single tenant net lease Walgreens for sale in Texas

1. www.bouldergroup.com
NET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERING
WalgreensWalgreensWalgreensWalgreens
2300 Pecan Boulevard2300 Pecan Boulevard2300 Pecan Boulevard2300 Pecan Boulevard
McAllen, TX 78501McAllen, TX 78501McAllen, TX 78501McAllen, TX 78501

2. 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

3. NET LEASED INVESTMENT OFFERING
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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
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The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property located in
McAllen, Texas. The property is benefited from its location approximately one-half mile from South Texas College which has
an enrollment of over 31,000 students. Walgreens is committed to the area as evidenced by the recent execution of their
first renewal option for an additional five years.
The property is located on the northwest corner of the signalized intersection of 23rd Street and Pecan Boulevard (Texas
Route 495). This intersection has traffic counts in excess of 42,000 vehicles per day. Additionally, Rio Bank is positioned
adjacent to the property and The Salvation Army is across the street. McAllen has transformed into the retail and leisure
hub of the Rio Grande Valley and McAllen retailers serve a market population of 1.8 million people. The property features a
drive thru pharmacy and benefits from a population in excess of 220,000 within five miles of the property.
Walgreens original twenty year lease term commenced in 1993 and Walgreens recently exercised their first renewal option
for an additional five years through February 2018. Walgreens is a publicly traded company on the New York Stock
Exchange (WAG), with a market capitalization of $48 billion. Walgreens is an investment grade company with a Standard &
Poor’s rating of BBB.
• Proven location as Walgreens recently executed first renewal
option
• Positioned on the hard corner of a signalized intersection
• Investment grade tenant (S&P: BBB)
• Traffic volumes at intersection of 23rd Street and Pecan
Boulevard are in excess of 42,000 (VPD)
• One-Half mile from South Texas College (31,000 students)
• McAllen serves a trade area population of 1.8 million people
INVESTMENT HIGHLIGHTS
EXECUTIVE SUMMARY
EXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARY

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Price: $2,129,487
Cap Rate: 8.00%
Net Operating Income: $170,359
Renewal Options: Five 5-Year remaining
Lease Commencement Date: March 1, 1993
Lease Expiration Date: February 28, 2018
Tenant: Walgreens
Credit Rating: BBB (Standard & Poor’s)
Year Built 1993
Lease Type: NN (Roof & Structure)
Rentable Square Feet: 13,029
Land Acreage: 1.57
PROPERTY OVERVIEW
PROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEW

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AERIALAERIALAERIALAERIAL
AERIAL

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SITE PLANSITE PLANSITE PLANSITE PLAN
SITE PLAN

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MAP
MAPMAPMAPMAP

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Website: www.walgreens.com
Number of Locations: 8,000
Stock Symbol: WAG : NYSE
Standard & Poor’s Rating: BBB
Market Capitalization: $48 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

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PopulationPopulationPopulationPopulation 1111----mi.mi.mi.mi. 3333----mimimimi 5555----mimimimi
Total Population 18,768 104,230 222,060
Total Households 5,943 33,947 70,163
IncomeIncomeIncomeIncome
Median Household Income $23,326 $37,513 $39,137
Average Household Income $35,861 $52,363 $54,699
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORT

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LOCATION OVERVIEW
LOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEW
McAllenMcAllenMcAllenMcAllen is the largest city in Hidalgo County, Texas and the 29th most populous city in
the state of Teas. McAllen is located at the southern tip of Texas in an area known as
the Rio Grande Valley. At the time of the 2010 U.S. Census, McAllen had a population
of 129,877 while the McAllen MSA had a population of 774,769. Today, McAllen is
the 14th fastest growing city in the United State and the fastest growing city in the
state of Texas. McAllen also benefits from its nearly 120,000 part-time visitors every
winter. McAllen is the retail center of South Texas and servers a consumer base of
over 10 million people in a 200 mile radius and an immediate market population of
1.8 million. The city is represented by 40 of America’s top 100 retailers and more
than 80 of Fortune 500’s global manufactures have operations in McAllen.
Companies with manufacturing operations include AT&T, Bissel, Black & Decker, BMW
Delco, Panasonic, Siemens and Sony. McAllen is ranked 12th in overall retail sales and third in the state of Texas in
total retail sales per household and per capita and 6th in total retail sales per household.
McAllen is also home to South Texas College which has a population of over 31,000 students. McAllen has become
the nightlife and entertainment hub of the Rio Grande Valley due to the new development known as 17th Street
Entertainment District. The 17th Street Entertainment District is a constant draw on the weekends for people all over
the Rio Grande.
www.mcallen.net

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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