NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
CVS (Ground Lease)
118 East New Circle Road
Lexington, KY 40505
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
1)	 Executive Summary
2)	 Investment Highlights
3)	 Property Overview
...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
The information contained in the following Offering Memorandum is prop...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
The Boulder Group is pleased to exclusively market for sale a single t...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
PROPERTY OVERVIEW
PROPERTY OVERVIEW
Price: $3,950,000
Cap Rate: 4.81%
...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AERIAL
AERIAL
38,000VPD
E.NEW
CIRCLEROAD
87,000 VPD
TO INTERSTATE 75/6...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
SITE PLAN
SITE PLAN
N
NORTH LIMESTONE
EASTNEWCIRCLEROAD
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
MAPS
MAPS
New Circle Road
New
Circle
Road
New Circle Road
NewCircleRoa...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
CVS is engaged in the retail drugstore business. The Company operates ...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Population 1-mi 3-mi 5-mi
Total Population 10,946 77,333 166,180
Total...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Lexington is the second-largest city in Kentucky and the 61st largest ...
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
CONTACT INFORMATION
CONTACT INFORMATION
666 Dundee Road, Suite 1801
No...
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CVS Ground Lease for Sale | The Boulder Group

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The Boulder Group is pleased to exclusively market for sale a single tenant CVS ground lease property located in Lexington, Kentucky.

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CVS Ground Lease for Sale | The Boulder Group

