Norwalk, OH
- Two miles from Fisher Titus Medical Center, a 99-bed hospital with 700 medical staff.
- Only Walgreens serving immediate region, next closest Walgreens is 24 miles away.
- NASA'S Neil Armstrong Test Facility, 6,400 acre area with highly skilled workforce (9 miles north).
- One half mile to Huron County offices, approximately 400 county staff work in the county offices.
- Manufacturing companies in the region, almost 7,000 residents in the city are employed in the manufacturing sector.
Pharma Property Group is pleased to market for sale the Walgreens property located at 4 East League Street in Norwalk, Ohio ("The Property"). Walgreens has agreed to a new 15-year absolute net lease with no landlord responsibilities whatsoever. The lease includes 5% rental increases every 5 years in the initial lease term and in each of the 12 (5-year) options.
The Property benefits from limited competition in the area with the closest Walgreens 24 miles away and Walgreens has shown commitment to this site agreeing to the new 15 year lease after 16 years of operating history. The Property is located at one of the main intersections of Norwalk at the signalized corner of East League Street and Whittlesey Avenue with a combined traffic count of 19,584 vehicles per day.
Located just 9 miles north of the Property is NASA's Neil Armstrong Test Facility, a 6,400-acre area home to several world-class test facilities which perform complex and innovative ground tests for the international space community with a highly skilled workforce of more than 100 engineers, technicians and administrative and support personnel. The Huron County offices are located in Norwalk approximately a half mile from the Property and employ approximately 400 staff. The 99-bed Fisher Titus Medical Center is located just two miles southeast of the Property and employs approximately 700 medical staff. One of the largest industries in Norwalk is manufacturing which employs roughly 7,000 residents of the city through numerous companies in the region.
