Investment Overview

Marcus & Millichap is pleased to present for sale this Net Leased Walgreens located at 701 W Houston Street in Broken Arrow, Oklahoma, just 13 miles East of Downtown Tulsa. The subject property consists of a 12,934 SF free-standing building with a drive-thru and is situated on a large 1.14-acre parcel of land. Broken Arrow is a city in Tulsa and Wagoner counties in the state of Oklahoma. It is the largest suburb of Tulsa with a population of 113,540 residents and the 4th most populous city in the state. Broken Arrow is part of the Tulsa Metropolitan Area with a population of 1,023,988 residents. The city was named for a Creek community settles by the Creek Indians. Its economy is very diverse and has the third-largest concentration of manufacturers in the state. Notable employers in Broken Arrow include FlightSafety International, FedEx Ground, Blue Bell Creameries and Windstream Communications. A number of new commercial developments are being built throughout the city along Oklahoma State Highway 51 including a Bass Pro Shops Outdoor World. Many colleges and universities surround this Walgreens Property including Tulsa Community College with 14,428 enrolled students, Tulsa Tech with 1,000 enrolled students and Northeastern State University with 3,500 enrolled students. Numerous apartment complexes also surround this property including Sequoyah Creek Apartments, Charleston Crossing Apartments, Inverness Apartments, The Carlyle Apartments, Hickory Grove, Aspen Village and The Lofts at 222. Many new home developments are also springing up including Shaw Homes at Broken Arrow, Ninety-One by Rausch Coleman, Tucson Village, Simons Homes and Oneta Farms. Walgreens (NYSE: WBA) is a publicly traded company with an S&P Credit Rating of BBB and is ranked #17 in the Fortune 500 (2019). Some financial highlights include 2018 Revenues of $131.537 billion and 2018 Net Profits of $5.024 billion. Walgreen Co. operates over 8,200 stores in all 50 states, the District of Columbia, Puerto Rico and Guam. The company also operates worksite health centers, home care facilities, and specialty and mail service pharmacies.