111 W Washington Ave
Escondido, CA 92025
Walgreens | San Diego | Exercised Option · Retail Property For Sale

Pharma Property Group has been retained as exclusive agent and is pleased to offer investors the opportunity to acquire a Walgreens in Escondido (San Diego MSA), California. The lease income is guaranteed by Walgreens Corporation (NYSE: WAG) with a credit rating (S&P) of BBB (Investment Grade). Walgreens recently exercised their option and there currently 5.25 years remaining before the Six (5 year) options to follow. This is a double net lease with landlord only responsible for roof and structure. The subject property is surrounded by over 1,600,000 square feet of retail tenants within a two-mile radius. The property is centrally located in a dense infill retail area with over 210,000 people within a 5-mile radius with an average household income of over $83,879. Walgreens is in close proximity to numerous national retailers, multifamily properties and medical offices. Across the street from a 12-acre complex including Escondido City Hall and the California Center for the Arts. The property is one block east of Latitude 33, a 198-unit apartment home community constructed in 2012 and the newly constructed 112-unit Alcove Luxury Apartments. The subject property is located at the signalized corner of West Washington (31,700 vehicles per day) and North Broadway (30,387 vehicles per day) with a combined traffic count of ±62,087 vehicles per day. The property is less than a mile from Interstate 15 which has a daily traffic count of ±272,000 vehicles per day and less than two miles west of SR-78 with a traffic count of 85,000 vehicles per day. Escondido's top employer, Palomar Medical Center is a 319-bed hospital with over 2,600 employees and is the only designated trauma center in northern San Diego County.