HFF announces the sale of a 13,905-square-foot single-tenant retail building net leased to Walgreens in the suburban Houston community of Clear Lake, Texas.

The HFF team marketed the property for the seller, Lister Property Company. The Chiang Family Trust purchased the asset.

Walgreens has occupied the property since 1998 and has more than nine years remaining on its net lease after a recent renewal last year. Situated on 1.9 acres at 1180 Clear Lake City Boulevard, the freestanding building is in Clear Lake, one of Houston’s premier suburbs that is approximately 20 miles southeast of downtown Houston. The property is one mile from Interstate 45, which welcomes 193,000 vehicles per day. More than 70,000 residents earning an average annual household income of $105,000 live within a three-mile radius of the Walgreens.

HFF’s investment advisory team representing the seller included senior managing director Ryan West and analyst Charles Strauss.

“The market for single-tenant, triple-net-leased properties is robust,” West said. “Private investors like the idea of ‘mail-box money’ – receiving a monthly rent check with no management responsibility. We continue to see buyer pools increase, especially for properties such as this that are supported by a best-in-class tenant in one of Houston’s most sought-after suburbs.”

Holliday GP Corp. is a Texas licensed real estate broker.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.