El Centro, CA
- Absolute Net Lease with Zero Landlord Responsibilities
- Solid reported Sales with 20+ Year Operating History
- In 2015 Walgreens Agreed to Additional Firm Lease Term to the Original Lease Showing Commitment to this Location.
- Modestly Priced for a Southern California Absolute Net Leased Asset
- Located on One of the Main Intersections in El Centro with Over 44,000 Vehicles Per Day
- Only Walgreens in El Centro and Located at a Strategic Corner with Rite Aid Directly Across the Street Strong Agricultural and Cross-Border Employment/Economic Activity
- Across the Street from Valley Plaza Shopping Center with Tenants such as Sketchers, Grocery Outlet and Starbucks
- Just 1.5 Miles South from Walmart Supercenter, Costco, Lowe's and Target
- El Centro Regional Medical Center is Just 1.5 Miles South with 161 Beds and 700+ Employees
Pharma Property Group is pleased to exclusively market for sale a single tenant Walgreens property located in El Centro, California. Walgreens has been operating at this Imperial County site for 20+ years and in 2015 Walgreens added more lease term to the original lease showing commitment to the location. Moderately priced for a Southern California asset with a true absolute NNN lease with no landlord responsibilities whatsoever, Walgreens has over 7 years remaining on the lease term and 10 (5-year) options to extend.
The subject property is the only Walgreens in El Centro serving nearly 45,000 residents in the city. This Walgreens has limited competition and a history of strong sales volumes with only one freestanding CVS and one Rite Aid store competing in the El Centro market. The Rite Aid is located directly across the street from Walgreens making this a strategic location for both Walgreens and Rite Aid.
This Walgreens is located on one of the main intersections in El Centro which boasts over 44,000 vehicles per day and is just 1.5 miles from Interstate 8 Interstate. Just 15 minutes from the Mexican border, El Centro provides a stable agricultural employment and cross-border economy as it is the largest community in the Imperial Valley.
