1420 Wright Avenue is aretail property for lease in Alma, MI.
Subject property includes a 14,820+/- SF single story, free-standing retail building developed specifically for Walgreens Pharmacy. The asset is secured by an Absolute Net Lease from Walgreens operating in their initial 25 year term which allows for the first right of termination January 2032, 17 years remaining. Walgreens has the right to terminate the lease after 25 years, then every five years thereafter until lease expiration in 2080. Zero landlord responsibilities with tenant responsible for all expenses related to the property. The lease is guaranteed by Walgreens Co., the largest pharmacy retailer in the country with a market cap of more than $53B.
• Absolute Net Lease
• 17 Years Remain on Initial Term
• Minutes from Alma College
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