Description
The subject property is a brand new 14,820+/- square foot building on approximately 2.04 acres, leased to Walgreens under a brand new 75-year NNN lease at the intersection of US Highway 43 and Highway 75 in Albertville, AL. US Highway 431 is a main retail and traffic artery of Albertville that runs all the way through Huntsville, AL. The intersection of Highway 431 and Highway 75 is the highest traffic count for Marshall County with counts of 34,760 cars per day on 431 and 12,880 cars per day on 75 in 2006. National retailers in the immediate vicinity include McDonald's, Burger King, Domino's, Arby's, and KFC.
Walgreen Co. has signed an initial 75-year NNN lease that is scheduled to commence on June 1, 2008. The Tenant is responsible for all expenses including taxes, insurance, common area maintenance, roof, and structure.
Walgreen offers an old-fashioned tonic for fiscal fitness: quality over quantity and homespun growth rather than growth through acquisitions. It works. While Walgreen has fewer stores than its closest rival CVS, it is #1 in the nation in sales. Walgreen operates some 6,270 stores in 49 states and Puerto Rico, and has three mail order facilities.
Located in Marshall County in the northeast part of the state, this is home to nearly 25,000 people in the fastest growing county in Alabama. Albertville's favorable tax structure and affordable power rates have enticed a number of major companies to locate here, including Mitchell Grocery Corp., one of the South's biggest wholesalers, as well as over 1,000 other businesses. Albertville has the largest number of industrial companies in the county - over 80 - located in four industrial parks. The city has a powerful infrastructure to support its corporate climate, with excellent fire, police and health care services.
Albertville has one of the largest school systems in the state. Three junior colleges and four universities are within commuting distance.
Albertville, AL is a bedroom community of Huntsville, Alabama. Marshall County is also home to Lake Guntersville, a desired retirement location.
Marshall County was ranked 11 of 67 counties in State of Alabama for actual population growth between 2000 and 2004. Of the top 11, 3 counties were Birmingham MSA, three were Huntsville MSA (including Marshall County).