The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Walgreens property located at 3045 Broadway Boulevard in Garland, TX for $4,273,000.
The 15,068 square foot Walgreens benefits from its location at the intersection of Broadway Boulevard and Centerville Road (40,600), two miles from Interstate 635 (205,000 VPD). Retailers nearby include Chase Bank, Sherwin-Williams, Ollie’s Bargain Outlet, Public Storage, T-Mobile, dd’s Discounts, and many others. The population exceeds 321,000 within a five-mile radius, with an average annual household income of $96,268.
This triple net lease has over 13 years remaining with twelve 5-year renewal options. There are 5% rental escalations every 5 years. The lease is corporately guaranteed by Walgreens, which was ranked #28 in the 2024 Fortune 500 list.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The buyer is a private investor based in Texas and the seller is a private commercial real estate firm.
“Walgreens properties with recent lease extensions in income tax-free states continue to garner significant investor interest” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner at The Boulder Group, added, “This deal signifies that investors still value reputable tenants like Walgreens despite recent challenges in the drug store sector.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high-net-worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $9 billion of single tenant net lease real estate transactions. From 2013-2024, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
More info: www.bouldergroup.com
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html