Property Highlights
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of Walgreens | North Charleston, SC. The premises has a 70 year lease to which commenced in October 2011. Walgreens has termination option in Year 25 (09/30/2036) of the lease, with every 5 years following. The Asset is well positioned at a lighted intersection in a commercial hub of North Charleston, SC.
- Top Performing Store
- In the top 60th percentile of Walgreens in the State | Very strong sales reporting
- Attractive Assumable Debt
- Seller is offering interest-only assumable debt that is well below market interest rates (5.30%)
- Located in Commercial Hub
- Over 4.7MSF of retail space is located within a 1-mile radius | Other National Tenants include: Walmart Supercenter, Target, Best Buy, Home Depot, and Lowes Home Improvement | Less than 0.5 Miles to Northwoods Mall, a 411K SF enclosed shopping mall.
- Phenomenal Underlying Real Estate
- Subject site is located at the lighted intersection of Ashley Phosphate Rd (73.2K VPD) and Rivers Ave (42.6K VPD) | Less than half mile to I-26 (111K VPD), the main interstate to Charleston, SC
- Investment Grade Tenant
- Absolute Net Lease signed with Walgreens Corporate | Walgreen’s has over 9K+ locations | Market Cap: $21.7B and credit rating of BBB (S&P)
- Charleston MSA – High Growth
- Charleston, SC has had a 17.7% population change from 2010 to 2023 | Approximately 800K people live in the MSA