SINGLE TENANT ABSOLUTE NNN Investment Opportunity

201 HILLSBORO STREET

OXFORD NORTH CAROLINAACTUAL SITE

w/ Drive-thru Pharmacy

ACTUAL SITE 2 NATIONAL NET LEASE GROUP

EXCLUSIVELY MARKETED BY

ANDREW FALLONExecutive Managing Director & Market LeaderSRS National Net Lease Group - Washington D.C.

D 703.787.4733M 202.286.1542Andrew.Fallon@srsre.comVA License No. 0025193951

Broker in Charge: Ray Uttenhov, SRS Real Estate Parnters-Southeast, LLC | NC License #267848

REPRESENTATIVE PHOTO 3 NATIONAL NET LEASE GROUP

CONTENTS

5INVESTMENT SUMMARY

Offering Summary | Investment Highlights

9PROPERTY OVERVIEW

Aerials | Site Plan | Location Map

16AREA OVERVIEW

Demographics

18FINANCIALS

Rent Roll | Brand Profile

PROPERTY PHOTO

ACTUAL SITE 4 NATIONAL NET LEASE GROUP

ACTUAL SITE 5 NATIONAL NET LEASE GROUP

INVESTMENT SUMMARY

SRS National Net Lease Group is pleased to offer the rare opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, investment grade (S&P: BBB), corporate guaranteed, Walgreens investment property located in Oxford, North Carolina. The tenant, Walgreens Boots Alliance, Inc., recently signed a brand new 15-year lease with 10 (5-year) options to extend, demonstrating their commitment to the site. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state, passive investor.

Walgreens is located at the signalized, hard corner intersection of U.S. Highway 15 and State Highway 96, averaging 14,200 combined vehicles passing by daily. The site is equipped with a large monument sign, creating excellent visibility along both cross-streets. The building is also equipped with a drive-thru pharmacy, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The asset is within close proximity to national/credit tenants which include CVS, Family Dollar, Autozone Auto Parts, McDonald’s, and more, increasing consumer draw to the trade area.

The city of Oxford is located in the Raleigh-Durham-Chapel Hill combined statistical which has a population of 2.2 million and is home to The Research Triangle which includes three major research universities (Duke University, University of North Carolina at Chapel Hill and North Carolina State University). The 5-mile trade area is supported by a population of over 14,000 with an average household income of $62,000.

PROPERTY PHOTOS

ACTUAL SITE 6 NATIONAL NET LEASE GROUP

REPRESENTATIVE PHOTO 7 NATIONAL NET LEASE GROUP

Parcel Map

OFFERING SUMMARY Offering

Property Specifications

PRICING $6,895,000

NET OPERATING INCOME $400,000

CAP RATE 5.80%

GUARANTY Corporate

TENANT Walgreens Boots Alliance, Inc.

LEASE TYPE Absolute NNN

LANDLORD RESPONSIBILITIES None

RENTABLE AREA 14,820 SF

LAND AREA 2.00 Acres

PROPERTY ADDRESS 201 Hillsboro Street Oxford, NC 27565

YEAR BUILT 2008

PARCEL NUMBER 192317014917

OWNERSHIP Fee Simple (Land & Building)

ACTUAL SITE 8 NATIONAL NET LEASE GROUP

Brand New 15-Year Lease | Investment Grade Tenant | Options To Extend

• Walgreens recently signed a brand new 15-year lease with 10 (5-year) options to extend, demonstrating their commitment to the site

• Corporate guaranteed by Walgreens Boots Alliance, Inc.• Investment grade tenant (S&P: BBB)

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities

• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises

• No landlord responsibilities• Ideal, management-free investment for an out-of-state, passive investor

Hard Corner, Signalized Intersection | Drive-Thru Equipped | Excellent Visibility & Access | National/Credit Tenants

• The subject property is located at the signalized, hard corner intersection of U.S. Highway 15 and State Highway 96, averaging 14,200 vehicles passing by daily

