Walgreens / Village MD - Houston, TX

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a single-tenant Walgreens (+ Village MD) located at 7929 Kirby Dr, Houston, TX.

The Property’s location is exceptional and situated two blocks north of NRG Stadium (home of the NFL’s Houston Texans), one mile southwest of Texas Medical Center (largest medical center in the world with 106,000+ employees), and ±6 miles southwest of Downtown Houston. This pocket of Houston is highly affluent with residents earning over $146,000 in avg. household income.

Initially constructed as a build-to-suit for the Tenant in 2007, the Asset features a corporate guaranty from Walgreens (S&P: BB), 8.1 years of lease term remaining and minimal landlord responsibilities.

The Property is positioned within a 1.29-acre site on a hard corner at a prominent signalized intersection (61,800+ VPD) with access to 147,000+ residents in a three-mile radius. The area’s growth has been strong with 13% population growth since 2014. This is a premier retail corridor that is supply constrained with 3.6% vacancy and 22.4% rent growth since 2020.