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Walgreens Sales Close at Record-Setting Cap Rate of 3.69%

“The demand for triple net lease, single-tenant properties is still extremely high: The smart money needs a place to go.”

By Paul Bergeron | April 08, 2022 at 08:21 AM
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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%.

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