• Equipped with a drive-thru pharmacy, providing ease and convenience for customers

• On average, stores with drive-thrus experience higher sales than those without

• The site is equipped with a large monument sign, creating excellent visibility along both cross-streets

• Nearby national/credit tenants include CVS, Family Dollar, Autozone Auto Parts, McDonald’s, and more

• Increases consumer draw to the trade area

Demographics in 5-Mile Trade Area• More than 14,300 residents and 8,800 employees support the trade

area• $62,300 average household income

INVESTMENT HIGHLIGHTS

9 NATIONAL NET LEASE GROUP

PROPERTY OVERVIEW

Location

Parking

Access

Parcel

Traffic Counts

Year Built

Improvements

Zoning

Located inGranville County

There are approximately 79 parking spaces

on the owned parcel.

The parking ratio is approximately 5.33 stalls per

1,000 SF of leasable area.

Hillsboro Street / U.S. Highway 15 1 Access Point

M.L.K. Jr. Avenue / State Highway 96

1 Access Point

Parcel Number: 192317014917 Acres: 2.00

Square Feet: 87,120 SF

Hillsboro Street / U.S. Highway 15

5,100 Cars Per Day

Interstate 85 31,000 Cars Per Day

2008

There is approximately 14,820 SF of existing

building area

B1: Central Business District

10 NATIONAL NET LEASE GROUP

GRANVILLE ST.GRANVILLE ST.

STATE HIGHWAY 96STATE HIGHWAY 96STATE HIGHWAY 96STATE HIGHWAY 96

U.S. HIGHWAY 15U.S. HIGHWAY 15HI

LLSB

ORO

ST./

HILL

SBOR

O ST

./

U.S.

HIG

HWAY

15

U.S.

HIG

HWAY

15

CARS PER DAY5,100

CARS PER DAY5,100

CARS PER DAY7,300

CARS PER DAY9,100

HENDERSON OXFORD HENDERSON OXFORD AIRPORT- HNZAIRPORT- HNZ

HILLTOP VILLAGEHILLTOP VILLAGESHOPPING CENTERSHOPPING CENTER

MARY POTTER MARY POTTER SCHOOLSCHOOL

11 NATIONAL NET LEASE GROUP

GRANVILLE CORNERSGRANVILLE CORNERS

HILLSBORO ST./U.S. HIGHWAY 15

HILLSBORO ST./U.S. HIGHWAY 15 STATE HIGHWAY 96

STATE HIGHWAY 96

STATE HIGHWAY 96

STATE HIGHWAY 96

GRANVILLE ST.

GRANVILLE ST.

CARS PER DAY5,100

CARS PER DAY5,100

CARS PER DAY9,100

12 NATIONAL NET LEASE GROUP

HILLSBORO ST./U.S. HIGHWAY 15

HILLSBORO ST./U.S. HIGHWAY 15

STATE HIGHWAY 96

STATE HIGHWAY 96

GRANVILLE ST.

GRANVILLE ST.

ORANGE ST.

ORANGE ST.

WALL ST.

WALL ST.

CARS PER DAY5,100 CARS PER DAY

9,100

13 NATIONAL NET LEASE GROUP

GRANVILLE ST.

GRANVILLE ST.

INTERSTATE 85

INTERSTATE 85

STATE HIGHWAY 96

STATE HIGHWAY 96

GRANVILLE CORNERSGRANVILLE CORNERS

U.S.

HIG

HWAY

15

U.S.

HIG

HWAY

15

WEST OXFORD WEST OXFORD ELEMENTARY SCHOOLELEMENTARY SCHOOL

HILLTOP VILLAGE HILLTOP VILLAGE SHOPPING CENTERSHOPPING CENTER

CARS PER DAY5,100

CARS PER DAY9,100

CARS PER DAY31,000

HILLSBORO ST./U.S. HIGHWAY 15HILLSBORO ST./U.S. HIGHWAY 15

MONUMENT SIGN

14 NATIONAL NET LEASE GROUP

HILLSBORO ST.

