Real Estate News
NAI Legacy Acquires a Walgreens in Atlantic Beach, FL
Minneapolis, MN - NAI Legacy and its affiliates are pleased to announce the acquisition of a $7.76M Walgreens pharmacy net lease asset located in Atlantic Beach, for placement within a Delaware Statutory Trust (DST).
NAI Legacy acquired the Class-A, 14,478 square-foot essential business property is located ± 15 miles east of Jacksonville, at 2405 Mayport Road, Atlantic Beach, Florida. The property is 100% leased to Walgreens, a nationwide retail-pharmacy operator and an investment-grade tenant (S&P: BBB). Walgreens' parent company, Walgreens Boots Alliance has corporately guaranteed the 15+ year lease with multiple options for extension.
Built in 2010, the property is slated for placement in one of NAI Legacy's popular Delaware Statutory Trusts (DSTs). NAI Legacy's offering provides an opportunity for 1031 exchange investors to participate in a passive investment while mitigating many real estate risks. Walgreens generated over $131.5 Billion in annual revenue in 2020 due to its successful operations throughout the pandemic. Managing Director, Michael Houge, stated, "The acquisition of the Property reinforces our dedication to providing our clients and partners net leased investments with what we believe to be strong and enduring tenants. Indeed, this property benefits from being located at the entrance to a large retirement community, which fits hand-in-glove with Walgreens' primary customers."
About NAI Legacy
NAI Legacy is the tax-efficient investment platform in the NAI Global Network. NAI Legacy operates as both a provider of real estate investment products and investment services. Our investment division provides our Private Clients with tax-efficient real estate investment solutions such as Delaware Statutory Trust offerings (DSTs), Funds, and Direct investment opportunities. Our service divisions provide clients with comprehensive investment solutions through brokerage, property management and accounting. Through our affiliation with the NAI Global Network, we have direct access to every major market in the United States with over 300 office locations. Our unique offerings of both product and services supported by a national network allow us to tailor investment services directly to a client's unique investment criteria across asset classes, geography, risk-tolerance, and investment preference.
For more information on commercial real estate tax strategies, contact one of our team members found at www.nailegacy.com
