Description
CBRE, Inc. is pleased to offer an immaculately maintained ±13,000 square foot single tenant net leased retail building leased on a long term basis to Walgreen Co., an Illinois corporation. This location is the only 24-hour retail pharmacy in Lodi, a town with a population of 68,000 located in California’s Central Valley.
Walgreens is the flagship U.S. brand of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), an integrated healthcare, pharmacy and retail leader. Its retail locations are a critical point of access and convenience in thousands of communities.
Walgreens Boots Alliance has approximately 12,500 retail pharmacy locations across the U.S., Europe and Latin America employing approximately 311,000 team members. WBA has a presence in eight countries and consumer brands including Walgreens, Boots, Duane Reade, No7 Beauty Company and Benavides.
The opportunity is priced at $2,790,000 or $215 per square foot. The Tenant has been in occupancy on a continuous basis since 1993 and has extended its lease twice via amendments to the original Agreement. Walgreens’ lease presently provides for an expiration date of September 30, 2055. The lease may be terminated effective September 30, 2035 and every five years thereafter. In each instance six months’ notice of the Tenant’s intent to terminate shall be provided. The Tenant’s lease and amendments thereto are included in the Subject’s Virtual Deal Room, access to which shall be provided upon request.
S&P Global Ratings withdrew all its ratings in September 2025 for Walgreens Boots Alliance (WBA) and Walgreen Co. at the issuer’s request following the completion of the Company’s acquisition by Sycamore Partners as well as the redemption of most of its rated debt. At the time of the withdrawal S&P’s long-term issuer credit rating on WBA and Walgreen Co. was BB-. Their short-term rating for both entities was B.
For more on the acquisition and Sycamore Partners visit: https://www.sycamorepartners.com/news-article/sycamore-partners-completes-acquisition-of-walgreens-boots-alliance.
