Walgreens Drugstore - LoopNet...Walgreens created the first global pharmacy led, health and...

Walgreens Drugstore

The Silver Group1050 Northgate Drive #500San Rafael, CA 94903 www.thesilver-group.com

Barry SilverEmail: [email protected]: (415) 461 - 0600

SWC Louetta Road & Vintage Preserve Parkway Houston, Texas 77070

Single Tenant Solutions

Greg Cunha Email: [email protected]: (415) 461 - 0600

• newconstruction• investmentgradecompany

• nation’sLeadingdrugretaiLer• HardcornerinwHoLeFoodscenter

• a++Location• incometaXFreestate

SINGLE TENANTCREDIT INVESTMENT OFFERING

Representative Property Photo

Walgreens Drugstore

The Silver Group • Phone: (415) 461 - 0600



The information contained herein has been received from sources we believe to be reliable, but we have made no independent investigation of the accuracy or completeness and make no representation thereto. The above is subject to errors, omissions, or withdrawal from the market. THIS IS AN EXCLUSIVE OFFERING OF THE SILVER GROUP. All interested iinvestors should conduct a thorough due diligence investigation.

Annual Rent:

Option Rent:

* Earliest Close of Escrow Date is November 17, 2017

Land Area: ± 1.698 Acres (± 73,949 SF)Building Area: ± 14,820 SF w/ drive through

Population: 102,414 3 milesAverage HH Incomes: $113,837 3 miies

Purchase Price: $7,897,657Cap Rate: 5.25%

Rent Start Date: September 15, 2017

The subject property is a single tenant walgreens drugstore located in northwest Houston, Texas. The Property consists of a freestanding ± 14,820 sf building, with drive through window, on ± 1.7 acres of land at the signalized intersection of Louetta Road and Vintage Preserve. This store will replace a successful, smaller format store 1/2 mile to the west at Louetta Rd. and Jones Rd. Relocation

stores benefit from the existing business that will transfer to this new location. The anticipated rent commencement is September 15, 2017. The Seller would like to close the sale after November 17, 2017. This area is experiencing dynamic commercial and residentail growth. Walgreens has selected this outstanding location within the vintage shopping center, a whole Foods grocery anchored retail center with a number of restaurants venues. The Vintage is a 630 acre, master planned community comprised of 670,000 sf of retail/office, 337,000 sf of medical, 1,600 homes and 1,500 apartments.The average household incomes in the area exceed $125,000. Some nearby traffic generators include vintagepark(lifestylecenter),target,Homedepot,HeBgrocery,24HourFitness,Hewlettpackard,nobleenergy,Lonestarcollege-universitypark,u.s.memorycare,FirstchoiceHospital/er,st.Luke’sHospital,aldiFoods,orangetheoryFitness, dunkin donuts, pei wei & mattress Firm. Walgreens - Louetta is an ideal investment for the passive investor seeking long term, reliable cash flow from an investment grade company.

Lease Terms:• Fifteen (15) Year Primary Term • ABSOLUTE NET LEASE - No Landlord obligations• Twelve x 5 year renewal options• Standard percentage rent language

$414,627 years1-15

$414,627 years16-75

Investment Highlights -

Walgreens Drugstore

The Silver Group1050 Northgate Drive #500San Rafael, CA 94903 www.thesilver-group.com

Barry SilverEmail: [email protected]: (415) 461 - 0600



Greg Cunha Email: [email protected]: (415) 461 - 0600

Site Plan -

Walgreens Drugstore




± 27 miles

± 20 miles

Drive Distances -

Walgreens Drugstore




Street Map -

± 35,750 vpd

Walgreens Drugstore




Area Development Concept -

Walgreens Drugstore




Area Traffic Generators -

Walgreens Drugstore




Aerial View -

Walgreens Drugstore




aBouttHearea

Houston is the largest city in Texas and the fourth-largest city in the United States. According to the 2010 U.S. Census, the city had a population of over 2.1 million people within a land area of 600 square miles. Houston is the seat of Harris County, and its metropolitan area is the fifth-largest in the U.S., with over 6 million people.

The port and railroad industry, combined with oil discovery in 1901, has induced continual surges in the city’s population. In the mid-twentieth century, Houston became the home of the Texas Medical Center—the world’s largest concentration of healthcare and research institutions—and NASA’s Johnson Space Center, where the Mission Control Center is located.

Houston’s economy has a broad industrial base in energy, manufacturing, aeronautics, and transportation. It is also leading in health care sectors and building oilfield equipment; only New York City is home to more Fortune 500 headquarters. The Port of Houston ranks first in the United States in international waterborne tonnage handled and second in total cargo tonnage handled. The city has a population from various ethnic and religious backgrounds and a large and growing international community. It is home to many cultural institutions and exhibits, which attract more than 7 million visitors a year to the Museum District. Houston has an active visual and performing arts scene in the Theater District and offers year-round resident companies in all major performing arts. Sports fans have local teams representing all major sports. Major shopping areas offer something to fit every budget - from the exclusive shops in Houston’s Uptown area to the outlet malls just outside the City.

