Net leased Walgreens for sale
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    Net leased Walgreens for sale Net leased Walgreens for sale Document Transcript

    • www.bouldergroup.comNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGWalgreensWalgreensWalgreensWalgreens9350 Highway 6 South9350 Highway 6 South9350 Highway 6 South9350 Highway 6 SouthHouston, TX 77083Houston, TX 77083Houston, TX 77083Houston, TX 77083
    • NET LEASED INVESTMENT OFFERINGwww.bouldergroup.com1)2)3)4)5)6)7)8)9)10)Confidentiality & DisclaimerExecutive SummaryProperty OverviewAerialSite PlanMapTenant ProfileDemographic Comparison ReportLocation OverviewContact InformationTABLE OF CONTENTSTABLE OF CONTENTSTABLE OF CONTENTSTABLE OF CONTENTSTABLE OF CONTENTS
    • NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comThe information contained in the following Offering Memorandum is proprietary and strictly confidential. It isintended to be reviewed only by the party receiving it from The Boulder Group and should not be made available toany other person or entity without the written consent of The Boulder Group. This Offering Memorandum has beenprepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminarylevel of interest in the subject property. The information contained herein is not a substitute for a thorough duediligence investigation. The Boulder Group has not made any investigation, and makes no warranty orrepresentation. The information contained in this Offering Memorandum has been obtained from sources webelieve to be reliable; however, The Boulder Group has not verified, and will not verify, any of the informationcontained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes nowarranty or representation whatsoever regarding the accuracy or completeness of the information provided. Allpotential buyers must take appropriate measures to verify all of the information set forth herein.CONFIDENTIALITY & DISCLAIMERCONFIDENTIALITY & DISCLAIMERCONFIDENTIALITY & DISCLAIMERCONFIDENTIALITY & DISCLAIMERCONFIDENTIALITY & DISCLAIMER
    • NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comThe Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property located inHouston, Texas. The 15,020 square foot Walgreens has 18 years remaining on its primary lease term. This is a provenlocation for Walgreens as evidenced by a recent lease extension. The recent extension solidifies Walgreens’ lease throughJanuary 2031. Additionally, average household incomes are in excess of $91,000 within one mile of the property.The property is located on the northwest corner of the signalized intersection of Highway 6 South and Bissonnet Street.Highway 6 South is a major thoroughfare, with traffic counts in excess of 56,400 vehicles per day. The property is locatedin a primary retail trade area across the street from a Kroger anchored shopping center with other tenants including Bankof America, Starbucks and Mattress Firm. Other retailers in the immediate area include Home Depot, LA Fitness, and AceHardware. Additionally, the property benefits from a population in excess of 323,000 within five miles of the property andan average household income in excess of $91,000 within one mile of the property.Walgreens recently extended the primary term of the lease through January 2031. The lease has eight 5-year renewaloptions and the lease expires January 2031. Walgreens is a publicly traded company on the New York Stock Exchange(WAG), with a market capitalization of $46 billion. Walgreens is an investment grade company with a Standard & Poor’srating of BBB.• Located within the Houston MSA• Proven location for Walgreens as evidenced by recent leaseextension (18 years remaining)• Investment grade tenant (S&P: BBB)• Positioned on a hard corner of a signalized intersection• Traffic volume along Highway 6 South in excess of 56,400 VPD• Average household income in excess of $91,000 within onemile of the property• Over 323,000 people living within five miles of the property• Positioned across the street from a Kroger anchored shoppingcenter• Retail trade area includes Home Depot and LA FitnessINVESTMENT HIGHLIGHTSEXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARY
    • NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comPrice: $5,280,000Cap Rate: 6.00%Net Operating Income: $316,800Renewal Options: Eight 5-YearLease Commencement Date: January 21, 2001Lease Expiration Date: January 31, 2031Tenant: WalgreensCredit Rating: BBB (Standard & Poor’s)Year Built 2001Lease Type: NN (Roof, Structure and Parking Lot Replacement)Rentable Square Feet: 15,020Land Acreage: 1.92PROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEW
    • NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comAERIALAERIALAERIALAERIALAERIAL
    • NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comSITE PLANSITE PLANSITE PLANSITE PLANSITE PLAN
    • NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comMAPMAPMAPMAPMAP
    • NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comWebsite: www.walgreens.comNumber of Locations: 8,300Stock Symbol: WAG : NYSEStandard & Poor’s Rating: BBBMarket Capitalization: $46 billionWalgreens is engaged in the retail drugstore business. As of April 30, 2011, the Company operated nearly 8,300locations in all 50 states, the District of Columbia, Puerto Rico and Guam. The company also operates worksitehealth centers, home care facilities, and specialty and mail service pharmacies. Its Take Care Health Systemssubsidiary manages more than 715 in-store convenient care clinics and worksite health and wellness centers. TheCompany’s drugstores are engaged in the retail sale of prescription and non-prescription drugs and generalmerchandise. General merchandise includes, among other things, household items, personal care, conveniencefoods, beauty care, photofinishing, candy, and seasonal items. Walgreens offers customers the choice to haveprescriptions filled at the drugstore counter, as well as through the mail, by telephone, and through the Internet. InMarch 2011, Walgreens announced that it has completed the acquisition Drugstore.com.TENANT PROFILETENANT PROFILETENANT PROFILETENANT PROFILETENANT PROFILE
    • NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comPopulationPopulationPopulationPopulation 1111----mi.mi.mi.mi. 3333----mimimimi 5555----mimimimiTotal Population 19,005 157,535 323,439Total Households 5,544 46,728 105,095IncomeIncomeIncomeIncomeMedian Household Income $67,617 $55,985 $52,373Average Household Income $91,192 $74,058 $70,633DEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISONDEMOGRAPHIC COMPARISONDEMOGRAPHIC COMPARISONDEMOGRAPHIC COMPARISON REPORTREPORTREPORTREPORT
    • HoustonHoustonHoustonHouston is the largest city in Texas and the fourth largest city in the United States.According to the 2010 US Census, Houston had a population of 2.1 million people.The Houston MSA is the sixth largest metropolitan area in the US with nearly 6 millionpeople. Houston is recognized worldwide as a major part of the energy industry, morespecifically oil and natural gas. The Houston MSA has an unemployment rate of 8.6%,which is 0.50% lower than the national average. In August 2011, the Texas WorkforceCommissionThe Houston metropolitan area is projected to grow by 2.66 million people from 2000to 2033 by Woods & Poole Economics, ranking it fifth in the nation. Houston issecond, only to New York City, in Fortune 500 ComThey include ConocoPhillips, Marathon Oil and Sysco. The Texas Medical Center, the largest medical center in theworld, is also located in Houston.www.houstontx.govNET LEASED INVESTMENT OFFERINGwww.bouldergroup.comLOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEWis the largest city in Texas and the fourth largest city in the United States.According to the 2010 US Census, Houston had a population of 2.1 million people.The Houston MSA is the sixth largest metropolitan area in the US with nearly 6 millionHouston is recognized worldwide as a major part of the energy industry, morespecifically oil and natural gas. The Houston MSA has an unemployment rate of 8.6%,which is 0.50% lower than the national average. In August 2011, the Texas WorkforceCommission reported year over year job growth of 2.6%.The Houston metropolitan area is projected to grow by 2.66 million people from 2000to 2033 by Woods & Poole Economics, ranking it fifth in the nation. Houston issecond, only to New York City, in Fortune 500 Company headquarter locations.They include ConocoPhillips, Marathon Oil and Sysco. The Texas Medical Center, the largest medical center in theLOCATION OVERVIEWis the largest city in Texas and the fourth largest city in the United States.According to the 2010 US Census, Houston had a population of 2.1 million people.The Houston MSA is the sixth largest metropolitan area in the US with nearly 6 millionHouston is recognized worldwide as a major part of the energy industry, morespecifically oil and natural gas. The Houston MSA has an unemployment rate of 8.6%,which is 0.50% lower than the national average. In August 2011, the Texas WorkforceThe Houston metropolitan area is projected to grow by 2.66 million people from 2000to 2033 by Woods & Poole Economics, ranking it fifth in the nation. Houston ispany headquarter locations. TheyThey include ConocoPhillips, Marathon Oil and Sysco. The Texas Medical Center, the largest medical center in the
    • NET LEASED INVESTMENT OFFERINGwww.bouldergroup.com666 Dundee Road Suite 1801Northbrook, IL 60062Randy BlanksteinPresident847.562.0003rblank@bouldergroup.comJimmy GoodmanPartner847.562.8500jimmy@bouldergroup.comCONTACT INFORMATIONCONTACT INFORMATIONCONTACT INFORMATIONCONTACT INFORMATIONCONTACT INFORMATION