- New 15 year lease with 5% rental increases every 5 years in the initial term and in the options.
- 17+ year operating history.
- Recent third-party reports will be provided to buyer.
- Absolute net lease with zero landlord responsibilities.
- Growing Ohio industrial/manufacturing hub with 69 Acre Lee Industrial Park nearby.
- 1.8 miles from recently developed Elwood Aluminum $72M manufacturing plant (150,000 SF).
Pharma Property Group is pleased to market for sale the Walgreens property located at 15 South Main Street in Hubbard, 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 term and in each of the 12 (5-year) options.
The Property is located in the city of Hubbard which is a growing industrial/manufacturing hub in the state of Ohio bordering Pennsylvania. In 2021 and 1.8 Miles from the Property, Ellwood Aluminum built a $72,000,000 manufacturing plant (150,000 square feet) and 1 Mile to the northeast of the Property sits a RediBag manufacturing plant (225,000 square feet) and the Jet Stream manufacturing plant (175,000 square feet. Also within 6 Miles from the Property lies the Lee Industrial Park comprising of 69 Acres of industrial buildings ranging from 7,000 square foot to 200,000 square foot units.
The Property benefits from a growing industrial/manufacturing economic and employment base as it sits at the signalized intersection of South Main Street and West Liberty Street (20,058 vehicles per day) off of the Main Street off-ramp from Interstate 80, which is the main thoroughfare connecting the Youngstown/Warren MSA to the cities of Sharon/Hermitage, Pennsylvania.