WAG #5987 - Willingboro, NJ

This fee simple Walgreens is located in the heart of Willingboro, NJ - a thriving, high income suburb of Philadelphia. Willingboro is the quintessential American bedroom community, with tree lined streets, urban amenities and effortless access for professionals to Philly, Trenton, Wilmington and New York City. Walgreens recently exercised its option early to extend the term, in exchange for adjusting the rents to market. The store features a prime location right on US 130, the main retail corridor in the trade area with more than 37,000 cars per day passing the store. The corner is surrounded by national retailers and directly in the path of travel to a major healthcare hub, anchored by Virtua Willingboro campus, a 249 bed hospital. The lease is absolute net, with zero landlord responsibilities, a full Walgreens Guaranty and the preferred 5 year option structure. The northeast section of the trade area functions as an Auto Row along 130, with dealerships for Dodge, RAM, Chrysler, Jeep, Hyundai, Toyota and 7-8 independent dealers occupying the route. The southwestern portion of Route 130 has a slew of America's favorite retailers, multiple headquarters and distributions hubs for retailers such as Burlington and Amazon.This Walgreens has the rare combination of RENT BUMPS, ultra high traffic counts, affluent incomes ($100K+), high barriers to entry in the submarket, a dynamic trade area with national retailers abound and almost 200,000 residents in a 5 mile radius. This store is an ideal 1031 exchange target for a passive investor looking for a modern Walgreens with the combination of solid performance and real estate fundamentals.