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Net Leased CVS


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net leased CVS in Flori

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Net Leased CVS

  1. 1. NET LEASED INVESTMENT OFFERING CVS Pharmacy1201 East Colonial Drive Orlando, FL 32803
  2. 2. TABLE OF CONTENTS NET LEASED INVESTMENT OFFERING TABLE OF CONTENTS1) Confidentiality & Disclaimer2) Executive Summary3) Property Overview4) Aerial5) Site Plan6) Map7) Tenant Profile8) Demographic Comparison Report9) Location Overview10) Contact Information
  3. 3. CONFIDENTIALITY & DISCLAIMER NET LEASED INVESTMENT OFFERING CONFIDENTIALITY CONFIDENTIALITY & DISCLAIMERThe information contained in the following Offering Memorandum is proprietary and strictly confidential. It isintended to be reviewed only by the party receiving it from The Boulder Group and should not be made available toany other person or entity without the written consent of The Boulder Group. This Offering Memorandum has beenprepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminarylevel of interest in the subject property. The information contained herein is not a substitute for a thorough duediligence investigation. The Boulder Group has not made any investigation, and makes no warranty orrepresentation. The information contained in this Offering Memorandum has been obtained from sources webelieve to be reliable; however, The Boulder Group has not verified, and will not verify, any of the informationcontained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes nowarranty or representation whatsoever regarding the accuracy or completeness of the information provided. Allpotential buyers must take appropriate measures to verify all of the information set forth herein.
  4. 4. EXECUTIVE SUMMARY NET LEASED INVESTMENT OFFERING EXECUTIVE SUMMARYThe Boulder Group is pleased to exclusively market for sale a single tenant net leased CVS property located in Orlando,Florida. The 10,767 square foot CVS property was built in 1996 and features a drive-thru. There are rental escalations ineach of the four renewal options. This is a proven location for CVS as evidenced by the strong sales history and low rent tosales ratio. Store sales in 2012 at this location have increased over 10% in comparison to 2011.The subject property is positioned at the signalized intersection of East Colonial Drive and North Mills Avenue. Theintersection of East Colonial and North Mills experiences traffic counts in excess of 73,500 vehicles per day, and EastColonial drive has direct access to an interchange with Interstate 4 one and one-half miles from the property. The propertyis located in close proximity to downtown Orlando in a dense area with over 260,000 people living within five miles. CVS isbenefited by its location within the primary retail trade area anchored by three retail power centers; Orlando FashionSquare (regional mall), Colonial Plaza and Colonial Marketplace. Orlando Fashion Square is anchored by JCPenney, Macy’s,Dillard’s and Sears. Adjacent to Orlando Fashion Square is Colonial Marketplace anchored by Target, Office Max and LAFitness and Colonial Plaza featuring Marshalls, Staples, Old Navy, Hobby Lobby, PETCO, Pier 1 Imports and Ross Dress forLess. Other major retailers in the area include Publix grocery store, Bed Bath and Beyond, and Sports Authority.The original CVS lease term was for 20 years with four 5-year renewal options and the lease expires in December 2016.CVS is a publicly traded company on the New York Stock Exchange (CVS), with a market capitalization of $58 billion. CVS isan investment grade rated company with a Standard & Poor’s rating of BBB+.INVESTMENT HIGHLIGHTS • Located within a primary retail trade area of Orlando • Strong store sales with a low rent to sales ratio • Sales increased 10% in 2012 from 2011 • Investment grade company with an S&P Rating of BBB+ • Drive-thru location • Over 260,000 people living within five miles of the property • Rental escalations in the renewal option periods • Located at a signalized intersection with traffic volumes in excess of 73,500 vehicles per day • Nearby retailers include Target, JCPenney, Macy’s, Marshalls, Old Navy, LA Fitness and Bed Bath and Beyond
  5. 5. PROPERTY OVERVIEW NET LEASED INVESTMENT OFFERING PROPERTY OVERVIEWPrice: $2,757,687Cap Rate: 8.00%Rent Schedule: NOI Escalation Date $220,615 $225,912 12/6/2016 (Option 1) $231,209 12/6/2021 (Option 2) $236,506 12/6/2026 (Option 3) $241,803 12/6/2031 (Option 4)Renewal Options: Four 5-YearLease Commencement Date: December 6, 1996Lease Expiration Date: December 5, 2016Tenant: CVSCredit Rating: BBB+Year Built 1996Lease Type: NN (Roof and Structure)Rentable Square Feet: 10,767 SFLand Size: 37,461 SF
  9. 9. TENANT PROFILE NET LEASED INVESTMENT OFFERING TENANT PROFILECVS is engaged in the retail drugstore business. As of September 2011, the Company operated 7,381 locations in41 states and Puerto Rico. CVS is the nations second-largest drugstore chain and the third-largest pharmacybenefits manager. As a retail division of CVS Caremark, CVS retail locations sell prescription drugs and a wide varietyof general merchandise including over-the-counter medication, beauty products and cosmetics, film and photofinishing services, seasonal merchandise and convenience foods. CVS also offers healthcare services through theirMinuteClinic locations, most of which are located within their stores. CVS is headquartered in Woonsocket, RhodeIsland and was founded in 1963.Website: www.cvs.comNumber of Locations: 7,381Stock Symbol: CVS : NYSEStandard & Poor’s Rating: BBB+Market Capitalization: $58 billionEmployees: 80,000
  10. 10. DEMOGRAPHIC COMPARISON REPORT NET LEASED INVESTMENT OFFERING DEMOGRAPHIC COMPARISON REPORTPopulation 1-mi. 3-mi 5-miTotal Population 13,165 93,460 265,132Total Households 7,538 42,381 108,712IncomeMedian Household Income $48,201 $46,911 $44,197Average Household Income $64,898 $63,023 $58,385
  11. 11. LOCATION OVERVIEW NET LEASED INVESTMENT OFFERING LOCATION OVERVIEW Orlando is the fifth largest city and the largest inland city in the state of Florida. At the time of the 2010 U.S. Census, Orlando had a population of 238,300 and the Orlando Metropolitan Area had a population of 2,134,411, making Orlando the 26th largest metropolitan area in the United States and the third largest in Florida. Orlando experiences a large and diversified economy. The city is a major industrial hi- tech center, experiences 51 million tourist a year to their multiple theme parks and is home to University of Central Florida, which is the largest university in the United States in terms of enrollment (60,000 students). Orlando’s economy benefits from a large concentration of technology, aviation, aerospace and software design. More than 150 international companies have facilities in Orlando and they employ over 50,000 people.Orlando is also home to the simulation procurement commands for the U.S. Army, Navy, Air Force, Marines andCoast Guard. Orlando’s economy also benefits from Walt Disney World Resort, Universal Orlando Resort andSeaWorld Orlando. These theme parks attract tourist from all over the world making Orlando one of the mostvisited cities in
  12. 12. CONTACT INFORMATION NET LEASED INVESTMENT OFFERING CONTACT INFORMATION 666 Dundee Road Suite 1801 Northbrook, IL 60062Randy Blankstein Jimmy GoodmanPresident Partner847.562.0003