Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire the fee-simple interest in a Walgreens located at 6795 Calder Ave in Beaumont, TX (the “Property” or “Asset”). The Asset is situated at the corner of Calder Ave and Dowlen Rd with clear exposure to more than 26,000 VPD. The surrounding area features a plethora of commercial and residential activity, highlighted by the Calder Woods Retirement Community located directly across the street. Also across the street is the Oaks Shopping Center, which attracts more than 500,000 visitors annually.
This location is one of Walgreens top performing sites with annual sales estimated at $16.4 million and a health ratio of 1.7%. Upon close of escrow, Walgreens will execute a brand-new 15 year absolute NNN lease. The lease will feature 5.0% rent bumps every 5-years with twelve (12) 5-year extension options.
This Asset offers a rare opportunity to acquire a long-term cash flow guaranteed by an investment grade corporation with zero landlord responsibilities at a high performing location.
- Brand new 15-year absolute NNN lease with no landlord responsibilities
- Investment-grade tenancy (S&P: BBB) with corporate guaranty
- High performing location with total gross sales of approximately $16.4M
- 5% rent increase every 5-years
- Next to major Calder Woods Retirement Community
- Over 100,000 residents within a 5-mile radius