HILLSBORO ST.

M.L.K. JR. AVE.

M.L.K. JR. AVE.

GRANVILLE ST.

GRANVILLE ST.

CARS PER DAY9,100

CARS PER DAY5,100

15 NATIONAL NET LEASE GROUP

LOCATION MAP

CHARLOTTE180 mins 172 miles

OXFORD

2019 ESTIMATED POPULATION

1 Mile 5,828

3 Mile 10,832

5 Mile 14,382

2019 AVERAGE HOUSEHOLD INCOME

1 Mile $56,853

3 Mile $60,355

5 Mile $62,298

2019 ESTIMATED TOTAL EMPLOYEES

1 Mile 3,898

3 Mile 7,377

5 Mile 8,803

GREENSBORO76 mins 81 miles

16 NATIONAL NET LEASE GROUP

AREA OVERVIEW Oxford, North Carolina

The City of Oxford is located in the North Central Piedmont region of North Carolina. The City currently occupies approximately 6.4 square miles. The City of Oxford had a population of 8,734 as of July 1, 2019. Oxford ranks in the upper quartile for Population Density when compared to the other cities, towns and Census Designated Places in North Carolina.

The City of Oxford has a balanced approach to economic development, focusing on small business, commercial, and industrial development. Downtown Oxford catches the spirit of the past, enriches the present and embraces the future. Oxford takes pride in its historical, friendly, walkable community with an array of unique shops, restaurants, and business. Family-oriented events and activities are planned for year-round enjoyment.

The largest industries in Oxford, NC are Health Care & Social Assistance, Manufacturing, and Educational Services, and the highest paying industries are Professional, Scientific, & Technical Services, Information, and Transportation & Warehousing, & Utilities. The most common jobs held by residents of Oxford, NC, by number of employees, are Office & Administrative Support Occupations, Production Occupations, and Sales & Related Occupations. Compared to other places, Oxford, NC has an unusually high number of residents working as Health Technologists & Technicians, Healthcare Support Occupations, and Law Enforcement Workers Including Supervisors. The highest paid jobs held by residents of Oxford, NC, by median earnings, are Legal Occupations, Management Occupations, and Management, Business, & Financial Occupations.

North Carolina Museum of Life and Science, Duke Homestead State Historic Site, Kerr Lake State Recreation Area, Granville County Museum, and J.C. Raulston Arboretum are some of the attractions. Granville County Museum, located in Oxford features rotating exhibits reflecting the region’s science, art, history, and culture. North Carolina Museum of Life and Science is also nearby. Duke Homestead State Historic Site, which was the farmhouse of Washington Duke and his son James Buchanan Duke, is a place of historic interest in the area. Visitors can enjoy boating, camping, swimming, hiking, fishing, and picnicking at the Kerr Lake State Recreation Area. J.C. Raulston Arboretum is another popular place to visit.

Colleges near Oxford are Vance - Granville Community College, Durham Technical Community College, Duke University, and North Carolina Central University.

Raleigh - Durham International Airport is the closest major airport.

