant is solely responsible for provision and payment of all repairs and replacement including structural and non-structural, ordinary and extraordinary, necessary to maintain the building.
Expense CAP
Administrative charge not to exceed 10% of operating expenses & direct admin costs.
PROPERTY
4540 Lacey Blvd
Lacey, WA
Tenant Walgreens Lease
02/02/2001
02/28/2031
LEASED AREA
LOT 77,537 SF
BLDG 15,120 SF
Exclusive Use For Drugstore, Retail, Pharmacy
Estoppel Certificate
Thirty (30) days
$384,999.94
Annual Base Rent
RANKING PROVIDED BY ALPHAMAPS
STATE: 17TH OF 135 WASHINGTON STATE LOCATIONS
COUNTY: 1ST OF 4 THURSTON COUNTY LOCATIONS
METRO AREA: 1ST OF 4 METRO LOCATIONS
CITY: 1ST OF 2 LACEY LOCATIONS
AVERAGE VISITS*
ANNUAL: 287,964
MONTHLY: 23,997
WEEKLY: 5,537
DAILY: 791
WALGREENS
WALGREENS, IS AN AMERICAN COMPANY THAT OPERATES THE SECOND-LARGEST PHARMACY STORE CHAIN IN THE UNITED STATES BEHIND CVS HEALTH. THE BRAND SPECIALIZES IN FILLING PRESCRIPTIONS, HEALTH AND WELLNESS PRODUCTS, HEALTH INFORMATION, AND PHOTO SERVICES. FOUNDED IN CHICAGO, ILLINOIS, IN 1901, AND IS HEADQUARTERED IN THE CHICAGO SUBURB OF DEERFIELD, ILLINOIS. ON DECEMBER 31, 2014, WALGREENS AND SWITZERLAND-BASED ALLIANCE BOOTS MERGED TO FORM A NEW HOLDING COMPANY, WALGREENS BOOTS ALLIANCE INC. WALGREENS BECAME A SUBSIDIARY OF THE NEW COMPANY, WHICH RETAINED ITS DEERFIELD HEADQUARTERS AND TRADES ON THE NASDAQ UNDER THE SYMBOL WBA. AS OF AUGUST 31, 2019, THE COMPANY OPERATED 9,277 STORES IN THE UNITED STATES
9,277+ FOUNDED
LOCATIONS
1901
WBA NASDAQ
325K+ EMPLOYEES
HEADQUARTERS $90.1B
REVENUE
DEERFIELD, IL
TENANT PROFILE: WALGREENS
THE CAPITAL CITY OF WASHINGTON, OLYMPIA, AND HER SUBURB CITY, LACEY, HAVE BEEN ONE OF THE FASTEST GROWING AREAS IN THE STATE, AVERAGING OVER 1.25% ANNUALLY COMPARED TO THE US AVERAGE GROWTH RATE OF 0.69% FOR MAJOR METROS
NEW 2021 LEASE LOCATION SHOWS LONG TERM COMMITMENT BY TENANT TO THE SITE
1ST RANKING WALGREENS OF 4 IN THE METRO AREA
CHARTER COLLEGE SERVES 2,120+ STUDENTS
LACEY ART FESTIVAL
LACEY WATER FRONT
PIRATE FESTIVAL
