Walgreens 9005 N Navarro Street -...

NET LEASE INVESTMENT OFFERING

Walgreens 9005 N Navarro StreetVictoria, TX 77904


NET LEASE INVESTMENT OFFERINGNET LEASE INVESTMENT OFFERING

TABLE OF CONTENTS

I. Executive Summary

Executive SummaryInvestment HighlightsProperty Overview

II. Location Overview

Site PlanAerialsMapPhotos

III. Market & Tenant Overview

Tenant ProfileLocation OverviewDemographics


DISCLAIMER STATEMENT

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. The owners or direct family members are licensed real estate brokers in the State of Illinois.

DISCLAIMER STATEMENT:


EXECUTIVE SUMMARY

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property located in Victoria, TX. This is a high performing location with above average sales and a long term lease. The property is strategically located at a signalized intersection in a thriving retail corridor. The Walgreens features a drive-thru and has excellent visibility and easy access.

The 14,820 square foot Walgreens is outparcel to a Kohl’s and Academy Sports anchored shopping center and located across from Sam’s Club and Walmart Supercenter. Additionally, the property is located along the primary north-south thoroughfare for the region. The property is just north of Texas State Highway Loop 463 which experiences 21,000 vehicles per day and Victoria Mall (70+ stores) which is anchored by JCPenney, Dillard’s and Sears. Other national retailers in the immediate vicinity include Home Depot, Lowe’s, Target, Cinemark 12 and AT&T. There are 22,829 people living within a three mile radius of the property earning an average household income of $83,910 per year.

Walgreens has approximately sixteen years remaining on their lease which expires January 31, 2034 and features ten 5-year renewal option periods. The lease is absolute triple net with zero landlord responsibilities. The property is located in Victoria, Texas which is located 30 miles inland from the Gulf of Mexico. Victoria serves a retail trade area of over 250,000 people and is projected to grow 1.69% annually. Walgreens is publicly traded on the Nasdaq Stock Market (symbol: WBA) with a market capitalization in excess of $88 billion. Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment grade rated each with a Standard & Poor’s rating of BBB.

EXECUTIVE SUMMARY:


INVESTMENT HIGHLIGHTS

• Long term lease with approximately 16 years remaining

• Triple net lease with no landlord responsibilities

• Investment grade rated tenant (S&P: BBB)

• Above average sales

• Drive-thru pharmacy

• Excellent visibility and convenient access

• Positioned at the corner of a signalized intersection

• Located directly across from Walmart Supercenter and Sam’s Club

• Other national retailers in the immediate vicinity include Kohl’s, Academy Sports, AT&T, Home Depot, Lowe’s, Target and Cinemark 12

• Texas is an income tax free state

INVESTMENT HIGHLIGHTS:


PROPERTY OVERVIEW

PROPERTY OVERVIEW:

Price: $6,600,000

Cap Rate: 5.34%

Net Operating Income: $352,135

Renewal Options: Ten 5-Year

Lease Commencement Date: January 19, 2009

Lease Expiration Date: January 31, 2034

Tenant: Walgreens

Standard & Poor’s Rating: BBB (Investment Grade)

Year Built: 2009

Lease Type: NNN – No Landlord Responsibilities

Building Size: 14,820 SF

Land Size: 1.29 Acres

Address: 9005 N Navarro St, Victoria, TX 77904


AERIAL


N

Texas Staet Highw

ay Loop 463 (21,000 VPD

)

VICTORIA MALLANCHORED BY JCPENNEY,

DILLARDS, SEARS) (70+ STORES)


AERIAL


N


N NAVARRO STREET

DR

IVE

T

HR

U


SITE PLAN

N


MAPS

N


PHOTOS


TENANT PROFILE

Walgreens Boots Alliance, Inc. operates as a pharmacy-led health and wellbeing company. The company operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of general merchandise, including non-prescription drugs, beauty products, photo finishing, seasonal merchandise, greeting cards, and convenience foods through its retail drugstores and convenient care clinics. It also provides specialty pharmacy services; and manages in-store clinics under the brand Healthcare Clinic. As of January 31, 2017, this segment operated 8,175 retail stores under the Walgreens and Duane Reade brands in the United States; and 7 specialty pharmacy locations, as well as managed approximately 400 Healthcare Clinics. Walgreens Boots Alliance, Inc. was founded in 1901 and is based in Deerfield, Illinois.

The Walgreen Company is the largest drug retailing chain in the United States. The company is publicly traded on the NASDAQ (Symbol: WBA) with a market capitalization in excess of $88 billion. Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment grade rated each with a Standard & Poor’s rating of BBB. In October 2016 Walgreens Boots Alliance received the United Nations Foundation Global Leadership Award for its commitment to the UN’s Sustainable Development Goals.

Website: www.walgreens.comNumber of Locations: 8,175Stock Symbol: WBA (NASDAQ)Standard & Poor’s Rating: BBBMarket Capitalization: $88 Billion

TENANTPROFILE:


LOCATION OVERVIEW

Victoria is the largest city and county seat of Victoria County, Texas. The three counties of the Victoria Metropolitan Statistical Area had a population of 111,163 as of the 2000 census. Victoria is located 30 miles inland from the Gulf of Mexico and is known as “The Crossroads” because of its location within a two-hour drive of Corpus Christi, Houston, San Antonio, and Austin. Victoria is named for General Guadalupe Victoria, who became the first president of independent Mexico.

Victoria’s economy is a mix of education, health, retail, agriculture, and industry. Its access to major highways, the Victoria Regional Airport, railway terminals, the shallow draft Port of Victoria, and the deep water Port of Port Lavaca-Point Comfort help to sustain a healthy environment for business. Major industrial employers in the region include Formosa Plastics Corp, Inteplast Group, Dow, Invista, and Alcoa.

LOCATION OVERVIEW:


DEMOGRAPHICS

DEMOGRAPHIC REPORT: Population 1 Mile 3 Mile 5 Mile

Total Population 4,886 22,829 53,499

Total Households 1,991 8,929 20,620

Income

Median Household Income $65,689 $62,269 $56,055

Average Household Income $80,612 $83,910 $75,262


Randy [email protected]

Jimmy [email protected]

3520 Lake Avenue, Suite 203Wilmette, IL 60091

www.bouldergroup.com

Walgreens 9005 N Navarro Street -...

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