2808 Gessner Dr
Houston, TX 77080
Walgreens: Houston, TX · Retail Property For Sale

Premier Drug Store Brand: Walgreen Co. (S&P: BBB), a subsidiary of Walgreens Boots Alliance Inc. (NASDAQ: WBA), operates 9,175 stores across 50 states, the District of Columbia and Puerto Rico. Walgreens Boots Alliance Inc. reported total revenues of $137.4 billion and net income of $3.7 billion as of November 30, 2019. Recently Affirmed Lease: Walgreens’ net lease expires in 2060 and has termination options every 5 years throughout the remainder of the term. Walgreens recently elected to continue their lease for 5 additional years at this location with no rent concessions. Next termination option is in 2025. Excellent Sales Performance: This location is an excellent performer for Walgreens with reported store sales in excess of $3 million. Excellent Visibility: The property is positioned at the signalized intersection of Kempwood Drive (20,847 VPD) and North Gessner Road (35,492 VPD), and just 1.2 miles east of the exit ramp for Sam Houston Tollway (149,648 VPD), which is an 88-mile beltway encircling the city. Strategic Location: Just 12 miles northwest of Houston’s CBD, Walgreens is ideally located on a hard corner site with two points of ingress and egress. The property also shares frontage at the intersection with Houston Behavioral Healthcare Hospital, Chevron, and a premier shopping center, home to various national tenants, such as H-E-B, Chase Bank, T-Mobile, Great Clips, Sally Beauty, GNC, FedEx, H&R Block, CATO Fashions, Starbucks, Little Caesars and KFC. Dominant Retail & Commercial Corridor: Ideally located in one of Houston’s most concentrated retail and commercial corridors, boasting 16.7 MSF of retail, 29.0 MSF of office, 9.2 MSF of industrial and 59,055 multi-family units within a 3-mile radius. Other noteworthy tenants within the immediate area include Kroger, a newly-constructed LA Fitness, Gessner Place (home to New York Style Pizza, Ken’s Jewelers, Party Rush, Salon Impressions and Teriyaki Kitchen, among various local retailers), Planet Fitness, Bank of America, Commercia Bank, Verizon, AutoZone Auto Parts, Dollar Tree, Whataburger, Subway, Domino’s Pizza, Pizza Hut, Church’s Chicken and McDonald’s, among many others. Substantial Built-In Customer Base: The next closest Walgreens is positioned 2 miles southeast of the site, which allows the property to capture a significant customer base with over 19,100 households located within the immediate area. Key Points of Interest: Walgreens benefits from its proximity to several traffic drivers in the surrounding region, including three major high schools—Northbrook High School (enrollment: 2,444), Spring Woods High School (enrollment: 2,172) and Houston Christian High School (enrollment: 490)—all located within 1.2 miles of the site, the 1.7 MSF Memorial City Mall (anchors: Target, Macy’s, Dillard’s and JCPenney) and Memorial Hermann Prevention & Recovery Center. Dynamic Demographics: Walgreens enjoys dynamic demographics with a population of 108,853 and an average household income of $69,363 within a 3-mile radius of the site. Houston, TX Advantage: With a population of nearly 7.0 million across the 9-county Metropolitan Statistical Area, Houston is the fifth-largest metro area within the United States. Houston’s population has grown by 49% since 2000, and future projections expect the city to add an additional 2.46 million people by 2030. Home to 21 Fortune 500 companies, Houston also houses a high concentration of the world’s largest foreign corporations.