- New 15 year lease with 5% rental increases every 5 years in the initial term and in the options.
- 20+ year operating history.
- Recent third-party reports will be provided to buyer.
- Absolute net lease with zero landlord responsibilities.
- Large distribution facility presence in the region as Springfield is a connecting city to Dayton and Columbus from Interstate 70.
- Prime Ohio Industrial Parks I & II nearby including 2.17M square feet employing nearly 3,000.
Pharma Property Group is pleased to market for sale the Walgreens property located at 2609 East Main Street in Springfield, 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 strategically across the street from a CVS location along Highway 40 running parallel to Interstate 70, which are the two main thoroughfares for the 70 miles connecting the Dayton and Columbus MSA’s. Being the largest community between Dayton and Columbus, Springfield benefits from a large distribution facility presence in the region.
Within 5 miles of the Property are numerous distribution/industrial centers: 523,000 square foot ALDI distribution facility, 334,000 square foot Springfield Distribution Center, recently completed Prime Ohio II Industrial Park with 870,000 square feet of space and over 200 Acres zoned for additional industrial development and the 400 Acre Prime Ohio Corporate Park I with 1.3 million square feet of industrial space employing 2,300 people.
The strong employment in the area has led to numerous developments within 2 miles of the Property including Melody Parks, a recent 187-acre development including a 1,250-unit residential development with an additional 500,000 square feet of commercial space and the new 214-unit development of Brentwood Square Apartments.
Within 3 miles of the Property is Wittenberg University (1,300 students/496 faculty), Clark State College (5,300 students/440 faculty) and Mercy Health Medical Center (254 beds/2,000 employees).