12011 E Iliff Ave
Aurora, CO 80014

The subject property is an 11,034 square-foot Walgreens Pharmacy with a drive-thru located in the extremely dense and populous city of Aurora, CO. Aurora, which is part of the Denver MSA, is located approximately 10 miles southeast of downtown Denver. Walgreens signed a 25-year lease, which commenced in December 2007, leaving approximately 8.75 years remaining on the tenant’s initial lease term. The lease is absolute NNN, providing for zero landlord responsibilities.
Walgreens, which is publicly traded on NASDAQ under the ticker symbol “WBA”, has a current “BBB-” investment grade credit rating by Standard & Poor’s and reported annual revenues of over $139 billion in 2023. Walgreens is also ranked #18 on the 2023 Fortune 500 list.
Walgreens is strategically located at the signalized, hard corner intersection of E. Iliff Avenue and S. Peoria Street, with combined daily traffic counts in excess of 69,002 vehicles. The subject property is well positioned along the area’s main retail and traffic corridor and features excellent ingress and egress along both traffic corridors allowing commuters easy access from all traffic patterns. Aurora’s highly desirable and infill submarket consists of 2.2M SF of retail boasting a 3.7% vacancy rate as of Q3 2023. Walgreens is located adjacent to Iliff Square and directly across from Iliff Commons, composed of regional and lifestyle tenants, allowing the property to benefit from crossover traffic. In addition, the property is within one mile of the Havana Retail District, which is Aurora’s strongest retail corridor featuring a strong roster of national/ credit tenants including Target, Lowe’s, Costco Wholesale, Safeway, Kohl’s, Dick’s Sporting Goods, Sprouts, Office Depot, and many others.
The subject Walgreens is a high-performing relocation store, and benefits from being the closest Walgreens (and national pharmacy chain) to the Medical Center of Aurora. The 346-bed hospital spans over 43 acres and includes eighteen buildings and over 1,200 employees making it the largest healthcare system in the metro area. The surrounding area is densely populated with over 169,200 residents within a 3-mile radius, including 79,632 housing units, and boasts a 3% vacancy rate exemplifying the strength of the market.