15005 State Road 23
Granger, IN 46530
Walgreens · Retail Property For Sale

Marcus & Millichap is pleased to present this 14,490-square foot Walgreens in Granger, Indiana, located seven miles northeast of South Bend and five miles from the University of Notre Dame. Walgreens is operating under an absolute net lease with zero landlord responsibilities. The lease has more than 10 years remaining along with 10, five-year renewal options. The lease is backed by a corporate guaranty from Walgreen Company, which was ranked number 19 on the Fortune 500 list as of June 2016. The company registered $117.3 billion across more than 8,200 locations in 2016. This asset is located on the signalized, hard corner intersection of Edwardsburg Highway/Indiana-23 and Fir Road, which sees more than 19,000 vehicles per day. The asset benefits from being located in dense retail trade region. There is more than 3.6-million square feet of retail within the two-mile radius. Also in the two-mile radius is the GrandView, a new $100-million development featuring more than 200 residential units, as well as planned office, medical, retail, and restaurant space. This Walgreens is less than five miles from the historic, University of Notre Dame, boasting an enrollment of more than 12,000 students and is the biggest attraction and employer in South Bend. The Saint Joseph Medical Center, a 254- bed hospital, is located two and a half miles south of subject property. This asset also benefits from strong demographics. Since 2010 the population has grown 4 percent, and the average household income in the three-mile radius is more than $97,000.