A 13,833-square-foot single-tenant retail store triple net leased to a Walgreens in Austin, Texas, has traded at a 3.69% cap rate—a record for Walgreens stores in the country, according to JLL.
This transaction follows on the heels of a deal in February in which a 15,206-square-foot single-tenant retail store triple net leased to Walgreens in the Miami-area community of Miami Shores, FL, also traded at 3.69%.