3880 Brian Jordan Pl
High Point, NC 27265
Walgreens · Retail Property For Sale

The subject property is a fee-simple NNN Walgreens located at the signalized intersection of Penny Road and West Wendover Avenue in a high growth, high income corridor of High Point, NC, which is located in the Piedmont Triad region (Greensboro/Winston Salem/High Point). The Piedmont Triad region has approximately 1.8 million residents with an expected growth of nearly 80,000 people through 2021. There are several local Fortune 500 firms headquartered in the metro which include: VF Corp., Reynolds American, BB&T Corp., Laboratory Corp. of America, and Hanesbrands. Although High Point is known as the “Home Furnishings Capital of the World”, the economy has diversified as a center for distribution and logistics, customer service, banking, manufacturing, and pharmaceuticals/health services. However, the High Point Market remains a centerpiece to High Point’s economy and the city’s most recognized industry. Its bi-annual trade show is the largest furniture and furnishings industry event in the world, with approximately 12,000 sq. ft. of showroom space that attracts 100,000+/- exhibitors and buyers from over 100 countries. In addition to High Point’s three universities, the downtown area is breaking ground on a new Atlantic League ballpark (BB&T Point) for the new High Point team. The development has raised millions in private fundraising to help build the stadium, as well as a children’s museum, park, and other spaces near the ballpark. BB&T Point is envisioned as the anchor of a larger redevelopment project in downtown. The Walgreens is well positioned on a busy intersection in a dense retail corridor of High Point. Immediate traffic generators in the area include: Belk, Harris Teeter, Walmart Market, BigLots!, Regal Cinemas, Food Lion, McDonald’s, Chick-fil-A, Olive Garden, a new Texas Roadhouse, several banks, and multiple industrial facilities including Fastenal and Harland Clarke. The immediate area is expected to see a high level of growth in population over the next 5 years, with the 1-mile radius expected to increase approximately 20% and the 3-mile population over 14%. In addition, the area is well above the national average household income levels, with the 1 and 3-mile population over $86,000. Walgreens Boots Alliance, Inc. (WAB) signed a long term NNN Lease that commenced rent on January 1, 2012 and expires December 31, 2087 (with the ability to terminate on December 31, 2037 and every 5 years thereafter). The 14,550 +/- sf store is all-brick construction and sits on approximately 1.8 acres. In 2017, WAB reported revenues of $118 billion, net income of $4 billion, and a net worth of $27 billion.