We are happy to announce a recent closing of a high performing Walgreen’s property in Cypress, Texas. This is the second Walgreen’s in the portfolio of three that we were hired to dispose by our long time clients . The client has maximized the value of the investment throughout their hold period and te time has come dispose and reinvest into a property with increased value upside to address the evolving retail market and their respective investment goals. With 9 years on term remaining, we were going against the market trend of Walgreen’s dropping popularity among investors which effectively increased the average Walgreen’s cap rate by 75 basis points in the past 9 months. We procured another California 1031 exchange investor through our broker relationship with Mehdi Star of Colliers whose professionalism and diligence we are very thankful for! We believe this to be a win-win for both our client as well as the buyers.

Investment Highlights

• Investment grade corporate guaranty
• Extraordinary demographics – 12,000 residents with average household income over $157,000 within a 1-mile radius
• Very high store-specific reported sales
• 9.5+/- years on term remaining
• Zero landlord responsibilities
• Income tax-free state
• Double drive-thru
• 40,000+ vehicles daily on the signalized intersection
• High-density of national tenants