Walgreens

Since its incorporation in 1960, the unprecedented growth of San Dimas has transformed the City from an essentially rural area to a well-balanced community offering industrial, commercial, and residential living. The completion of new freeways (Foothill and Orange Freeways) will benefit the City since it is in a fortunate position to take advantage of this easy access to markets. In addition to the 1,700 acre Frank G. Bonelli Recreational Area which lies within the City boundaries, there are many parks such as San Dimas Canyon Park, a city-owned golf course (San Dimas Canyon Golf Club), and over 27 miles of equestrian trails for riding. The city services include an extensive recreational program for youth and for senior citizens, and the City boasts a new modern City Hall, with excellent provisions made for County Sheriff and Fire Departments, along with a fine Los Angeles County Library and Engineering Regional Office. A bright future lies ahead for San Dimas. Its growth is based upon a solid foundation and the projections are that in a decade its population will reach 40,000, and its reputation as a City that tires “to preserve the western spirit” will grow with the population growth.NAI Capital, as exclusive advisors to ownership, is pleased to present this freestanding single tenant absolute NNN investment opportunity with Walgreens. The chain has been in operations at this location for almost 30 years and has a drive thru pharmacy. The lease has a remaining term of 37 years and termination rights every 5 years. This absolute triple net lease with zero landlord responsibility is ideal for passive investors. The next termination right occurs in May of 2027. The tenant has indicated that they would negotiate the waiver of this termination right, thus allowing the seller to deliver a potential 7-year term investment. The subject consists of a 15,160 SF building built in 2001 and is situated on a 2.04-acre lot located on the SEC of Arrow Highway and Lone Hill Avenue (over 54,000 cars per day). The property is adjacent to and shares a parking lot with the Fitness Plaza, a 20,000 SF strip center. The property is also across the street from the San Dimas Plaza, a 200,000 SF community center anchored by Smart & Final Extra, Harbor Freight and TJ Maxx. Situated just off the West Arrow Highway exit of State Route 57, the high-traffic signalized intersection offers excellent visibility and accessibility. The location also offers close proximity to other major retailers such as Walmart, Big-5, Costco, Target, Trader Joe’s, Home Depot, Lowe’s, Boot Barn, Planet Fitness, and more. The property is located in a well populated and affluent neighborhood with high average household incomes, contributing to the strong performance and demand for Walgreens.