Walgreens NNN Lease Property Sold by Casablanca in Crosby, Texas

We are pleased to announce that we have Just Sold a Walgreens Absolute NNN Lease Property in Crosby, Texas at a Selling Price of $5,100,000. Alex Casablanca, Managing Broker at Casablanca Commercial Real Estate represented the 1031 Exchange Buyer in the transaction. See below a couple transaction and location highlights.

Transaction Highlights

  • Sold Price: $5,1000,000
  • Cap Rate: 5.50%
  • Years on Lease: 15 Years
  • Lease Type: Absolute NNN
  • Extensions: Twelve 5-Year Options
  • Rental Increases: 5% every 5 years
  • Guaranty: Walgreens Corporation
  • Location: Crosby, Texas
  • Funding: All Cash, 1031 Exchange Buyer
  • Closing Date: September 25, 2023

Location Highlights

  • Iconic Retail Corner in the middle of a massive retail development 
  • Irreplaceable Hard Signalized Corner
  • 20 Minutes from Houston, Texas
  • Across the Street from a Walmart Supercenter
  • Successful Operation of over 15 years at the location
  • 1.91 Acre Premium Retail Pad
  • In the Epicenter of a Dense Retail Corridor
  • Located in Texas, a Tax Free State.
 

At Casablanca, we specialize in representing NNN Buyers, Sellers, Landlords, and 1031 Exchange Investors. We have the knowledge and expertise to guide you along the way from market research, identifying potential properties, submitting offers and negotiating them, due diligence, up to the closing table. We have helped many NNN Buyers and 1031 Exchange Investors in finding and negotiating the best property according to their investment goals and risk tolerance.

Why Choosing to Work with Us as Your Buyer’s Broker?

  • Free Buyer Representation, so you get our expert advice at no additional cost to you.
  • Up to $10,000 credit for Buyer’s closing costs.
  • We specialize in representing NNN Buyers and 1031 Exchange Investors. We represent your interests as a Buyer exclusively, not the Seller.
  • We assist you with market research, property evaluation and selection, offer submissions and negotiations, due diligence and closing
  • Extensive access to property listings through our network of broker colleagues, property owners and developers.
  • Our main goal is to find the best property for you at the best price.

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