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| Walgreens |
2105 East Ruben Torres, Brownsville, Texas
Purchase Price: $4,130,000
• 25 year primary lease
• ABSOLUTE NET LEASE (No landlord responsibilities)
• Ten (10) 5-year options at the same rent
Land Area: ± 1.73 acre, Building Area: ± 14,820 SF
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Willis Ventures is proud to announce the closing of a Walgreens Drugstore in Brownsville, Texas. The property sold for $4,130,000 at a 6.125 capitalization rate. The property is a corporate triple net lease for twenty-five years plus option periods. Brownsville, Texas, is the southern most city in the state with a population over half a million. National tenants near this property include: Circle K, GNC, Target, Best Buy, Kmart, Wal-Mart, Staples, Office Depot, Big Lots, Home Depot, Old Navy, Whataburger, IHOP, Subway, Sonic, McDonald’s and Red Lobster. This lease is an Absolute Net Lease, meaning that the landlord/investor holds absolutely no landlord responsibilities. The tenant is responsible for property taxes, maintenance, roof and structure and the parking area. This type of investment is ideal for an investor who wants a high-credit corporate backed lease free of any management responsibilities.
Walgreens is a pharmacy chain, mail service pharmacy, pharmacy benefit manager, and specialty pharmacy, which has operations throughout the continental United States and Puerto Rico. There are more than 5,700 Walgreens locations in the U.S. Over four million customers are served by Walgreens daily and over 500 million prescriptions are filled annually. Walgreens was founded in Chicago, Illinois in 1901 and has since expanded throughout the United States. Its headquarters are located in Deerfield, Illinois, a suburb of Chicago.
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