Walgreens

Since 1845, the City of New Braunfels has provided a unique and diverse quality of life for its residents, visitors, and business community. Known for its German and Hispanic heritages, New Braunfels covers roughly 45 square miles, has a growing population nearing 100,000, and has been named one of the fastest-growing cities in the nation while also being named one of the best 50 places to live in the United States. Nestled at the edge of the Texas Hill Country, New Braunfels is conveniently located between the San Antonio and Austin metro areas along the I-35 corridor. Two idyllic rivers, the Comal and the Guadalupe, run through the heart of New Braunfels, which is also just a short drive from the boating and fishing offered at Canyon Lake. The city features 41 local parks including the 62-acre Fischer Park overlooking the city and the 51-acre Landa Park located within walking distance of New Braunfels’ historic downtown area.The Kase Group is pleased to present the opportunity to purchase a well established Walgreens location in New Braunfels, Texas with a new 15 year absolute NNN lease. The lease calls for zero landlord obligations and is corporately guaranteed by Walgreens. The recently extended lease calls for 5% increases every 5 years and twelve, 5-year options to renew. The site is currently undergoing major tenant funded improvements which include a roof replacement, power washing and repainting exterior, power washing and restriping parking lot, repainting light pole bases, refreshing landscape, interior lighting upgraded to LED and replacement of all exterior sign panels. The asset benefits from its hard corner location within a dense retail corridor, with exposure to over 40,000 vehicles per day along N Business Interstate Highway 35 and nearby interstate 35 (Monarch Highway), which carries over 112,339 vehicles per day and provides direct access into San Antonio and Austin. This Walgreens is less than 3 miles from Resolute Baptist Hospital and nearby the Comal Independent School District with over 4,000 students total combined. The site neighbors tenants such as The Home Depot, Taco Bell, Olive Garden Italian Restaurant, Wendy's, Applebee's Grill + Bar, 7-Eleven, Subway, Chipotle Mexican Grill, Montana Mikes, Wendy's & more.