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Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present for sale the Walgreens (the “Property” or “Asset”) located at 3490 Bird Road in Miami, FL. The 12,920 SF building was built in 2009 and features an absolute NNN lease with 5.0% increases every five years. This is a rare opportunity to acquire an trophy asset leased to an investment-grade credit tenant in an affluent trade area at a highly attractive yield.
The Property is surrounded by superb local demographics with 18% population growth and an average household income over $120,000 within a one-mile radius. The Property is located near the University of Miami and between two affluent Miami neighborhood, Northeast Coconut Grove and Southeast Coral Gables, which are both more expensive than 96% of US Communities.
- Trophy Asset – Corner Site in the Bustling, International Hub of Miami, FL
- One-Mile Drive from University of Miami, A Sprawling the 240-Acre Campus With Over 17,000 Students Enrolled Annually, $375 Million in Annual Research Expenditures & Over $3.4 Billion in 2021 Net Assets
- Located Between the Communities of Northeast Coconut Grove & Southeast [Coral] Gables With a Median Home Value of $1.5M & $1.3M, Respectively – Both More Expensive Than Over 96% of US Communities
- Located in Strong Lifestyle Corridor Containing 3.5M+ SF of Retail Space & 11,000-Units of Residential Inventory
- Direct Exposure to Over 139,000 VPD via the intersection of South Dixie Highway and Bird Road