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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
www.bouldergroup.com
1)
2)
3)
4)
5)
6)
7)
8)
9)
10)
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
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
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
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
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
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
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
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AERIALAERIALAERIALAERIAL
AERIAL
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
SITE PLANSITE PLANSITE PLANSITE PLAN
SITE PLAN
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
MAP
MAPMAPMAPMAP
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
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
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
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
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
LOCATION OVERVIEW
LOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEW
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
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 reported year over year job growth of 2.6%.
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 Company headquarter locations.
They include ConocoPhillips, Marathon Oil and Sysco. The Texas Medical Center, the largest medical center in the
LOCATION OVERVIEW
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
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
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
pany headquarter locations. They
They include ConocoPhillips, Marathon Oil and Sysco. The Texas Medical Center, the largest medical center in the
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
666 Dundee Road Suite 1801
Northbrook, IL 60062
Randy Blankstein
President
847.562.0003
rblank@bouldergroup.com
Jimmy Goodman
Partner
847.562.8500
jimmy@bouldergroup.com
CONTACT INFORMATION
CONTACT INFORMATIONCONTACT INFORMATIONCONTACT INFORMATIONCONTACT INFORMATION

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Net leased Walgreens for sale

  • 1. 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
  • 2. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 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
  • 3. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 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
  • 4. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 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
  • 5. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 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
  • 6. NET LEASED INVESTMENT OFFERING www.bouldergroup.com AERIALAERIALAERIALAERIAL AERIAL
  • 7. NET LEASED INVESTMENT OFFERING www.bouldergroup.com SITE PLANSITE PLANSITE PLANSITE PLAN SITE PLAN
  • 8. NET LEASED INVESTMENT OFFERING www.bouldergroup.com MAP MAPMAPMAPMAP
  • 9. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 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
  • 10. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 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
  • 11. 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 NET LEASED INVESTMENT OFFERING www.bouldergroup.com LOCATION OVERVIEW LOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEW 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 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 reported year over year job growth of 2.6%. 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 Company headquarter locations. They include ConocoPhillips, Marathon Oil and Sysco. The Texas Medical Center, the largest medical center in the LOCATION OVERVIEW 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 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 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 pany headquarter locations. They They include ConocoPhillips, Marathon Oil and Sysco. The Texas Medical Center, the largest medical center in the
  • 12. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 666 Dundee Road Suite 1801 Northbrook, IL 60062 Randy Blankstein President 847.562.0003 rblank@bouldergroup.com Jimmy Goodman Partner 847.562.8500 jimmy@bouldergroup.com CONTACT INFORMATION CONTACT INFORMATIONCONTACT INFORMATIONCONTACT INFORMATIONCONTACT INFORMATION