7227 S State St
Midvale, UT 84047

Pharma Property Group has been retained as exclusive agent and is pleased to offer investors the opportunity to acquire a Walgreens in Salt Lake City (Midvale), Utah. The lease income is guaranteed by Walgreens Corporation (NYSE: WAG) with a credit rating (S&P) of BBB (Investment Grade). There currently 10 years and 4 months remaining before the Ten (5 year) options to follow. For being located on a infill Salt Lake City corner, the subject property has modest rent level and a price per square foot acquisition cost of under $400.This is an absolute net lease with no landlord responsibilities whatsoever. This Walgreens is the only national drugstore in a two-mile radius and has limited competition. The closes CVS is 2.36 miles away and there are no Rite Aids in the state of Utah. The property is 0.7 miles from where the two largest freeways in the state of Utah meet, Interstate 15 (196,000 vehicles per day) and Interstate 215 (116,000 vehicles per day). The subject property is located at exit 297 from Interstate 15 at the southeast signalized corner of State Street (36,000 vehicles per day) and 7200 South (29,000 vehicles per day) with a combined traffic count of ±65,000 vehicles per day. There are many commuters walking past the subject property from the Midvale Fort Union Station (located 0.7 west of the subject property) towards the dense residential area east of the subject property which contains roughly 31,524 rooftops in a 1 mile trade area. The subject property is surrounded by over 6,400,000 square feet of retail within a two mile radius. Some of the major retail centers include Fashion Place Mall located ±1.5 miles north (±456,000 square foot super regional mall with over 130 tenants) and Shops at Fort Union ±1.9 miles East (±740,000 square foot power center). The subject property benefits from ±129,638 residents within a three-mile radius and ±371,138 residents within a five-mile radius. Some of the area's largest employers include Delta Airlines, L3 Communications, Ebay, Goldman Sachs & Company, and Overstock.com.