Walgreens Boots Alliance (NASDAQ: WBA) is the first global pharmacy-led, health and wellbeing enterprise in the world. The Company was created through the combination of Walgreens Company and Boots Alliance in December 2014. This

transaction brought together two leading companies with iconic brands, complementary geographic footprints, shared values and a heritage of trusted healthcare service dating back 100 years. The Company has a presence in 25 countries, employs 400,000 people and is the largest retail pharmacy in the USA and Europe. Walgreens is our nation’s leading drug retailer operating 8,184 locations in all 50 states, with revenues exceeding $117 billion in 2016 and profit of $4.2 billion. Walgreens maintains a “BBB” Credit Rating with Standard & Poor’s and “Baa2” with Moody’s. Walgreens stabilized its commercial pharmacy business through multiyear agreements with Express Scripts and Caremark. With the acquisition of Alliance Boots GmbH Walgreens created the first global pharmacy led, health and well-being enterprise. Prescription sales account for 67% of total sales. 76% of the population lives within 5 miles of a Walgreens Drugstore. In late 2015 Walgreens announced the acquisition of Rite Aid, the 3rd largest retail pharmacy chain in the U.S. Same store sales in 2015 were 9.3%. The Company filled 928 million prescriptions in FY 2016.

aBouttHetenantWalgreens Boots Alliance, Inc.

2016 Sales: $117.4 Billion2016 Net Worth: $31.9 Billion

Ratings: S & P: BBB Moody’s: Baa Publicly Traded on NASDAQ (“WBA”)

Walgreens Drugstore




Demographics - Site SelectionMay 30, 2017

Demographic Snapshot Comparison Report for Walgreens Houston (Louetta), (latitude, longitude: 30.001235, -95.559962):

1 mile(s) 3 mile(s) 5 mile(s)

Population: 2016B Total Population 11,989 102,414 262,803 Female Population 49.88% 51.15% 50.97% Male Population 50.12% 48.85% 49.03%Population Density 3,819 3,625 3,348Population Median Age 35.8 38.3 36.1Employed Civilian Population 16+ 6,831 55,321 138,946 % White Collar 69.2% 75.3% 71.5% % Blue Collar 30.8% 24.7% 28.5%Total Q4 2016 Employees 2,365 43,962 98,995Total Q4 2016 Establishments* 394 4,736 11,678 Population Growth 2000-2010 19.89% 31.27% 43.10% Population Growth 2016B-2021 5.43% 10.98% 12.73%

Income: 2016BAverage Household Income $106,363 $113,837 $110,636Median Household Income $77,608 $79,035 $77,736Per Capita Income $40,189 $44,103 $40,140 Avg Income Growth 2000-2010 18.17% 20.28% 22.80% Avg Income Growth 2016B-2021 10.22% 11.39% 11.93%

Households: 2016BHouseholds 4,530 39,660 95,311Average Household Size 2.67 2.58 2.75 Hhld Growth 2000-2010 37.51% 38.72% 46.03% Hhld Growth 2016B-2021 9.77% 12.78% 14.14%

Housing Units: 2016BOccupied Units 4,530 39,660 95,311 % Occupied Units 91.71% 95.30% 95.91% % Vacant Housing Units 8.29% 4.70% 4.09% Owner Occ Housing Growth 2000-2010 10.21% 27.71% 39.27% Owner Occ Housing Growth 2000-2021 22.48% 54.31% 76.00% Owner Occ Housing Growth 2016B-2021 6.06% 11.43% 13.66%Occ Housing Growth 2000-2010 37.51% 38.72% 46.03%Occ Housing Growth 2010-2021 27.92% 26.03% 30.10%Occ Housing Growth 2016B-2021 9.77% 12.78% 14.14%

Race and Ethnicity: 2016B% American Indian or Alaska Native Population 0.65% 0.57% 0.55%

% Asian Population 8.85% 9.81% 10.59%

© 2017 Alteryx, Inc. All rights reserved. Alteryx is a registered trademark of Alteryx, Inc.Alteryx, Inc. - [email protected] - www.alteryx.com - 888 836 4274

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Walgreens Drugstore




Approved by the Texas Real Estate Commission for Voluntary Use

Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

Information About Brokerage Services Before working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly. IF THE BROKER REPRESENTS THE OWNER: The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent. IF THE BROKER REPRESENTS THE BUYER: The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent. IF THE BROKER ACTS AS AN INTERMEDIARY: A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain the written consent of each party to the transaction to act as an intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction: (1) shall treat all parties honestly; (2) may not disclose that the owner will accept a price less that the asking price unless authorized in writing to do so by the owner; (3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and (4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property. With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party. If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.

Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 , 512-936-3000 (http://www.trec.texas.gov)

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

Walgreens Drugstore - LoopNet...Walgreens created the first global pharmacy led, health and...

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