NAI Legacy Acquires a Walgreens in Atlantic Beach, FL

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 a full-service commercial real estate firm specializing in tax-efficient real estate investment solutions. NAI Legacy is focused on Commercial Real Estate Investments, Brokerage, NNN Properties, Property Management, Asset Management, and Private Client Solutions. The team at NAI Legacy has a combined 150 years of experience in the commercial real estate sector with over $6 billion of brokerage, investment, and property management experience. Our affiliation with NAI Global connects us to regional offices across the US and beyond.