Overview
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of Walgreens located at 101 Doug Baker Blvd in Birmingham, AL. The offering is 14,560 SF and is a high visibility outparcel to the Village at Lee Branch, a retail power center anchored by Publix, Dicks Sporting Goods, Hobby Lobby, Golf Galaxy, and many other high-quality tenants. The property sits at the hard corner of the signalized entrance of the shopping center and features frontage along US Highway 280 which sees over 80,000+ VPD.
The subject property is located in the heart of an affluent, bustling, and rapidly growing community, with HH incomes of $160,000+ and with over 500 new construction single family homes and townhomes within a few miles of the site. Walgreens pays $325,500 in annual rent, has occupied the site since it was built in 2003, and features high reported sales.
Investment Highlights
EXCELLENT EXPOSURE ALONG MAIN THOROUGHFARE
The property is located at the crossroads of US 280 (80,128 VPD) and Doug Baker Boulevard (9,720 VPD)
CORPORATE GUARANTEE WITH ZERO LANDLORD RESPONSIBILITIES
Ownership benefits from a Walgreens Corporate Guarantee, the second largest drugstore chain in the country. In addition, the lease calls for zero landlord responsibilities leaving ownership with a completely hands-off passive investment
HIGHLY AFFLUENT COMMUNITY
Densely Populated Trade Area with a 3-Mile population of 41,618 people earning over $160,000 annually and a 5-Mile population of 71,358 people earning over $154,000 annually
LOCATED IN HIGH TRAFFIC RETAIL CORRIDOR
Outparcel to The Village at Lee Branch, which features tenants such as Publix, Dick's Sporting Goods, Hobby Lobby, AMC Theatres, and an array of service-oriented tenants boosting locational foot traffic. Additional national tenants along U.S Hwy 280 within close proximity include Walmart, Lowes, Burlington, Home Depot, TJ Maxx, Target, Best Buy, Chick-fil-A, Chipotle, and more
DESIRABLE INVESTMENT MARKET EXPERIENCING UNPRECEDENTED GROWTH
Birmingham, Alabama is experiencing unprecedented growth in population, economy, and business expansion driving national recognition. Birmingham recently named one of the top 10 markets with the highest occupancy growth
AREA DEVELOPMENT
The subject property sits between Windsor Court, composed of 120 new townhomes, and Griffin Park which features 325 newly constructed single-family homes sitting on a 144 acre tract of land known for government purposes at a Single Family Special District, in an effort to keep up with Birmingham's explosive growth
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