  1. 1. NET LEASED INVESTMENT OFFERING www.bouldergroup.com CVS (Ground Lease) 118 East New Circle Road Lexington, KY 40505
  2. 2. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 1) Executive Summary 2) Investment Highlights 3) Property Overview 4) Aerial 5) Site Plan 6) Maps 7) Tenant Profile 8) Demographic Comparison Report 9) Location Overview 10) Contact Information TABLE OF CONTENTS TABLE OF CONTENTS
  3. 3. NET LEASED INVESTMENT OFFERING www.bouldergroup.com The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. CONFIDENTIALITY & DISCLAIMER CONFIDENTITALITY & DISCLAIMER
  4. 4. NET LEASED INVESTMENT OFFERING www.bouldergroup.com The Boulder Group is pleased to exclusively market for sale a single tenant CVS ground lease property located in Lexington, Kentucky. The CVS is well located along Lexington’s highway loop which encompasses the city. The building was recently developed in 2009 at a signalized intersection. There are over 20 years remaining on the CVS ground lease that expires in January 2035 and features rental escalations in each renewal option period. CVS is a publicly traded company (NYSE: CVS) with a market capitalization in excess of $89 billion and is an investment grade rated tenant (S&P: BBB+). The 1.86 acre CVS property is ideally located at the heavily trafficked signalized intersection of East New Circle Road and North Limestone Road. This intersection experiences traffic volumes in excess of 45,000 vehicles per day. New Circle Road is Lexington’s highway loop that rounds the city. The property is located approximately two miles east of downtown Lexington and three miles east of the University of Kentucky (30,000 students). The CVS is located less than 1.5 miles from access to Interstate 75/64. The corporate headquarters of Lexmark International, a global provider of printing and imaging products, is located less than two miles from the CVS and employs over 2,600 people. Further contributing to the strength of this CVS location is that it is located down the street from an aging mid-block Walgreens with limited access. The CVS property is benefitted by its proximity to Whitaker Bank Ballpark, home of the Lexington Legends minor league baseball team. The area is densely populated with approximately 80,000 people living within a three mile radius. Retailers located in the immediate vicinity of the property include Walmart, Kroger, Staples, PNC Bank, Fifth-Third Bank, and many others. CVS has over 20 years remaining on their ground lease that expires January 31, 2035. The lease features six 5-year re- newal options with 5% rental escalations in each. CVS is an investment grade tenant with a Standard and Poor’s rating of BBB+. CVS is publicly traded on the New York Stock Exchange (CVS) with a market capitalization in excess of $89 billion. INVESTMENT HIGHLIGHTS • Located in the city of Lexington • Long term ground lease with over 20 years remaining • Investment grade tenant (S&P: BBB+) • Premiere location along Lexington’s highway loop (New Circle Road) • Rental escalations in each renewal option • Located at a heavily trafficked signalized intersection (45,000 VPD) • Close proximity to the world headquarters of Lexmark International (2,600+ employees) • Recently constructed (2009) • No landlord responsibilities EXECUTIVE SUMMARY EXECUTIVE SUMMARY
  5. 5. NET LEASED INVESTMENT OFFERING www.bouldergroup.com PROPERTY OVERVIEW PROPERTY OVERVIEW Price: $3,950,000 Cap Rate: 4.81% Rent Schedule: NOI Escalation Date $190,000 $199,500 2/1/35 (Option 1) $209,475 2/1/40 (Option 2) $219,949 2/1/45 (Option 3) $230,946 2/1/50 (Option 4) $242,494 2/1/55 (Option 5) $254,618 2/1/60 (Option 6) Lease Commencement Date: October 2, 2009 Lease Expiration Date: January 31, 2035 Tenant: CVS Credit Rating: BBB+ Rental Escalations: 5% in Each Option Renewal Options: Six 5-Year Year Built: 2009 Lease Type: Ground Lease Building Size: 13,225 SF Land Size: 1.86 acres
  6. 6. NET LEASED INVESTMENT OFFERING www.bouldergroup.com AERIAL AERIAL 38,000VPD E.NEW CIRCLEROAD 87,000 VPD TO INTERSTATE 75/64 7,000 VPD N. LIMESTONE STREET WORLD HEADQUARTERS N
  7. 7. NET LEASED INVESTMENT OFFERING www.bouldergroup.com SITE PLAN SITE PLAN N NORTH LIMESTONE EASTNEWCIRCLEROAD
  8. 8. NET LEASED INVESTMENT OFFERING www.bouldergroup.com MAPS MAPS New Circle Road New Circle Road New Circle Road NewCircleRoad New Circle Road NewCircleRoad
  9. 9. NET LEASED INVESTMENT OFFERING www.bouldergroup.com CVS is engaged in the retail drugstore business. The Company operates 7,600 locations in 45 states and Puerto Rico. CVS is the nation’s second-largest drugstore chain and the third-largest pharmacy benefits manager. As a retail division of CVS Caremark, CVS retail locations sell prescription drugs and a wide variety of general merchandise including over-the-counter medication, beauty products and cosmetics, film and photo finishing services, seasonal merchandise and convenience foods. CVS also offers healthcare services through their MinuteClinic locations, most of which are located within their stores. CVS is headquartered in Woonsocket, Rhode Island and was founded in 1963. CVS is a publicly traded company on the New York Stock Exchange, CVS, with a market capitalization in excess of $89.5 billion. CVS is an investment grade rated tenant with a Standard & Poor’s rating of BBB+. Website: www.cvs.com Number of Locations: 7,600 Stock Symbol: CVS: NYSE Standard & Poor’s Rating: BBB+ Market Capitalization: $89 billion Number of Employees: 130,000 TENANT PROFILE TENANT PROFILE
  10. 10. NET LEASED INVESTMENT OFFERING www.bouldergroup.com Population 1-mi 3-mi 5-mi Total Population 10,946 77,333 166,180 Total Households 4,538 32,733 70,591 Income Average Household Income $49,366 $48,871 $57,668 DEMOGRAPHIC COMPARISON REPORT DEMOGRAPHIC COMPARISON REPORT
  11. 11. NET LEASED INVESTMENT OFFERING www.bouldergroup.com Lexington is the second-largest city in Kentucky and the 61st largest city in the United States. Known as the “Horse Capital of the World”, it is located in the heart of Kentucky’s Bluegrass Region. Lexington had a 2013 US Census estimated population of 308,428 people and a combined statistical area population in excess of 705,000 people. With its abundance of government and technology jobs, Lexington has one of the nation’s most stable economies. Lexington has been described as having “a fortified economy, strong in manufacturing, technology and entrepreneurial support, benefiting from a diverse, balanced business base”. Lexington is the home of the University of Kentucky, which has an enrollment of approximately 30,000 students and employs over 14,000 people. Other significant employers include Lexmark, Xerox, Kroger, Amazon.com, Lockheed Martin, KentuckyOne Health, and the Fayette County Public Schools. The northeast border of Lexington has direct access to Interstate 64 and Interstate 75, however freeways do not run through downtown. Instead, Lexington has two beltways; New Circle Road (inner) and Man o’ War Boulevard (outer), and numerous arterial highways/U.S. routes radiate from downtown to the surrounding suburbs and small towns. www.lexingtonky.gov LOCATION OVERVIEW LOCATION OVERVIEW
  12. 12. NET LEASED INVESTMENT OFFERING www.bouldergroup.com CONTACT INFORMATION CONTACT INFORMATION 666 Dundee Road, Suite 1801 Northbrook, IL 60062 Randy Blankstein President 847.562.0003 randy@bouldergroup.com Jimmy Goodman Partner 847.562.8500 jimmy@bouldergroup.com

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