The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 9005 N Navarro Street in Victoria, Texas for $6,550,000.<\/p>\n
The 14,820 square foot single tenant net leased Walgreens property is strategically located at a signalized intersection along North Navarro Street. North Navarro Street is the primary north-south thoroughfare in the area. The property features multiple points of ingress and egress and is easily accessible.\u00a0 The Property is located across from a Walmart Supercenter anchored shopping center and surrounded by a number of national retailers such as Sam\u2019s Club, The Home Depot, Lowe\u2019s, Target, Academy Sports and the Victoria Mall featuring JCPenney, Sears and Dillard\u2019s.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction; a Northeast based private real estate investor in a 1031 exchange.\u00a0 The seller was family trust.<\/p>\n
There are approximately 17 years remaining on the Walgreens lease which expires in January 2034. The lease features ten 5-year renewal option periods. Walgreens is an investment grade rated company with a Standard & Poor\u2019s rating of BBB.<\/p>\n
\u201cThe market for Walgreens properties remains active as investors are attracted to investment grade rated companies with long term leases.\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cNet lease properties in income tax free states are in high demand.\u201d<\/p>\n
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