Retail

Walgreens - Laredo, TX

Documents

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Attributes

Building Area Net
Occupancy 100.0 %

Portfolio description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire the fee-simple interest in a Walgreens located at 7610 McPherson Road, in Laredo, TX (the “Property” or “Asset”). Laredo, TX is an affluent suburb of Webb County. Laredo has seen massive population growth in the last decade, nearly 15%. The Asset is in the heart of Laredo’s retail trade area situated at the hard corner of McPherson Road and E. Del Mar Boulevard (53,000 VPD). The Property benefits from close proximity to the HEB Grocery anchored retail plaza as well as additional surrounding national retailers in the trade area including Chipotle, Target, Best Buy, Starbucks, 7Eleven, Wendy's, Lowes, and Walmart.

The Asset recorded $4.5 million in annual sales in 2021 and due to its success, recently executed on a brand-new absolute NNN 15-year lease with 5.0% rent bumps every 5-years. Following the 15-year in-place lease term, there are twelve (12) 5-year extension options subject to 5.0% rent increases. 




BROKER OF RECORD: ANDREW LEVY

Investment Highlights

  • Strong Performing Store - $4.5 Million Annual Sales YE 2021
  • Massive Population Growth - 15% Over The Last Decade
  • Brand New 15-Year Lease - With Rental Bumps Every 5-Years
  • Absolute NNN Lease Structure - Zero Landlord Responsibilities  
  • Main Retail Trade Area (53,000 VPD) - Adjacent To HEB Anchored Plaza
  • Strong Demographics - Webb Country, TX
  • Investment Grade Tenancy (S&P: BBB)


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Walgreens - Laredo, TX (1 Properties)
#11816- Laredo, TX
Laredo, TX, United States
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Last Updated Date: 09 Aug 2022

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