Retail

Walgreens - FM 1960 Road - Houston, TX

4530 FM 1960 Rd W Houston, TX United States 77069-4602
Asking Price
Sq. Footage 14,950
NOI Net Operating Income
Cap Rate 5.25%

Attributes

Lease Type NNN
Current / Passing Rent
Lease Expiration 2034-08-14
Remaining Term 14 years, 6 months
Tenant Walgreens Company
Lot Size 1.54 ACRES

Property Description

JLL is pleased to exclusively offer a premier ground lease opportunity to acquire a single-tenant property leased to Walgreen Drugs (the “Property“ or the “Asset”) in Houston, TX. 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, an investment grade tenant (BBB/Stable (S&P)); has occupied the property since 2014, with 14.9 years remaining on the primary term of the lease.


Investment Highlights

  • Rare Walgreens ground lease with zero landlord responsibilities
  • 10% increases within renewal periods
  • Preeminent Houston location with over 80,000 VPD
  • Exceptional retail submarket fundamentals
  • Affluent demographic profile with growth trends
Alex Sharrin
Alex Sharrin
SVP, Capital Markets
Licensed in
IL - 475.170243
Ryan West
Senior Managing Director

JLL  financing

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