92 Willow St
Torrington, CT 06790
Walgreens | Rent Increases | 8.5% CAP | $1.3M · Retail Property For Sale

Pharma Property Group has been exclusively retained by ownership to present for sale the opportunity to acquire the leasehold interest of a Walgreens property in Torrington, Connecticut. This leasehold is available for purchase and operates on a double net lease basis with 4 years and 5 months remaining, with three (5-year) options to follow with Landlord responsible for roof and structure. Landlord received confirmation that this lease has been assumed by Walgreens in 2018 with their acquisition of ±1,900 Rite Aid locations. This store is now operating as a Walgreens pharmacy. Tenant recently exercised its first option on this leasehold showing commitment to this location. This is a leasehold that allows for an approximate 11% rental increase in each of the three (5 year) remaining options. The subject property is located in the heart of the Torrington historical district on the main thoroughfare through Torrington. It is also less than a half mile away from Torrington Plaza, a 125,729 square foot shopping center anchored by Staples, TJ Maxx and Dollar General. Other tenants in the center are Joann Fabrics, Payless ShoeSource, Domino's and Bank of America. Torrington is a suburb approximately 26 miles west of downtown Hartford, the capital and fourth largest city in the state of Connecticut. The subject property is located in the heart of the historical district just two blocks from the James H. Darcey Memorial Highway (Highway 8), the main thoroughfare through Torrington.