Below Market Rent/Top 1400 Walgreens - Tulsa

Positioned at the signalized intersection of 15th Street and Lewis Avenue, this Walgreens occupies a highly visible infill location in the heart of Midtown Tulsa, one of the city's most established and affluent trade areas. The property serves the dense residential neighborhoods surrounding Cherry Street, Swan Lake, Maple Ridge, and Utica Square while benefiting from its proximity to Downtown Tulsa, major medical facilities, and the University of Tulsa. The store sits along South Lewis Avenue, a major north-south corridor connecting Midtown Tulsa with Downtown and South Tulsa. The location is surrounded by some of Tulsa's most desirable residential neighborhoods and is minutes from the city's premier retail, dining, entertainment, and employment destinations. Nearby attractions include the Cherry Street entertainment district and the upscale Utica Square shopping district, both of which draw consumers from throughout the metropolitan area. Overall, this corner and corridor combines affluent demographics, dense housing, medical demand, and proximity to Tulsa's highest-end retail concentration.Walgreens has been in operation at this store for over 30 years and appears poised to continue that run of successful occupancy. Built in 1993, with an initial twenty year firm term, this Walgreens has seen three options exercised (at this in-place rent) over the last fifteen years. Most recently, Walgreens exercised its option in 2023, demonstrating its commitment to the site as well as the success of the store. The ranking data on the previous page, highlights its position in Walgreens portfolio as an ultra strong performer in the country...at a hard to find, low annual rent. Investors may view the potential for a 2028 renewal as supported by a rare combination of objective factors: more than 30 years of continuous occupancy, three consecutive option exercises, below-market rent, exceptional store performance, one of Walgreens' highest foot-traffic rankings in the nation, and a premier infill location at a dominant retail intersection. While no lease renewal can ever be guaranteed, these characteristics collectively suggest this location is well positioned to remain an important part of Walgreens' long-term operating portfolio.