Net leased Walgreens for sale

www.bouldergroup.com

NET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERING

WalgreensWalgreensWalgreensWalgreens 9350 Highway 6 South9350 Highway 6 South9350 Highway 6 South9350 Highway 6 South Houston, TX 77083Houston, TX 77083Houston, TX 77083Houston, TX 77083

NET LEASED INVESTMENT OFFERING


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Confidentiality & Disclaimer

Executive Summary

Property Overview

Aerial

Site Plan

Map

Tenant Profile

Demographic Comparison Report

Location Overview

Contact Information

TABLE OF CONTENTS

TABLE OF CONTENTSTABLE OF CONTENTSTABLE OF CONTENTSTABLE OF CONTENTS



The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

CONFIDENTIALITY & DISCLAIMER

CONFIDENTIALITY & DISCLAIMERCONFIDENTIALITY & DISCLAIMERCONFIDENTIALITY & DISCLAIMERCONFIDENTIALITY & DISCLAIMER



The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property located in

Houston, Texas. The 15,020 square foot Walgreens has 18 years remaining on its primary lease term. This is a proven

location for Walgreens as evidenced by a recent lease extension. The recent extension solidifies Walgreens’ lease through

January 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 located

in a primary retail trade area across the street from a Kroger anchored shopping center with other tenants including Bank

of America, Starbucks and Mattress Firm. Other retailers in the immediate area include Home Depot, LA Fitness, and Ace

Hardware. Additionally, the property benefits from a population in excess of 323,000 within five miles of the property and

an 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 renewal

options 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’s

rating of BBB.

• Located within the Houston MSA

• Proven location for Walgreens as evidenced by recent lease extension (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 one mile of the property

• Over 323,000 people living within five miles of the property

• Positioned across the street from a Kroger anchored shopping center

• Retail trade area includes Home Depot and LA Fitness

INVESTMENT HIGHLIGHTS

EXECUTIVE SUMMARY

EXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARY



Price: $5,280,000

Cap Rate: 6.00%

Net Operating Income: $316,800

Renewal Options: Eight 5-Year

Lease Commencement Date: January 21, 2001

Lease Expiration Date: January 31, 2031

Tenant: Walgreens

Credit Rating: BBB (Standard & Poor’s)

Year Built 2001

Lease Type: NN (Roof, Structure and Parking Lot Replacement)

Rentable Square Feet: 15,020

Land Acreage: 1.92

PROPERTY OVERVIEW

PROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEW



AERIALAERIALAERIALAERIAL

AERIAL



SITE PLANSITE PLANSITE PLANSITE PLAN

SITE PLAN



MAP

MAPMAPMAPMAP



Website: www.walgreens.com

Number of Locations: 8,300

Stock Symbol: WAG : NYSE

Standard & Poor’s Rating: BBB

Market Capitalization: $46 billion

Walgreens is engaged in the retail drugstore business. As of April 30, 2011, the Company operated nearly 8,300

locations in all 50 states, the District of Columbia, Puerto Rico and Guam. The company also operates worksite

health centers, home care facilities, and specialty and mail service pharmacies. Its Take Care Health Systems

subsidiary manages more than 715 in-store convenient care clinics and worksite health and wellness centers. The

Company’s drugstores are engaged in the retail sale of prescription and non-prescription drugs and general

merchandise. General merchandise includes, among other things, household items, personal care, convenience

foods, beauty care, photofinishing, candy, and seasonal items. Walgreens offers customers the choice to have

prescriptions filled at the drugstore counter, as well as through the mail, by telephone, and through the Internet. In

March 2011, Walgreens announced that it has completed the acquisition Drugstore.com.

TENANT PROFILE

TENANT PROFILETENANT PROFILETENANT PROFILETENANT PROFILE



PopulationPopulationPopulationPopulation 1111----mi.mi.mi.mi. 3333----mimimimi 5555----mimimimi

Total Population 19,005 157,535 323,439 Total Households 5,544 46,728 105,095

IncomeIncomeIncomeIncome

Median Household Income $67,617 $55,985 $52,373 Average Household Income $91,192 $74,058 $70,633

DEMOGRAPHIC COMPARISON REPORT

DEMOGRAPHIC 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 million

people. Houston is recognized worldwide as a major part of the energy industry, more

specifically 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 Workforce

Commission

The Houston metropolitan area is projected to grow by 2.66 million people from 2000

to 2033 by Woods & Poole Economics, ranking it fifth in the nation. Houston is

second, only to New York City, in Fortune 500 Com

They include ConocoPhillips, Marathon Oil and Sysco. The Texas Medical Center, the largest medical center in the

world, is also located in Houston.

www.houstontx.gov



LOCATION OVERVIEW

LOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEW

is the largest city in Texas and the fourth largest city in the United States.



Houston is recognized worldwide as a major part of the energy industry, more



Commission reported year over year job growth of 2.6%.



second, only to New York City, in Fortune 500 Company headquarter locations.


LOCATION OVERVIEW

is the largest city in Texas and the fourth largest city in the United States.



Houston is recognized worldwide as a major part of the energy industry, more





pany headquarter locations. They




666 Dundee Road Suite 1801 Northbrook, IL 60062

Randy Blankstein President 847.562.0003 [email protected]

Jimmy Goodman Partner 847.562.8500 [email protected]

CONTACT INFORMATION

CONTACT INFORMATIONCONTACT INFORMATIONCONTACT INFORMATIONCONTACT INFORMATION

Net leased Walgreens for sale

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