Houston, TX

• Infill Houston MSA demographics with ±500,000 people in ±189,000 residences with an average HH income of $80,0134 in a 5-mile radius.
• Directly across the corner from an emergency room connected to the HCA Houston Hospital System.
• Highly visible and trafficked signalized corner with a combined traffic count of ±74,416 vehicles per day.
• There are ±37 multi-housing complexes with over 11,500 units and 15 hotels with over 1,200 rooms all within a 1-mile radius.
• The lease operates on an absolute net leased basis and there are no landlord responsibilities whatsoever.
• Located within Westchase Business District which is home to large corporations such as Honeywell, Chevron, Dow Chemical and Phillips 66 with ±16M square feet of office space within a 4-mile radius.

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 and 4 months 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.