Walgreens

Walgreens – Stamford, Connecticut (Fairfield County – New York City Metro Area)

The single-tenant Walgreens located in Stamford, Connecticut, represents an exceptional net lease investment opportunity in one of the most prestigious suburban markets in the United States. With a long-term absolute triple-net (NNN) lease backed by Walgreens Boots Alliance—an investment-grade, Fortune 500 company—this property offers secure, passive income in an irreplaceable location. Stamford is a thriving economic center in Fairfield County and a major satellite city within the New York City Metropolitan Area. The combination of an essential-service tenant, institutional-quality lease structure, and top-tier suburban real estate makes this asset ideally suited for 1031 exchange investors, private equity funds, family offices, and institutional portfolios.

Backed by a corporate-guaranteed lease from one of America’s most well-known pharmacy chains, this Walgreens offers not only income stability but also long-term upside driven by irreplaceable real estate fundamentals, strong consumer demand, and continued population growth within the surrounding region.

Tenant Overview – Walgreens Boots Alliance

Walgreens Boots Alliance (NASDAQ: WBA) operates more than 8,000 retail pharmacy locations across the United States and serves as a daily essential stop for over 10 million customers. As a national leader in retail healthcare, Walgreens provides prescription fulfillment, chronic care support, over-the-counter medications, immunizations, health screenings, and convenience items—all under one roof. The company’s business model is recession-resistant, insurance-driven, and increasingly integrated with in-store and digital healthcare services.

For net lease investors, Walgreens offers a unique combination of brand strength, credit reliability, and consistent operational success:

• Investment-grade credit rating (S&P: BBB)
• Corporate-guaranteed leases across the United States
• Proven business model with resilient cash flow and essential service classification
• Long-term real estate commitment in high-barrier markets
• High renewal probability due to prescription-based customer loyalty

Walgreens’ investment into co-located primary care clinics, remote patient monitoring, and digital prescription platforms ensures its long-term relevance in the evolving healthcare ecosystem.

Lease Structure – Absolute Triple-Net (NNN)

This Walgreens operates under an absolute triple-net lease—one of the most desirable lease structures for investors. The tenant is fully responsible for all operating and capital expenses related to the property, including:

• Real estate taxes
• Property insurance
• Roof and structural maintenance
• Utilities, upkeep, and repairs
• All site-level maintenance and capital improvements

The landlord bears zero financial responsibility, creating a truly passive income stream with dependable rent collection backed by Walgreens’ corporate credit. This type of lease structure is ideal for investors seeking long-term, set-it-and-forget-it ownership, particularly for retirement planning, wealth preservation, or fixed-income portfolio balancing.

Key lease characteristics typically include:

• 15 to 25-year original term (depending on lease vintage)
• Multiple 5-year renewal options
• Scheduled rental escalations (in options or built-in)
• Strong historical lease renewal trends at high-performing locations

Market Overview – Stamford, CT (Fairfield County – NYC Metro)

Stamford is the third-largest city in Connecticut and a major economic and cultural center within the greater New York City metro area. Located just 35 miles northeast of Midtown Manhattan, Stamford is home to more than 135,000 residents and a thriving business district that includes the headquarters and regional offices of Fortune 500 companies in finance, insurance, consumer goods, and healthcare.

Key economic drivers and attributes of Stamford:

• Strong commuter connectivity via Metro-North Railroad and I-95
• Highly educated workforce with more than 50 percent holding a bachelor’s degree or higher
• Headquarters of Charter Communications, Synchrony Financial, WWE, and multiple investment firms
• Proximity to Greenwich, Norwalk, and New Canaan—affluent neighboring towns with multimillion-dollar household incomes
• Excellent school systems and nationally ranked healthcare infrastructure
• Dynamic downtown with luxury residential, Class A office towers, retail, and hospitality

Stamford combines the walkability and density of a small urban center with the affluence and demographic strength of Fairfield County. It remains one of the most desirable suburban communities in the Northeast due to its mix of employment opportunities, proximity to New York City, and high quality of life.

Demographics and Consumer Demand

Walgreens in Stamford benefits from a premier demographic profile. Within a 5-mile radius:

• The population exceeds 200,000 residents
• Median household income is over $120,000
• A significant portion of the population is over 50, indicating consistent prescription needs
• A highly insured population with strong access to employer-based and private healthcare
• Dense residential base, including high-rise apartments, single-family homes, and senior living communities
• Large number of healthcare professionals and corporate employees requiring convenience-based services

These demographics translate into stable and recurring prescription volume, over-the-counter product demand, and in-store clinic traffic. Walgreens thrives in these settings by offering convenience, insurance support, immunizations, and preventative healthcare in a retail-accessible format.

Real Estate and Site Overview

The Walgreens property in Stamford is strategically located on a high-traffic corridor with significant visibility, accessibility, and co-tenancy. The site is consistent with Walgreens’ national standards and includes features that support long-term operational success:

• Freestanding construction with full signage visibility
• Drive-thru pharmacy window to enhance prescription convenience
• Ample surface parking with ADA compliance
• Direct ingress and egress from arterial streets or signalized intersections
• Proximity to grocery stores, clinics, QSRs, and dense residential neighborhoods
• Constructed to high retail development standards with long-term viability in mind

Real estate in Fairfield County, particularly along the I-95 and Metro-North corridor, is among the most supply-constrained in the U.S. Zoning limitations, high land values, and strong local opposition to new development ensure minimal future competition, preserving long-term tenant occupancy and property value.

Corporate Profile – Walgreens Boots Alliance

Walgreens continues to evolve beyond the traditional retail pharmacy model. In addition to its prescription and convenience operations, the company is becoming a key player in national healthcare delivery.

Corporate highlights:

• Publicly traded on NASDAQ under ticker WBA
• Over $130 billion in annual revenue
• More than 225,000 employees worldwide
• Strategic expansion into in-store healthcare via VillageMD and other partnerships
• Significant investment in digital prescription fulfillment and patient portals
• BBB credit rating from S&P Global Ratings

As healthcare becomes more localized and integrated with technology, Walgreens is at the forefront of redefining community-based care. The company’s transformation from retail pharmacy to hybrid healthcare provider ensures its locations remain highly relevant—and its leases continue to attract risk-averse, income-seeking investors.

Investment Highlights

• Absolute NNN lease with no landlord responsibilities
• Corporate-backed lease from Walgreens Boots Alliance
• Located in Stamford, CT – one of the most affluent cities in the New York Metro Area
• Surrounded by a highly educated, high-income, and dense population
• Recession-resistant tenancy with essential-service business model
• Ideal for 1031 exchange buyers or institutional capital allocations
• Prime suburban real estate with high barriers to entry and limited competition
• Long-term income security with corporate credit and strong site fundamentals
• Near major highways, healthcare providers, public transit, and office campuses

Conclusion

The Walgreens property in Stamford, Connecticut is a blue-chip net lease investment offering secure, long-term cash flow, institutional-grade tenancy, and irreplaceable suburban real estate within one of the wealthiest and most stable metro areas in the United States. With an absolute NNN lease structure and a corporate guarantee from an essential-service tenant, this asset delivers both income reliability and long-term real estate value.

Its position in Fairfield County ensures a deep and diverse consumer base, strong co-tenancy, and minimal development risk. Whether used as a 1031 exchange replacement or a fixed-income hedge in a larger portfolio, this Walgreens stands out as a high-quality, long-duration investment in a market where supply is limited and demand remains exceptionally strong.