Walgreens

Walgreens – Braintree, Massachusetts (Greater Boston MSA)

This single-tenant Walgreens property in Braintree, Massachusetts offers investors an exceptional opportunity to acquire a long-term, passive net lease asset with zero landlord responsibilities, backed by the full corporate guarantee of Walgreens Boots Alliance. Located in one of the most affluent and high-traffic retail submarkets within the Greater Boston Metropolitan Statistical Area (MSA), this asset combines the strength of a nationally recognized pharmacy tenant with the staying power of a premium New England suburban market.

Featuring an absolute triple-net (NNN) lease, this Walgreens property is ideally suited for investors seeking stability, predictability, and hands-free ownership in one of the most supply-constrained and economically resilient regions in the United States. Braintree’s robust demographics, proximity to Boston, and established healthcare and retail infrastructure create a strong foundation for long-term tenant success and secure cash flow.

This asset is especially attractive to high-net-worth individuals, family offices, REITs, and institutional buyers seeking durable, credit-backed income with upside potential in one of the country’s most coveted suburban markets.

Tenant Overview – Walgreens Boots Alliance

Walgreens Boots Alliance (NASDAQ: WBA) is one of the largest pharmacy and healthcare chains in the United States, with over 8,000 locations nationwide. The company serves more than 10 million customers per day through its network of community-based retail pharmacies, digital health platforms, and healthcare partnerships.

Walgreens is widely regarded as a cornerstone tenant in the single-tenant net lease sector due to its:

• Investment-grade credit rating (S&P: BBB)
• Long track record of profitability and market adaptability
• Corporate-backed lease guarantees across the country
• Recession-resistant business model
• Daily-use, essential service offering focused on healthcare delivery
• Expanding integration with VillageMD and other clinical care providers

For real estate investors, Walgreens’ status as an essential healthcare provider means its operations continue in all market conditions, including public health crises and economic downturns. The company’s ability to evolve through digital expansion and in-store health clinics ensures continued consumer reliance and prescription volume growth.

Lease Structure – Absolute Triple-Net Lease

The Walgreens in Braintree is operated under an absolute triple-net (NNN) lease structure—commonly viewed as the most passive and investor-friendly lease arrangement. Under this structure, the tenant is responsible for all operating costs and property obligations, including:

• Real estate taxes
• Property insurance
• Roof and structure maintenance
• Repairs, capital improvements, and site maintenance
• All utility and operating costs

The landlord bears no financial or management responsibility, making this lease model ideal for investors seeking predictable income with minimal involvement.

This lease structure is especially advantageous for:

• Investors completing 1031 exchanges
• Trust and estate managers seeking reliable distributions
• Retirement accounts (e.g., self-directed IRAs)
• Institutional buyers seeking long-term fixed-income style investments
• Private capital seeking low-risk, asset-backed cash flow

Walgreens’ corporate guarantee further enhances the lease’s security, providing confidence in long-term performance.

Market Overview – Braintree, MA (Greater Boston MSA)

Braintree is a highly desirable suburban community located approximately 12 miles south of downtown Boston. As part of Norfolk County and the Greater Boston MSA, Braintree serves as a commercial, residential, and transportation hub for the South Shore region.

Key attributes of the Braintree market include:

• Strong household income levels well above national averages
• Proximity to I-93 and Route 3, offering direct access to Boston and Cape Cod
• Home to the South Shore Plaza, one of New England’s largest regional shopping malls
• Access to MBTA Red Line and Commuter Rail services, facilitating strong commuter flow
• Excellent public school system and high homeownership rates
• Dense medical infrastructure including South Shore Health and Beth Israel Deaconess branches

As a densely populated and economically affluent suburb, Braintree offers Walgreens access to a stable customer base that relies on prescription services, immunizations, and convenience health products. The property benefits from being in an area with high barriers to entry, limited available land, and strict zoning regulations—all of which preserve long-term retail value.

Demographics and Consumer Demand

The demographics surrounding the Walgreens in Braintree are exceptionally strong and directly support the long-term viability of healthcare-related retail.

Within a 5-mile radius:

• Population exceeds 210,000 residents
• Average household income surpasses $115,000
• Large proportion of insured individuals, supporting prescription volume
• Significant senior population reliant on recurring medications
• Young family households in need of vaccination services and pediatric medications
• Proximity to multiple medical office buildings, urgent care centers, and family medicine clinics

The population in this area is highly educated, health-conscious, and responsive to convenient healthcare solutions—traits that align perfectly with Walgreens’ core offerings. Demand for in-person pharmacy services remains strong, even in the era of digital healthcare, due to Walgreens’ unique ability to blend convenience, insurance fulfillment, and community-based healthcare.

Site Characteristics and Real Estate Fundamentals

The Walgreens in Braintree is positioned along a major thoroughfare with strong visibility and high daily vehicle counts. The site benefits from freestanding construction with full drive-thru pharmacy service, consistent with Walgreens’ preferred national prototype. Real estate features typically include:

• Monument signage with excellent street visibility
• Drive-thru pharmacy for high-volume prescription fulfillment
• Dedicated customer parking and ADA accessibility
• Proximity to grocery stores, medical tenants, schools, and municipal services
• Ingress/egress access from signalized intersections or major arterial routes
• Built to high construction standards for long-term durability

These site characteristics ensure consistent performance and contribute to high tenant retention rates. Walgreens rarely relocates from strong suburban locations, especially in infill areas like Braintree where replacement sites are difficult and costly to develop.

Corporate Strength – Walgreens Boots Alliance

Walgreens Boots Alliance remains one of the most financially secure and operationally consistent tenants in the net lease market. The company continues to grow its reach through integration with in-store healthcare providers and investments in digital services.

Corporate overview:

• NASDAQ-listed under ticker symbol WBA
• Annual revenue exceeding $130 billion
• Over 225,000 employees globally
• S&P credit rating of BBB
• Strong dividend history and consistent free cash flow
• Expansion into primary care with VillageMD clinics across hundreds of locations

Walgreens’ ability to evolve its model ensures long-term relevance in a rapidly changing healthcare and retail landscape. Its ongoing capital investment into clinic co-location, remote fulfillment, and omnichannel support ensures that each brick-and-mortar store continues to play a critical role in the U.S. healthcare system.

Investment Highlights

• Absolute NNN lease with zero landlord obligations
• Corporate lease guarantee from Walgreens Boots Alliance
• High-performing suburban Boston location with strong demographics
• Dense, affluent, and healthcare-reliant population
• Strategically positioned with strong traffic counts and site visibility
• Ideal for 1031 exchange buyers or income-seeking investors
• Long-term passive income in a supply-constrained real estate market
• Walgreens site in a low-vacancy, high-barrier-to-entry corridor
• Strong property fundamentals with recession-resistant tenancy

Conclusion

This Walgreens Pharmacy in Braintree, Massachusetts delivers a rare blend of credit strength, passive ownership, and irreplaceable suburban real estate within one of the most desirable metropolitan markets in the United States. Its absolute triple-net lease, coupled with a long-term corporate guarantee and strong local market fundamentals, makes it an exceptional candidate for any long-term investment strategy.

As demand for healthcare access continues to rise, and as communities seek reliable, local pharmacy providers, Walgreens’ role in neighborhoods like Braintree becomes increasingly vital. Investors can benefit from the security, income, and appreciation potential of owning an essential-service asset in an irreplaceable New England location.