www.bouldergroup.comNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGNET LEASED I...
NET LEASED INVESTMENT OFFERINGwww.bouldergroup.com1)2)3)4)5)6)7)8)9)10)Confidentiality & DisclaimerExecutive SummaryProper...
NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comThe information contained in the following Offering Memorandum is propri...
NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comThe Boulder Group is pleased to exclusively market for sale a single ten...
NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comPrice: $2,129,487Cap Rate: 8.00%Net Operating Income: $170,359Renewal Op...
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: 8,000Stock Symbol: WAG : ...
NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comPopulationPopulationPopulationPopulation 1111----mi.mi.mi.mi. 3333----mi...
NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comLOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEWLOCA...
NET LEASED INVESTMENT OFFERINGwww.bouldergroup.com666 Dundee Road Suite 1801Northbrook, IL 60062Randy BlanksteinPresident8...
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Single Tenant Net Lease Walgreens for sale

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single tenant net lease Walgreens for sale in Texas

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Transcript of "Single Tenant Net Lease Walgreens for sale"

  1. 1. www.bouldergroup.comNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGWalgreensWalgreensWalgreensWalgreens2300 Pecan Boulevard2300 Pecan Boulevard2300 Pecan Boulevard2300 Pecan BoulevardMcAllen, TX 78501McAllen, TX 78501McAllen, TX 78501McAllen, TX 78501
  2. 2. 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
  3. 3. 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
  4. 4. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comThe Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property located inMcAllen, Texas. The property is benefited from its location approximately one-half mile from South Texas College which hasan enrollment of over 31,000 students. Walgreens is committed to the area as evidenced by the recent execution of theirfirst renewal option for an additional five years.The property is located on the northwest corner of the signalized intersection of 23rd Street and Pecan Boulevard (TexasRoute 495). This intersection has traffic counts in excess of 42,000 vehicles per day. Additionally, Rio Bank is positionedadjacent to the property and The Salvation Army is across the street. McAllen has transformed into the retail and leisurehub of the Rio Grande Valley and McAllen retailers serve a market population of 1.8 million people. The property features adrive thru pharmacy and benefits from a population in excess of 220,000 within five miles of the property.Walgreens original twenty year lease term commenced in 1993 and Walgreens recently exercised their first renewal optionfor an additional five years through February 2018. Walgreens is a publicly traded company on the New York StockExchange (WAG), with a market capitalization of $48 billion. Walgreens is an investment grade company with a Standard &Poor’s rating of BBB.• Proven location as Walgreens recently executed first renewaloption• Positioned on the hard corner of a signalized intersection• Investment grade tenant (S&P: BBB)• Traffic volumes at intersection of 23rd Street and PecanBoulevard are in excess of 42,000 (VPD)• One-Half mile from South Texas College (31,000 students)• McAllen serves a trade area population of 1.8 million peopleINVESTMENT HIGHLIGHTSEXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARY
  5. 5. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comPrice: $2,129,487Cap Rate: 8.00%Net Operating Income: $170,359Renewal Options: Five 5-Year remainingLease Commencement Date: March 1, 1993Lease Expiration Date: February 28, 2018Tenant: WalgreensCredit Rating: BBB (Standard & Poor’s)Year Built 1993Lease Type: NN (Roof & Structure)Rentable Square Feet: 13,029Land Acreage: 1.57PROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEW
  6. 6. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comAERIALAERIALAERIALAERIALAERIAL
  7. 7. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comSITE PLANSITE PLANSITE PLANSITE PLANSITE PLAN
  8. 8. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comMAPMAPMAPMAPMAP
  9. 9. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comWebsite: www.walgreens.comNumber of Locations: 8,000Stock Symbol: WAG : NYSEStandard & Poor’s Rating: BBBMarket Capitalization: $48 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
  10. 10. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comPopulationPopulationPopulationPopulation 1111----mi.mi.mi.mi. 3333----mimimimi 5555----mimimimiTotal Population 18,768 104,230 222,060Total Households 5,943 33,947 70,163IncomeIncomeIncomeIncomeMedian Household Income $23,326 $37,513 $39,137Average Household Income $35,861 $52,363 $54,699DEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORT
  11. 11. NET LEASED INVESTMENT OFFERINGwww.bouldergroup.comLOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEWMcAllenMcAllenMcAllenMcAllen is the largest city in Hidalgo County, Texas and the 29th most populous city inthe state of Teas. McAllen is located at the southern tip of Texas in an area known asthe Rio Grande Valley. At the time of the 2010 U.S. Census, McAllen had a populationof 129,877 while the McAllen MSA had a population of 774,769. Today, McAllen isthe 14th fastest growing city in the United State and the fastest growing city in thestate of Texas. McAllen also benefits from its nearly 120,000 part-time visitors everywinter. McAllen is the retail center of South Texas and servers a consumer base ofover 10 million people in a 200 mile radius and an immediate market population of1.8 million. The city is represented by 40 of America’s top 100 retailers and morethan 80 of Fortune 500’s global manufactures have operations in McAllen.Companies with manufacturing operations include AT&T, Bissel, Black & Decker, BMWDelco, Panasonic, Siemens and Sony. McAllen is ranked 12th in overall retail sales and third in the state of Texas intotal retail sales per household and per capita and 6th in total retail sales per household.McAllen is also home to South Texas College which has a population of over 31,000 students. McAllen has becomethe nightlife and entertainment hub of the Rio Grande Valley due to the new development known as 17th StreetEntertainment District. The 17th Street Entertainment District is a constant draw on the weekends for people all overthe Rio Grande.www.mcallen.net
  12. 12. 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

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