New NNN Walgreens

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net leased Walgreens for sale

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New NNN Walgreens

  1. 1. NET LEASED INVESTMENT OFFERING www.bouldergroup.com Walgreens SEC of Illinois 120 & Darrell Road Lakemoor, IL 60051 (Chicago MSA)
  2. 2. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 1) Confidentiality & Disclaimer 2) Executive Summary 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 new construction single tenant net leased Walgreens property located in the Chicago MSA. The 14,820 square foot Walgreens is scheduled to open in November 2013. This newly developed Walgreens features a long term NNN lease with 75 years of lease term, which is cancelable at Walgreens’ option after 25 years. The primary term is five years longer than most new construction Walgreens. The property is located along Illinois 120, the primary east-west roadway in the immediate area. Walgreens is strategically positioned at the signalized intersection of Illinois 120 and Darrell Road, creating constant traffic flow at the site. The signalized intersection of Illinois 120 and Darrell Road experiences traffic volumes in excess of 30,000 vehicles per day. The property has curb cuts for access on both Illinois 120 and Darrell Road. Illinois 120 has direct access to Highway 12 approximately one and one-half miles east of the property. Highway 12 is the primary north-south thoroughfare in the area and experiences traffic volumes in excess of 27,000 vehicles per day. Residents living within three miles of the property earn on average $81,000 annually. Rent is estimated to commence in November 2013 and the lease has a primary term of 75 years with fifty years of cancellation options. Walgreens is a publicly traded company on the New York Stock Exchange (WAG), with a market capitalization of $50 billion. Walgreens is an investment grade company with a Standard & Poor’s rating of BBB. INVESTMENT HIGHLIGHTS • Located within the Chicago MSA • Long term lease with 75 years (cancelable after 25 years) • Lease is five years longer than most new construction Walgreens • Investment grade tenant (S&P: BBB) • Intersection of Illinois 120 and Darrell Road experiences traffic volumes in excess of 30,000 VPD • Average household income in excess of $81,000 annually • Positioned on a hard corner of a signalized intersection • Brand new construction in 2013 • Zero landlord responsibilities EXECUTIVE SUMMARY EXECUTIVE SUMMARY September 2013
  5. 5. NET LEASED INVESTMENT OFFERING www.bouldergroup.com PROPERTY OVERVIEW PROPERTY OVERVIEW Price: $6,961,364 Cap Rate: 5.50% Net Operating Income: $382,875 Lease Commencement Date: November 1, 2013 First Lease Termination Date: October 31, 2038 Lease Expiration Date: October 31, 2088 Cancellation Options: Fifty 1-Year Tenant: Walgreens Credit Rating: BBB (Standard & Poor’s) Year Built: 2013 Landlord Obligations: None Rentable Square Feet: 14,820 Land Size: 1.60 acres
  6. 6. NET LEASED INVESTMENT OFFERING www.bouldergroup.com AERIAL AERIAL N 23,800 VPD ILLINOIS ROUTE 120 6,400VPD DARRELLROAD SHARED MONUMENT SIGN Detention Basin Parcel Future Outlot WALGREENS MONUMENT SIGN SHARED MONUMENT SIGN SHARED MONUMENT SIGN DRIVE THRU
  7. 7. NET LEASED INVESTMENT OFFERING www.bouldergroup.com SITE PLAN SITE PLAN Detention Basin Parcel Future Outlot WALGREENS MONUMENT SIGN SHARED MONUMENT SIGN SHARED MONUMENT SIGN DRIVE THRU Subject Property N BELVIDERE ROAD/ROUTE 120 DARRELLROAD
  8. 8. NET LEASED INVESTMENT OFFERING www.bouldergroup.com MAPS MAPS
  9. 9. NET LEASED INVESTMENT OFFERING www.bouldergroup.com Walgreens is engaged in retail drugstore business. As of May 31, 2013, the company operated 8,560 locations in all 50 states, the District of Columbia, Puerto Rico and Guam. The company also operates worksite health centers, home care facilities, and specialty and mail service pharmacies. Its Take Care Health Systems subsidiary manages more than 715 in-store convenient care clinics and worksite health and wellness centers. The Company’s drugstores are engaged in the retail sale of prescription and non-prescription drugs and general merchandise. General merchandise includes, among other things, household items, personal care, convenience foods, beauty care, photofinishing, candy, and seasonal items. Walgreens offers customers the choice to have prescriptions filled at the drugstore counter, as well as through the mail, by telephone, and through the Internet. In September 2013, Walgreens announced that its acquisition of Kerr Drug and its 76 locations. Website: www.walgreens.com Number of Locations: 8,560 Stock Symbol: WAG: NYSE Standard & Poor’s Rating: BBB Market Capitalization: $50 billion TENANT PROFILE TENANT PROFILE September 2013
  10. 10. NET LEASED INVESTMENT OFFERING www.bouldergroup.com Population 3-mi 5-mi 7-mi Total Population 16,064 81,421 175,164 Total Households 6,072 30,464 62,088 Income Median Household Income $68,087 $65,402 $63,904 Average Household Income $81,352 $79,297 $79,423 DEMOGRAPHIC COMPARISON REPORT DEMOGRAPHIC COMPARISON REPORT September 2013
  11. 11. NET LEASED INVESTMENT OFFERING www.bouldergroup.com Lakemoor is a village in Lake and McHenry Counties in Illinois approximately 50 miles northwestfromdowntownChicago.Lakemoorwasoriginallyformedasasummercommunity however over time, Lakemoor’s population grew as people began to settle in the area due to the natural beauty and many nature preserves in the area. Lakemoor has experienced population growth in recent years with the population doubling since 2000. www.lakemoor.net Chicago is the most populous city in the Midwestern United States and the third most populous city in the United States with 2,700,000 residents. Chicago is the county seat of Cook County, the second largest county in the United States. The Chicago MSA is the third most populated metropolitan area in the United States with 9,580,567 residents. The MSA covers over 1,300 square miles and six counties. The Chicago metropolitan area is home to the corporate headquarters of 57 Fortune 1000 companies, including Boeing, McDonald’s, Motorola, Discover Financial Services and United Airlines. Chicago is a major hub for industry, telecommunications and infrastructure and O’Hare International Airport is the second busiest airport in the world in terms of traffic movement. The metro is also a major financial center in North America, and is home to the largest futures exchange in the United States, the CME Group. Chicago is third in the world on the Global Financial Centers Index which ranks the competitiveness of financial centers based on people, business environment, market access, infrastructure and general competitiveness. www.cityofchicago.org LOCATION OVERVIEW LOCATION OVERVIEW
  12. 12. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 666 Dundee Road, Suite 1801 Northbrook, IL 60062 Randy Blankstein President 847.562.0003 rblank@bouldergroup.com Jimmy Goodman Partner 847.562.8500 jimmy@bouldergroup.com CONTACT INFORMATION CONTACT INFORMATION September 2013September 2013

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