73626 Highway 25
Covington, LA 70435

Strategically located at the hard-signalized intersection of State Highway 15 (LA 25) and US 190, a major East-West thoroughfare, the property is highly visible to more than 27,500 vehicles daily. Covington is part of the greater New Orleans MSA with estimated 1,275,762 full time residents in 2019, up from 7.2 percent from 2010. The immediate trade area benefits from am estimated 45,000 full time residents with an average household income exceeding $95,000 annually. There are numerous national and regional retailers surrounding the area including Winn-Dixie, Dollar General, Wendy's, PJ's Coffee, Burger King, McDonald's, Tractor Supply, Taco Bell and Subway among others. Walgreens signed a 25 year Absolute NNN Lease with Zero landlord responsibility and has over 11 years remaining on the initial term, with ten options to extend for 5 years each. Walgreens (NYSE:WBA) is a publicly traded company with an S & P Credit Rating of BBB and is ranked #17 in the Fortune 500 (2019). Some financial highlights include 2018 Revenues of $131.537 Billion and 2018 Net Profits of $5.024 Billion. Walgreens operates over 8,200 stores in all 50 states, The District of Columbia, Puerto Rico and Guam. The company also operates work site health centers, home care facilities, and specialty and mail service pharmacies. This is an opportunity for an investor to acquire a long term fee-simple Walgreens with strong performing sales on a highly trafficked signalized corner. BROKER OF RECORD: CHRIS SHAHEEN MARCUS & MILLICHAP 10527 KENTSHIRE CT., SUITE B BATON ROUGE, LA 70810 LICENSE: BROK.0095692662-ACT