Walgreens: Sedona, AZ (Flagstaff MSA)

RARE WALGREENS LEASE WITH RENT INCREASES
The Lease provides 5% fixed rent increases every 5-years during the primary term and the 12, 5-year option periods.

NEW 15-YEAR ABSOLUTE NNN LEASE
The subject property operates under a new Absolute NNN Lease with no Landlord management or maintenance responsibilities whatsoever.

INVESTMENT GRADE TENANT
The Lease is guaranteed by Walgreen Co., a subsidiary of Walgreens Boots Alliance, Inc. and rated Baa2/Stable by Moody’s. Walgreens Boots Alliance, Inc., the Parent Company, carries an Investment Grade Credit Rating of BBB/Stable from S&P and Baa2/Stable from Moody’s.

WELL-ESTABLISHED LOCATION WITH DRIVE-THRU
The subject property benefits from a drive-through pick-up window to deliver prescription and non-prescription drugs along with many other essential retail items during the COVID-19 pandemic. Walgreens has a 24-year operational history at this location and the new 15-year absolute NNN lease (with increases) reflects their re-commitment to this location for the foreseeable future.

ESSENTIAL RETAILER OPERATING AND ASSISTING U.S. AUTHORITIES DURING THE COVID-19 PANDEMIC(3)
As a global, pharmacy-led health care company, Walgreens Boots Alliance has been working to ensure the safety and well-being of their colleagues, patients and customers during the pandemic of COVID-19. Their retail pharmacies have worked to provide up-todate information and public health guidelines to customers, and their emergency response teams across the business are actively working to find ways play a greater role in what has become a global emergency – including working with the United States federal government to expand access to COVID-19 testing.

AFFLUENT LOCATION WITH EXCELLENT DEMOGRAPHICS
The average household income within a 1-mile radius is $92,922 and increasing to $103,469 within a 5-mile radius

LOCATED IN ONE OF AMERICA’S PREMIER TOURISM, RECREATION, AND RETIREMENT CENTERS
The primary industry and economic engine of Sedona is tourism, with nearly 3 million tourists visiting each year generating over $1 billion in economic activity and making it second only to the Grand Canyon as a tourist destination in Arizona.

CENTRAL SEDONA LOCATION WITH EXCELLENT VISIBILITY ALONG THE “HIGHWAY OF WONDERS”
The Walgreens is located on a hard corner with frontage along Arizona State Route 89A, Sedona’s main commercial corridor with average daily traffic counts of 30,329. This is the key artery of the Verde Valley connecting Flagstaff to Prescott and named one of the most beautiful drives in America.

(1) Rentable Area, Lot Size, Guarantor, Lease Terms, Building Specifications, Year Built, Demographics and S&P/Moody’s Ratings are estimates. Buyer is responsible for verifying during the Due Diligence process.
(2) All financial data shown above is for Walgreens Boots Alliance, Inc., the Parent Company. The Tenant under the Lease, Walgreen Co., is a subsidiary of Walgreens Boots Alliance, Inc., the parent company. Walgreens Boots Alliance, Inc. does not guarantee the lease.
(3) Sources: www.walgreensbootsalliance.com

AZ Broker of Record: Ryan Sarbinoff
Lic.# BR675146000