Evansville, IN
- Less than 1 mile from Acension St. Vincent Hospital (500+ beds) and 3.3 miles from Deaconess Gateway Hospital (250 beds).
- 2M SF of retail within a 1 mile radius and less than 2 miles south of Eastland Mall (1M SF).
- Absolute NNN lease with twelve (5-year) renewal options and 5% rent increases in the first four renewal periods.
- Labcorp patient service center operates within the building, generating additional healthcare-related foot traffic.
- Combined traffic count of approximately 25,426 VPD along South Green River Road and Washington Avenue and is less than a mile from SR 66 with 62,961 VPD.
- Evansville employers include Deaconess Health System, Berry Global Group (Fortune 500), Ascension, Old National Bank, and Toyota Motor Manufacturing Indiana.
We are pleased to market for sale the Walgreens property located at 925 South Green River Road, Evansville, IN 47715 (the “Property”). The current lease term runs through November 30, 2029, with twelve (5-year) renewal options. Walgreens operates under a absolute net lease, which provides for no landlord obligations whatsoever and calls for rental increases every 5 years for the first four options.
The Property is located less than 1 mile from Ascension St. Vincent Evansville, a hospital with approximately 508 beds, and 3.3 miles from Deaconess Gateway Hospital, which has approximately 250 beds. Within a 1-mile radius there is 2 million square feet of retail as well as the Eastland Mall located less than 2-miles north, a 1 million square foot center anchored by JCPenney, Dillards's and Macy's. The Property reports strong sales and includes a Labcorp patient service center, which provides diagnostic testing services and contributes additional customer traffic to the site.
Evansville serves as the headquarters for several major employers, including Berry Global Group (a Fortune 500 company), Old National Bank, Koch Enterprises, and Jasper Engines & Transmissions. Other notable employers in the region include the TJ Maxx Distribution Center and Toyota Motor Manufacturing Indiana.
