1329 George Dieter DrEl Paso, TX 79936
Walgreens
Asset ClassRetail
STNL Walgreens | Strong Performing Location
Overview
The Boulder Group and Lee & Associates are pleased to exclusively market for sale a single tenant net leased Walgreens property located in El Paso, Texas. Walgreens has been operating at this location since 2008 and the current lease that has approximately 10 years remaining. The subject lease is triple net with no landlord responsibilities and contains 10% rent increases every 10 years in the renewal options. This is a strong performing location for Walgreens, with above average sales. Texas is also an income tax free state.
Investment Highlights
- Investment grade tenant – S&P: BBB
- Tax-free state
- Approximately 10 years remaining with operating history since 2008
- NNN – No landlord responsibilities
- Above average store sales
- 10% rent increases during option periods
- Positioned along George Dieter Drive (56,000 VPD)
- Proximity to Interstate 10 (130,440 VPD)
- Located in Las Palmas Marketplace along with neighboring tenants such as Lowe’s, Kohl’s, Ross, dd’s Discounts, Burlington, Michaels, Boot Barn, Cinemark, Office Depot, and many others
- Less than one-mile northwest of a largely occupied industrial corridor with tenants such as Johnson Controls, Honeywell, XPO Logistics, DHL, Wrangler Jeans, ABC Supply Co, and TORO
- 280,788 people live within a 5-mile radius (not inclusive of the Ciudad Juarez population)
- Average household income is $74,574 within 5 miles
1329 George Dieter DrEl Paso, TX 79936
Sales Team
Listing provided by Revere CRE