Walgreens

5297 TX-121, The Colony, TX 75056

$6,066,667

Cap Rate 5.85%

Views: 126 DOM: 301 Updated: 11.14.24 Posted: 01.18.24 Status: Active

Summary

Price $6,066,667	Built/Renov 2022	Tenant Walgreens
Cap Rate 5.85%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 13,650	Lease Start 11-21-2023	#Units 13,532
Price/SF $444.44	Expiration 11-30-2038	Tenant Type Pharmacy
NOI $354,900	R. Term 14.0	Ownership Fee Simple
Rent/SF $26.00	Increases 5.0%/4/yrs	Pop 5Mi 250,560
Lot/AC 1.80	Options 12/5yrs/5%	AHHI 5Mi $151,061

Lease Highlights

Walgreens recently executed a brand-new 15-year lease with 12 (5-year) options to extend
Lease features 5% rental increases every 5 years throughout the initial term and at the start of each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Paige Road and TX-121, boasting a combined daily traffic count of 41,217 vehicles. Moreover, the property runs parallel to the Sam Rayburn Tollway (120,950 VPD). In the surrounding area, there are five hospitality establishments, namely Holiday Inn, Holiday Inn Express & Suites, Staybridge Suites, Tru by Hilton,...

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Key Features

Signalized intersection
Near major nationals
Freeway visibility
Top 100 MSA
Strong demographics
Income tax free state
Brand new lease
Long 10+ yr lease
Traded and rated company
Investment grade tenant

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Links

Walgreens Wikipedia Walgreens Wikipedia The Colony, Texas Zip Code 75056 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Walgreens
Guarantor:Corp T and Rated
Company:Walgreens Boots Alliance
# Units:13,532
Tenant S&P: BBB-
Moody’s: Baa2
Stock: NASDAQ: WBA

About Tenant

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	9,154	93,523	256,590
2023 Total Population :	9,179	90,989	250,560
2023 Employed Civilian Pop :	5,458	54,898	144,698
2023 Total Businesses :	478	2,175	10,468
2023 Average Household Income :	$ 136,539	$ 152,742	$ 151,061
2023 Total Consumer Spending :	$ 417 M	$ 4829 M	$ 13136 M
2023 Median Age :	36	37	37
2023 Total Households :	3,617	37,448	102,421
2023 Pop Age 25+: Bachelor's Degree :	2,298	25,297	69,077
2023 Average Home Value :	$ 422,538	$ 493,382	$ 522,947

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Paige Rd	E Hwy 121	2009	20,260	0.06 mi
		2009	5,790	0.18 mi
Plano Pkwy	Title Dr	2009	9,150	0.27 mi
Arbor Glen Rd	Paige Rd	2009	1,380	0.30 mi
E Hwy 121	Paige Rd	2009	32,066	0.31 mi
Blair Oaks Dr	E Hwy 121	2009	3,430	0.50 mi
State Hwy 121	Plano Pkwy	2009	80,580	0.59 mi
Clover Valley Dr	Avery Ln	2009	1,150	0.64 mi
Paige Rd	Avery Ln	2009	17,050	0.68 mi
Memorial Dr	S Colony Blvd	2009	5,818	0.70 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

132 Listings
15252 Views
62 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
15425 Views
60 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLPG Atlanta

Contact

134 Listings
15406 Views
63 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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