Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Key Facts

Year Built 2014
Lease Type NNN
Current / Passing Rent
Lease Expiration 2034-08-14
Remaining Term 14 years, 1 month
Tenant Walgreens Company
Building Area
Land Area
Last Updated Date 26 Jun 2020

Property Description

JLL is pleased to exclusively offer a exceptional opportunity to acquire the fee-simple interest in a single-tenant property leased to Walgreen Co. in Houston, Texas. The property is situated on a 1.54 acre corner parcel between Stuebner Airline Dr. and FM 1960 RD W, a four-way, signalized intersection. One of the busiest intersections in Northwest Houston, the property is adjacent to local demand drivers - Ross, Starbucks, Hobby Lobby, and Petco. Walgreen Co., an investment grade tenant (S&P: ‘BBB / Stable’), has occupied the property since 2014 and recently signed a brand new lease.

Investment Highlights

  • Brand new 15-year absolute NNN lease
  • Rare primary term increases (5% every 5 years)
  • Direct frontage along primary retail thoroughfare with 80,000 VPD
  • Dense and affluent surrounding demographic base with and AHHI of $90,000
  • Investment grade tenancy
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
License details
IL - 475.170243
Nicholas Kanich
Senior Director, Capital Markets

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