17 NATIONAL NET LEASE GROUP

AREA DEMOGRAPHICS

1 MILE 3 MILES 5 MILES

2019 Estimated Population 5,828 10,832 14,382

2024 Projected Population 5,901 11,187 15,068

2010 Census Population 5,691 10,522 13,939

Projected Annual Growth 2019 to 2024 0.25% 0.65% 0.94%

Historical Annual Growth 2010 to 2019 0.27% 0.34% 0.36%

2019 Estimated Households 2,368 4,394 5,727

2024 Projected Households 2,410 4,558 6,017

2010 Census Households 2,280 4,206 5,478

Projected Annual Growth 2019 to 2024 0.35% 0.74% 0.99%

Historical Annual Growth 2010 to 2019 0.43% 0.50% 0.50%

2019 Estimated White 35.65% 40.26% 44.05%

2019 Estimated Black or African American 57.88% 53.43% 49.24%

2019 Estimated Asian or Pacific Islander 0.91% 0.86% 0.79%

2019 Estimated American Indian or Native Alaskan 0.60% 0.43% 0.40%

2019 Estimated Other Races 3.04% 3.83% 5.29%

2019 Estimated Hispanic 6.30% 6.49% 7.86%

2019 Estimated Average Household Income $56,853 $60,355 $62,298

2019 Estimated Median Household Income $38,529 $42,746 $45,447

2019 Estimated Per Capita Income $23,403 $24,472 $24,819

2019 Estimated Total Businesses 383 586 638

2019 Estimated Total Employees 3,898 7,377 8,803

ACTUAL SITE 18 NATIONAL NET LEASE GROUP

For financing options and loan quotes:Please contact our SRS Debt & Equity team at debtequity-npb@srsre.com.

RENT ROLL

Lease Term Rental Rates

TENANT NAMESQUARE

FEETLEASE START

LEASE END

BEGIN INCREASE MONTHLY PSF ANNUALLY PSFRECOVERY

TYPEOPTIONS

Walgreens Boots Alliance, Inc.

14,820 Sep 2019 Aug 2034 Current - $33,333 $2.25 $400,000 $26.99 Absolute NNN 10 (5-Year)

(Corporate Guaranty)

FINANCIAL INFORMATION

Price $6,895,000

Net Operating Income $400,000

Cap Rate 5.80%

Lease Type Absolute NNN

PROPERTY SPECIFICATIONS

Year Built 2008

Rentable Area 14,820 SF

Land Area 2.00 Acres

Address 201 Hillsboro Street Oxford, NC 27565

REPRESENTATIVE PHOTO 19 NATIONAL NET LEASE GROUP

BRAND PROFILE

PARENT

Walgreens Boots Alliance

COMPANY TYPE 2019 EMPLOYEES 2019 REVENUE

Subsidiary 232,000 $131.87 B

2019 NET INCOME 2019 ASSETS 2019 EQUITY CREDIT RATING

$3.98 B $67.60 B $23.51 B S&P: BBB

Walgreens walgreens.com

Walgreens, one of the nation’s largest drugstore chains, is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), a global leader in retail and wholesale pharmacy. Walgreens is proud to be a neighborhood health, beauty and retail destination supporting communities across the country, and was named to FORTUNE magazine’s 2019 Companies that Change the World list. Approximately 8 million customers interact with Walgreens in stores and online each day. As of August 31, 2019, Walgreens operates 9,277 drugstores with a presence in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands, along with its omnichannel business, Walgreens.com. Walgreens also provides specialty pharmacy and mail services and offers in-store clinics and other health care services throughout the United States. Walgreens Boots Alliance is the parent company of Walgreens.

RETAIL PROFESSIONALS

OFFICES LARGEST REAL ESTATE SERVICES FIRMin North America

exclusively dedicated to retail

RETAIL LISTINGSin 2018

TRANSACTION VALUEin 2018

275+ 25+ #1 1500+ $2.6B

SRS NATIONAL NET LEASE GROUP IS THE EXCLUSIVE NET LEASE CAPITAL MARKETS TEAM OF SRS REAL ESTATE PARTNERS.

This Offering Memorandum has been prepared by SRS National Net Lease Group (SRS) and has been approved for distribution by the owner. Although effort has been made to provide accurate information, neither the owner nor SRS can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made

available to the purchaser. Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor SRS represents that this offering summary is all inclusive or contains all of the information a purchaser may require. All of the financial projections and/or conclusions presented herein are provided strictly for reference purposes and have been developed based upon assumptions and conditions in effect at the time the evaluations were undertaken. They do not

purport to reflect changes in the economic performance of the property or the business activities of the owner since the date of preparation of this Offering Memorandum. The projected economic performance of the property, competitive submarket conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified

purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment.

*Statistics are for 2018

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