East Coast Drugstore Offering
- New 15 year lease with 5% rental increases every 5 years in the initial term and in the options.
- Recent third-party reports will be provided to buyer.
- Absolute net lease with zero landlord responsibilities.
- Only Walgreens in a ±4 mile radius.
- Across from Kroger anchored center, next closest major grocery store is ±6 miles away.
We are pleased to market for sale the Walgreens property located at 886 Ritter Drive, Beaver West Virginia ("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 is located on the main retail corridor of Beaver and is strategically across the street from a CVS which is one of the tenants in Shady Spring Plaza, a 56,000 square foot mall anchored by Kroger that also contains 12,000 square feet of office space. The next main retail corridor is approximately 6 miles northwest in the city of Beckley.
Walgreens is located directly on Ritter Drive also known as Highway 19 just one mile south of Interstate 64 (24,008 VPD), which runs through Beaver and connects northwest to Beckley and southeast to the Richmond/Norfolk area of Virginia. Interstate 64 also connects to Interstate 77 just 5 miles to the southwest from the property traveling south through all the communities between Beaver and Charlotte, North Carolina.