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Net Leased Walgreens for sale


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net leased Walgreen for sale in St Louis MSA.

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Net Leased Walgreens for sale

  1. 1. NET LEASED INVESTMENT OFFERING Walgreens 913 N. Market Street MSA)Waterloo, IL (St. Louis MSA)
  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 Walgreens property located withinthe St. Louis MSA. The 14,490 square foot Walgreens was built in 2006 and is located approximately 20 miles south ofdowntown St. Louis. Walgreens benefits from its strategic location on the hard corner of a signalized intersection alongIllinois Route 3 in close proximity to a Wal-Mart Supercenter.The property is located on the southeast corner of the signalized intersection of Illinois Route 3 and North Market Street.This intersection has traffic counts in excess of 36,600 vehicles per day. Illinois Route 3 is the major retail thoroughfare inWaterloo and is the most heavily traveled roadway in the area. The subject property is located in a primary retail trade areain the immediate vicinity of a Wal-Mart Supercenter. Nearby retailers include a Schnucks grocery store, Rural King, PNCBank, Radio Shack, Payless Shoes, Waterloo Cinema (8 screen movie theater) and Applebee’s. Additionally, averagehousehold income is in excess of $76,600 within five miles of the property and Walgreens is the only national pharmacy inthe immediate area. Waterloo is also home to Monroe County Surgery Center which opened in the summer of 2012 and islocated less than one and one-half mile south of the property. This center is a state-of-the-art ambulatory surgical centeroffering same-day, outpatient surgical services.Walgreens original triple net lease term was for 25 years with ten 5-year renewal options and the lease expires in April2031. Walgreens is a publicly traded company on the New York Stock Exchange (WAG), with a market capitalization of$40 billion. Walgreens is an investment grade company with a Standard & Poor’s rating of BBB.INVESTMENT HIGHLIGHTS • Located within the St. Louis MSA • Investment grade tenant (S&P: BBB) • Long term lease • Zero landlord responsibilities • Traffic volumes at intersection of Illinois State Route 3 and North Market Street are in excess of 36,600 (VPD) • Located in the immediate vicinity of a Wal-Mart Supercenter • Only national pharmacy in the immediate area
  5. 5. PROPERTY OVERVIEW NET LEASED INVESTMENT OFFERING PROPERTY OVERVIEWPrice: $4,458,334Cap Rate: 6.00%Net Operating Income: $267,500Renewal Options: Ten 5-YearLease Commencement Date: May 1, 2006Lease Expiration Date: April 30, 2031Tenant: WalgreensCredit Rating: BBB (Standard & Poor’s)Year Built 2006Lease Type: NNNRentable Square Feet: 14,490Land Acreage: 1.57 acres
  9. 9. TENANT PROFILE NET LEASED INVESTMENT OFFERING TENANT PROFILEWalgreens is engaged in the retail drugstore business. As of April 30, 2011, the Company operated nearly 8,300locations in all 50 states, the District of Columbia, Puerto Rico and Guam. The company also operates worksitehealth centers, home care facilities, and specialty and mail service pharmacies. Its Take Care Health Systemssubsidiary manages more than 715 in-store convenient care clinics and worksite health and wellness centers. TheCompany’s drugstores are engaged in the retail sale of prescription and non-prescription drugs and generalmerchandise. General merchandise includes, among other things, household items, personal care, conveniencefoods, beauty care, photofinishing, candy, and seasonal items. Walgreens offers customers the choice to haveprescriptions filled at the drugstore counter, as well as through the mail, by telephone, and through the Internet. InMarch 2011, Walgreens announced that it has completed the acquisition www.walgreens.comNumber of Locations: 8,000Stock Symbol: WAG : NYSEStandard & Poor’s Rating: BBBMarket Capitalization: $40 billion
  10. 10. DEMOGRAPHIC COMPARISON REPORT NET LEASED INVESTMENT OFFERING DEMOGRAPHIC COMPARISON REPORTPopulation 3-mi. 5-mi 7-miTotal Population 10,719 15,178 24,221Total Households 4,236 5,785 9,233IncomeMedian Household Income $58,346 $60,697 $61,626Average Household Income $73,539 $76,692 $77,464
  11. 11. LOCATION OVERVIEW NET LEASED INVESTMENT OFFERING LOCATION OVERVIEWWaterloo, IL is the county seat of Monroe County and had a population of 9,811 at the time of the 2010 U.S.Census. Waterloo has seen progressive growth over the past 20 and populations has increased 94% since 1990.Currently, there are three planned subdivisions to be developed in Waterloo in the next three to five years. Thesedevelopments will offer expansion with approximately 170 new home sites and approximately 570 lots available forresidential development. Additionally, the local preschool has expanded their building by 2,100 square feet.Waterloo is also home to Monroe County Surgery Center which opened in the summer of 2012. This center is astate-of-the-art ambulatory surgical center offering same-day, outpatient surgical St. Louis is an independent city on the eastern border of the state of Missouri. At the time of the 2012 U.S. Census, St. Louis had a population of 318,172 making it the 58th largest U.S. city. The St. Louis metropolitan area, known as Greater St. Louis, is the 19th largest metropolitan area in the United States with a population of 2,795,794. The St. Louis economy has a large concentration on service, manufacturing, trade, transportation of goods and tourism. The rivers of St. Louis play a large role in moving goods and the Port of St. Louis is one of the largest inland ports in the United States. As of 2011, St. Louis was home to nine Fortune 500 companies including Express Scripts, Emerson Electric, Monsanto, Reinsurance Group of America, CharterCommunications, Peabody Energy, Graybar Electric and Centene. Other major employers in the area include EdwardJones, Scottrade, Wells Fargo and Energizer. Additionally, the Anheuser-Busch headquarters is located in St. Louis.The city is most notably home to the Gateway Arch. The Gateway Arch is the centerpiece of the Jefferson NationalExpansion Memorial and is the tallest man-made monument in the United States. The Gateway Arch is one of themost visited tourist attractions in the world with over four million visitors
  12. 12. CONTACT INFORMATION NET LEASED INVESTMENT OFFERING CONTACT INFORMATION 666 Dundee Road Suite 1801 Northbrook, IL 60062Randy Blankstein Jimmy GoodmanPresident Partner847.562.0003