- Absolute net lease with zero landlord responsibilities and history of solid sales.
- ±7.5 million square feet of retail space and ±5.2 million square feet of office space in a 3-mile radius.
- High traffic intersection with ±92,000 vehicles per day and over 200,000 residents in a 5-mile radius.
- Chesapeake Regional Medical Center hospital is located ±2 miles south with 310 beds and ±3,000 employees.
Pharma Property Group is pleased to exclusively market for sale a single tenant Walgreens property located in Chesapeake, Virginia. Walgreens has been operating at this location for 19+ years. The lease is true absolute NNN with no landlord responsibilities whatsoever with approximately 6 years remaining and 10 (5-year) options to extend.
The property is located along North Battlefield Boulevard, which is a main retail corridor running North directly into Norfolk. This location benefits from traffic counts of over 92,000 Vehicles Per Day and a strong national retail presence in the immediate area including Home Depot, Lowe’s, Denny’s, Sam’s Club, Walmart and Dollar Tree. The immediate surrounding area has a strong medical mix which includes several specialty medical offices in addition to the 300 bed Chesapeake Regional Medical Center which employs over 3000 medical and professional staff. The only other Walgreens store in Chesapeake is over 1.5 miles further east of the hospital and has limited hours compared to Battlefield Boulevard location.