10840 Katella Ave
Anaheim, CA 92804
Walgreens · Retail Property For Sale

Savills, as the exclusive advisor to the seller, is pleased to present the net leased investment opportunity of the fee simple interest in the property subject to an absolute NNN lease corporately guaranteed by Walgreens with +/-10.75 years remaining on the Primary Term located at 10840 Katella Avenue in Garden Grove, California. The current annual rent is $460,015 and a 5.25% increase is scheduled to occur in 2025. The 25-year NNN Lease commenced on August 1, 2005 and ends July 31, 2030. The tenant has ten 5-year Options to Extend with approximately 6% rental increases every ten years. Although Dollar Tree signed a ten-year sublease agreement in 2017, Walgreens Co. is corporately guaranteeing the performance of the lease through the remainder of the Primary Term. The subject property is located near the intersection of Katella Avenue and Euclid Street. Disneyland and California Adventure are both less than one mile from the site and the Anaheim Convention Center is just two miles away. The surrounding center has undergone extensive renovations throughout the past two years and includes tenants such as AutoZone, Gold’s Gym, WalMart Neighborhood Market, McDonald’s, Carl’s Jr. and Chevron.