Just Closed | Walgreens, Midvale, Utah

 

IREA is pleased to announce the closing of the Walgreens in Midvale, Utah. The property closed at $6,038,308. The buyer was represented by IREA partners Clark Everitt and William Everitt who were assisting the buyer with a 1031 exchange.

ABOUT

  • STABLE INCOME – The lease income is guaranteed by Walgreens Corporation (NYSE: WAG) with a credit rating (S&P) of BBB (Investment Grade).

  • ABSOLUTE NET LEASE WITH 10+ YEARS REMAINING - There are ±10 years, 4 months remaining on an absolute net lease with no landlord responsibilities.

  • RARE MOUNTAIN WEST INVESTMENT OFFERING UNDER $6M - Modest rent level and a price per square foot acquisition cost of under $400.

  • SALT LAKE CITY MSA LOCATION - Property benefits from ±129,638 residents within a 3-mile radius and ±371,138 residents within a 5-mile radius.

  • OUTSTANDING TRAFFIC COUNTS OF ±65,000 VPD - Property is 0.7 mi. from I-15 & I-215, at SE corner of State St. & 7200 S., traffic count of ±65,000 VPD.

  • SUBSTANTIAL FOOT TRAFFIC - Commuters walk by from Midvale Fort Union Station to/from dense residential area just east containing ±31,524 rooftops.

AGENTS

 
 
Clark Everitt, William Everitt, RetailJonathan Krikorian