Los Angeles County Walgreens

Description:

Single-tenant Walgreens pharmacy located at 934 N Hacienda Blvd in La Puente, California, positioned on the signalized corner of Hacienda Boulevard and Amar Road within Los Angeles County. The property consists of a 14,100 SF retail building constructed in 2001, situated on 1.48 acres (64,431 SF) across two parcels. Approximately 12.5 years remain on the lease with 5% rent increases every five years beginning in 2028.

The asset benefits from strong surrounding demographics and residential density with 29,175 residents and 7,487 households within a 1-mile radius, expanding to 191,861 residents within 3 miles and 458,636 residents within 5 miles. Average household income exceeds $116,195 within 1 mile and $123,549 within 3 miles, supporting consistent demand for necessity-based retail such as pharmacy and convenience services. The area also supports a strong daytime population driven by 576 businesses and 5,142 employees within a 1-mile radius, reinforcing steady daily traffic along the Hacienda Boulevard commercial corridor.


La Puente
La Puente is a dense, infill community in East Los Angeles County, located approximately 20 miles east of Downtown Los Angeles within the San
Gabriel Valley. The city functions as a neighborhood-serving retail market, characterized by long-term residency, consistent daily traffic patterns,
and demand driven by essential goods and services rather than discretionary retail. With a population of approximately 38,000 residents within
3.5 square miles, La Puente exhibits high population density, supporting frequent-use retail categories such as pharmacy, grocery, medical,
quick-service food, and value-oriented retail. The surrounding trade area includes additional residential density from adjacent communities
including West Covina, City of Industry, Hacienda Heights, and Baldwin Park, expanding the effective consumer base beyond city boundaries.


Retail & Economic Fundamentals
The local economy is anchored by necessity-based retail and service employment, with major operators including grocery, pharmacy, discount
retail, and food service. Hacienda Boulevard serves as one of the city’s primary commercial corridors, supporting a mix of national, regional, and
local tenants. Retail activity in the area is defined by ongoing reinvestment and re-tenanting, rather than speculative new construction. Limited
availability of developable land and modest new retail supply reduce competitive risk, reinforcing the value of established infill assets with strong
visibility, access, and parking.


Development & Planning Context
La Puente is largely built-out, with recent development activity focused on small-scale residential infill and senior housing projects within the
broader market. The City has adopted planning initiatives encouraging incremental reinvestment and mixed-use flexibility along commercial
corridors, supporting long-term vitality without introducing significant new retail supply.


Investment Relevance
Located along a primary commercial artery, 934 N Hacienda Boulevard directly benefits from La Puente’s dense residential base, necessitydriven
retail demand, and supply-constrained infill environment—characteristics that have historically supported long-term tenancy and position
the asset favorably for continued neighborhood-serving retail use.