Walgreens

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.
The 14,820 square-foot building benefits from its position along George Dieter Drive which experiences 56,000 vehicles per day. The subject asset is found in Las Palmas Marketplace, one of El Paso’s primary retail destinations. The center’s anchoring tenants include Lowe’s, Kohl’s, Ross, dd’s Discounts, Burlington, Michaels, Boot Barn, Cinemark, and Office Depot. Additionally, the property is one half mile from the Interstate 10 entrance/exit ramp which provides over 130,000 vehicles per day. The subject is also 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. The average household income within the same metric is $74,574. There are over 280,000 people living within a 5-mile radius, which does not include Mexican citizens of the population of Ciudad Juarez. Walgreens is located 4 miles North of the U.S. / Mexico border in Ysleta, which sees more than 6.7 million people traveling into the U.S. annually.
Walgreens is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc., a global leader in retail pharmacy. As America’s most loved pharmacy, health and beauty company, Walgreens purpose is to champion the health and wellbeing of every community in America. Operating more than 9,000 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving approximately 8 million customers each day. Walgreens pharmacists play a critical role in the U.S. healthcare system by providing a wide range of pharmacy and healthcare services.