Overview

Description

ACRE Investment Real Estate Services is pleased to Introduce a prime Walgreens investment opportunity in the bustling Corpus Christi market of Rockport. The site constructed in 2005, consists of roughly 14,820 rentable square feet of building space on an estimated 1.92-acre parcel of land.

Walgreens is subject to a 25-year triple-net (NNN) lease, which commenced on March 1, 2005. The annual rent is $321,000. There are ten (10), five (5)-year tenant renewal options, extending the total possible lease term to 75 years.

Discover the vibrant commercial potential of Rockport, TX's bustling Highway 35 North corridor. Situated just a short drive from the thriving Corpus Christi market, the area offers strategic accessibility and an array of nearby points of interest for potential office-building investors. Investors will appreciate the nearby amenities such as the Rockport-Fulton Chamber of Commerce and the Texas Maritime Museum, which contribute to the dynamic character of the area. With its convenient location and access to a range of conveniences, the location presents an exciting opportunity for office investors looking to enter or expand within the Corpus Christi market.

Highlights

• ✓ Long-Term, 25-Year Absolute Triple Net (NNN) Lease
• ✓ Ten (10), Five (5)-Year Tenant Renewal Options
• ✓ Corporate Tenant | Corporate Guarantee
• ✓ Dense Retail Corridor | Walmart, H-E-B, Ace Hardware, McDonald’s, Burger King, Holiday Inn & Express and More
• ✓ Strong Academic Presence | Within One Mile from Rockport Fulton Middle and High Schools | Over 1,800 Students Enrolled
• ✓ Strong Traffic Counts | Over 17,000 Vehicles Per Day on Highway 35 North
• ✓ Ranked in the “Top 10 Coastal Towns in America” by USA Today
• ✓ Beach Oriented Location With Strong Residual Value
• ✓ Positive Real Estate Fundamentals | Within Thirty Miles of Corpus Christi, TX
• ✓ Walgreens is One of the Nation’s Largest Leading Drugstore Chains
• ✓ Walgreens Operates 8,100 Drugstores with a Presence in all 50 States, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.
• ✓ Walgreens Also Manages More Than 400 Healthcare Clinics and Provider Practice Locations Around the Country.
• ✓ Publicly Traded on the NYSE Under the Ticker Symbol ‘WBA’
• ✓ BBB Credit Guaranty

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