Chatsworth Walgreens

20901 Devonshire St. Chatsworth, CA 91311

Chatsworth WAG 2.JPG
PRICE: 

$11,000,000.00

Tenants

Walgreens, Inc. 

Building Size: 
Price/SF

14,901 SF

$738.00

Challenge

Solution

Cap Rate

5.65%

  • Tenant had 4 years remaining on 25 year term reducing market valuation to a 6.5% CAP rate and increasing perception of risk when going to market. 

  • Tenant rent at $620,000/year was grossly over market demanding a purchase price 40% above average drug store price points. 

  • Through teams experience with drug store ownership, development and tenant relations team aided sellers in negotiating an additional 6 years of term with seller contribution resulting in 10 years of term extension. 

  • With high volume marketing and deep insight into tenants performance and operations the team was able to procure several offers maximizing value. As a result  a sale was facilitated at significant returns for seller preserving their equity appreciation by being able to command a market CAP rate.