Troy, NY

• Walgreens acquired this store from Rite Aid and rebranded it as a preferred location in 2019.
• Located on the east side of the Hudson River at the entrance to The Troy Waterford Bridge (11,000 VPD). The bridge connects to Highway 32 and leads south to meet with Interstate 787 (±79,000 vehicles per day).
• There are over 4 years remaining on the lease term with 4 (5-year) options and ±5% increases at the beginning of each five-year option.
• Samaritan Hospital, a 277-bed hospital with over 1,400 physicians and medical staff that serves the areas of Troy, Albany and Schenectady is located 4.5 miles south of the property.
• Located twelve miles north of Albany and part of the Albany MSA with a population of over 1,239,000 people which has the largest year over year increase in population among New York’s 13 metro areas.
• Close proximity to Rensselaer Polytechnic Institute (RPI), a school district that employs about 600-700 individuals and serves approximately 4,000 students across its elementary, middle, and high schools.

We are pleased to market for sale the Walgreens property located at 869 2nd Avenue in Troy, New York ("The Property"). Walgreens has been successfully operating at this location for 15 years and has over 4 years of firm term remaining. Walgreens has 4 (5-year) options to extend its lease, with ±5% increases at the beginning of each option.

Located within 4.5 miles of the Samaritan Hospital, the Property benefits from its proximity to one the largest hospitals in upstate NY, serving the Troy Albany and Schenectady markets. The 277-bed hospital underwent major renovations in 2018 modernizing their facilities and expanding their emergency department, ICU, PCU, Med/Surg units, and adding a new parking garage.

The Subject Property was rebranded in 2019 to Walgreens newer prototype and has the preferred double drive through window. Rensselaer Polytechnic Institute and Hudson Valley Community College, both within 10 miles of the Subject Property, combined for over 18,000 full time students and 2,800 faculty and staff.

The Property is located 12 miles from Albany and benefits from its highly visible location and direct access to downtown Albany. Situated on the Waterford bridge (11,000 VPD), the Property has access to Interstate 787 (79,000 VPD) leading directly to downtown Albany. The Albany MSA has over 1,239,000 people and the largest year over year increase in population among New York’s 13 metro areas.