New Orleans, LA
- 19+ years of primary term remaining.
- Within 2 miles of the subject property is Tulane University, Caesar Superdome, Smoothie King Center, New Orleans Business District, French Quarter and Freret Street.
- Ochsner Baptist Medical Center & Hospital within one block.
- Sales volume is above the national average.
Pharma Property Group is pleased to present the opportunity to purchase a Walgreens in New Orleans, Louisiana. Walgreens has ±19 years remaining nine (5-year) options to extend. Walgreens has been operating at this site since 2000 and in 2011 showed commitment to the location by signing a new firm 30-year lease. The nine (5-year) options start in 2041 and this is an true absolute net lease with Walgreens paying all building and property expenses directly.
Within a block of the subject property is the Ochsner Baptist Medical Center and Hospital comprising of 550,000+ square feet of buildings sitting on 3.1 acres of land. Ochsner Medical is Louisiana’s largest non-profit academic, multi-specialty and healthcare delivery system.
This location is a strategic corner for Walgreens as evidenced by the 30-year firm term commitment, unavailable developable land in the immediate area and having CVS directly across the street. Reported sales volumes are above the national average and there is a 20+ year operating history at the site.
The signalized corner of S. Claiborne Avenue and Napoleon Avenue have combined traffic counts of over 43,000 vehicles per day. There are over 360,000 residents in a 5-mile radius and within a 1.5-mile radius there are over 1,000 Tulane student housing, apartment, and hotel units.
Within 2 miles of the subject property is Tulane University (14,669 students), Tulane Student Housing (Over 400 rooms), Caesar Superdome (NFL Saints Stadium), Smoothie King Center (NBA Pelicans Stadium), New Orleans Business District, French Quarter (3.5 miles NE) and Freret Street (20+ restaurants).