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Drug Store

Walgreens w/ Rare Increases | Southwest Texas - International Border | Long Term NNN Lease

1329 George Dieter Dr, El Paso, TX 79936

Listing Price: $8,560,040

Cap Rate
5.00%
Tenant Name
Walgreens
Years Remaining On Lease
11.2
Gross SF
14,820
Guarantor
Corporate Guarantee
Rentable SF
14,820
Price/Gross SF
$577.60
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$28.88

Investment Overview

El Paso is a city in and the county seat of El Paso County in the far southwestern part of the U.S. state of Texas. The 2021 population of the city from the U.S. Census Bureau was 963,000, making it the 22nd-largest city in the United States, the sixth-largest city in Texas, and the second-largest city in the Southwestern United States behind Phoenix, Arizona. The city is also the second-largest majority-Hispanic city in the United States, with 81% of its population being Hispanic. Its metropolitan statistical area covers all of El Paso and Hudspeth counties in Texas, and had a population over 900,000. El Paso stands on the Rio Grande across the Mexico–United States border from Ciudad Juárez, the most-populous city in the Mexican state of Chihuahua with over 1.5 million people. On the U.S. side, the El Paso metropolitan area forms part of the larger El Paso-Las Cruces combined statistical area. These three cities form a combined international metropolitan area sometimes referred to as the Paso del Norte or the Borderplex. The region of 2.7 million people constitutes the largest bilingual and binational work force in the Western Hemisphere.

Investment Highlights

  • Long Term NNN Lease with Rare Favorable Rental Increases throughout the Term. 14+ Year Historical Occupancy. This Location Serves Beer & Wine, and Features a Drive-Thru Pharmacy.
  • Signalized Hard Corner Location - Strategically Positioned Directly North of the Zaragoza International Bridge and Easy Access to/from I-10 (115k+ VPD).
  • Walgreens is Ranked #16 on Fortune 500 List, #36 On Fortune 500 Global List and has a S&P Investment Grade Credit Rating of "BBB" with an Annual Revenue of $132.5 Billion.
  • The Property benefits from more than 57k Vehicles passing through each Day. The Retail Trade Area Surrounding the Site Boasts Dramatic Architectural Appeal, Pedestrian-Friendly Walkways and an Incredible Location near the Border, drawing both Locals and Tourists alike.
  • Walgreens is located within Las Palmas Marketplace, a 750k+ Sq. Ft. Retail Shopping Center Featuring Diverse Big Box and Small Shop Retailers, Including Various Food & Beverage Offerings, Lowe's, Kohl's, and Cinemark.
  • Densely Populated Area: Features more than 274k People Residing within a 5-Mile Radius. The City of El Paso is the Second-Largest City in the Southwestern United States.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3100

    License(s) TX: 0606255

    Texas

Financing By

Drug Store

Walgreens w/ Rare Increases | Southwest Texas - International Border | Long Term NNN Lease

Listing Price: $8,560,040

Cap Rate
5.00%
Tenant Name
Walgreens
Years Remaining On Lease
11.2
Gross SF
14,820
Guarantor
Corporate Guarantee
Rentable SF
14,820
Price/Gross SF
$577.60
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$28.88

Investment Highlights

  • Long Term NNN Lease with Rare Favorable Rental Increases throughout the Term. 14+ Year Historical Occupancy. This Location Serves Beer & Wine, and Features a Drive-Thru Pharmacy.
  • Signalized Hard Corner Location - Strategically Positioned Directly North of the Zaragoza International Bridge and Easy Access to/from I-10 (115k+ VPD).
  • Walgreens is Ranked #16 on Fortune 500 List, #36 On Fortune 500 Global List and has a S&P Investment Grade Credit Rating of "BBB" with an Annual Revenue of $132.5 Billion.
  • The Property benefits from more than 57k Vehicles passing through each Day. The Retail Trade Area Surrounding the Site Boasts Dramatic Architectural Appeal, Pedestrian-Friendly Walkways and an Incredible Location near the Border, drawing both Locals and Tourists alike.
  • Walgreens is located within Las Palmas Marketplace, a 750k+ Sq. Ft. Retail Shopping Center Featuring Diverse Big Box and Small Shop Retailers, Including Various Food & Beverage Offerings, Lowe's, Kohl's, and Cinemark.
  • Densely Populated Area: Features more than 274k People Residing within a 5-Mile Radius. The City of El Paso is the Second-Largest City in the Southwestern United States.

Investment Overview

El Paso is a city in and the county seat of El Paso County in the far southwestern part of the U.S. state of Texas. The 2021 population of the city from the U.S. Census Bureau was 963,000, making it the 22nd-largest city in the United States, the sixth-largest city in Texas, and the second-largest city in the Southwestern United States behind Phoenix, Arizona. The city is also the second-largest majority-Hispanic city in the United States, with 81% of its population being Hispanic. Its metropolitan statistical area covers all of El Paso and Hudspeth counties in Texas, and had a population over 900,000. El Paso stands on the Rio Grande across the Mexico–United States border from Ciudad Juárez, the most-populous city in the Mexican state of Chihuahua with over 1.5 million people. On the U.S. side, the El Paso metropolitan area forms part of the larger El Paso-Las Cruces combined statistical area. These three cities form a combined international metropolitan area sometimes referred to as the Paso del Norte or the Borderplex. The region of 2.7 million people constitutes the largest bilingual and binational work force in the Western Hemisphere.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3100

    License(s): TX: 0606255

    Texas

Financing By

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