Pharma Property Group is pleased to market for sale the Walgreens property located at 11038 Westheimer Road in Houston, Texas (“The Property”). Walgreens has been successfully operating at this location for 21 years and has 3 years of firm term remaining before 10 (5-year) option periods on an absolute net lease with no landlord obligations whatsoever.
The Property is strategically located in a densely populated Westheimer Road corridor with over 28,000 residents in a 1-mile radius of the Property. Within the 1-mile radius, there are 37 apartment complexes, totaling approximately 11,555 units. In addition to the permanent residents, the Property has 15 hotels in a 1-mile radius (1,240 rooms) to accommodate individuals traveling to Westchase Business District for work.
Surrounded by over 1,500 employers, the Property is situated in the heart of the Westchase Business District. There are over 16.3 million square feet of office space, anchored by major employers such as BMC Software, Chevron, Phillips 66, Dow Chemical, Petrochina, and Jacobs Engineering, within a 4-mile radius of the Property.
The Property is located on the signalized hard corner of Westheimer Road and Wilcrest Drive with combined traffic counts of 75,000 vehicles per day. Westheimer Road serves as the main retail corridor in the area with numerous complimentary national retail tenants neighboring the Property including Whole Foods, Petco, Ross Dress For Less, McDonalds, Office Depot, and Wendy's.
Listed in conjunction with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, TX DRE Lic. #701472.