Feel bad for any CRE investor/family that 1031 exchanged into one of these Walgreens thinking they were going to have a safe/secure asset for decades... not many could have predicted this a decade ago
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There were variations over the years. Mid-2000’s were 75 years with termination options every 5 years after 25th year.
Then it went to 60 years with terminations options every 5 years after 20th year.
Then went to some rolling termination option after 20th year with a year notice.
Walgreens were always terrible investments.
60 to 75 year leases with flat rents.
Always were ticking time bo--s unless you bought in a compressing capital rate environment….
Not sure if it was hard to predict