Investment Offering
San Antonio, TX - Walgreens
2710 Nogalitos St | San Antonio, TX 78225
Description
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, corporate guaranteed (NASDAQ: WBA), Walgreens investment property located in San Antonio, Texas. The tenant, Walgreen Co., recently signed a brand new 15 year lease with 12 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. Founded in 1901, and representing one of the largest pharmacies in America with over 9,000 retail locations, Walgreens is a pharmaceutical and health destination serving nearly 10 million customers each day. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.
Location
The asset is strategically located at the signalized, hard corner intersection of Nogalitos Street and West Theo Avenue with a combined 32,500 vehicles passing daily. Nogalitos Street is the major retail thoroughfare serving southern San Antonio and provides access onto I-35 (157,600 VPD, I-10 (169,100 VPD), and I-37 (135,300 VPD) making this a centralized location with an extensive trade area. The multiple points of ingress/egress make the property accessible to those located in the immediate, dense residential area, and those in the metropolitan area of San Antonio - the second largest city in Texas. The large concentration of residents is represented in the 5-mile trade area which is comprised of a population of over 310,000 residents and 171,000 employees with an average household income of $58,735. San Antonio in its entirety supports a population of nearly 1.5 million.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215