Walgreens Net Lease Property

NET LEASED INVESTMENT OFFERING

Walgreens1229 North Eastern Avenue

Moore, OK (Oklahoma City MSA)

CONFIDENTIAL OFFERING MEMORANDUM

www.bouldergroup.com



TABLE OF CONTENTS

TABLE OF CONTENTS

1)

2)

3)

4)

5)

6)

7)

8)

9)

10)

Confidentiality & Disclaimer

Executive Summary

Property Overview

Site Plan

Aerial

Maps

Tenant Profile

Demographic Comparison Report

Location Overview

Contact Information



CONFIDENTIALITY & DISCLAIMER

CONFIDENTIALITY & DISCLAIMER

The information contained in the following Marketing Brochure 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 Marketing Brochure 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, with respect to the income or expenses for the subject

property, the future projected financial performance of the property, the size and square footage of the property and

improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and

Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of

any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in

this Marketing Brochure 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.

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property located within the Oklahoma City metropolitan area. The 15,120 square foot Walgreens was built in 2001 and is located in the southern portion of the Oklahoma City MSA. Oklahoma City is a growing city and is home to the headquarters of Devon Energy. Devon Energy is among the largest U.S. based independent natural gas and oil producers and is currently building their new 50 story headquarters downtown. Moore is located less than fifteen miles south of downtown Oklahoma City and will benefit from Oklahoma City’s continued growth.

The property is located on North Eastern Avenue approximately 1.2 miles away from Interstate 35. North Eastern Avenue is a primary north-south thoroughfare of Moore with approximately 15,000 vehicles using this roadway daily. The cross street of 12th Street also has approximately 15,000 vehicles per day and is a direct interchange with Interstate 35. The subject is benefitted by a traffic signal on the hard corner creating constant traffic flow at the property. The property is surrounded by single family homes and other commercial users. Platte College and multiple elementary and middle schools are within one mile of the property.

Walgreens original lease term was for 20 years with ten 5-year renewal options and the lease expires in March 2021. Walgreens is a publicly traded company on the New York Stock Exchange (WAG), with a market capitalization of $39.9 Billion. Walgreens is an investment grade company with a Standard & Poor’s rating of A.

INVESTMENT HIGHLIGHTS



EXECUTIVE SUMMARY

EXECUTIVE SUMMARY

Investment grade tenant Property is located within the Oklahoma City MSALocated at a signalized intersection on the hard cornerClose proximity to Interstate 35 Population of Moore continues to increaseRetail sales growth in Moore above national average



PROPERTY OVERVIEW

PROPERTY OVERVIEW

Price:

Cap Rate:

Net Operating Income:

Rental Escalations:

Renewal Options:

Lease Commencement Date:

Lease Expiration Date:

Tenant:

Credit Rating:

Year Built

Lease Type:

Parking:

Rentable Square Feet:

Land Acreage:

$3,795,000

7.80%

$296,000

None

Eight 5-Year

April 1, 2001

March 31, 2021

Walgreens

A

2001

NN (roof, structure, parking lot replacement)

65 parking spaces

15,120

1.41 Acres



SITE PLAN

SITE PLAN

12th Street

Easte

rnA

venu

e



AERIAL

AERIAL



MAPS

MAPS

SITE

SITE



TENANT PROFILE

TENANT PROFILE

Website:Number of Locations:Stock Symbol: Standard & Poors Rating:Market Capitalization:

www.walgreens.com8,169WAG : NYSEA$39.9 Billion

Walgreens is engaged in retail drugstore business. As of April 30, 2011, the Company operated 8,169 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 March 2011, Walgreens announced that it has completed the acquisition Drugstore.com.



DEMOGRAPHIC COMPARISON REPORT

DEMOGRAPHIC COMPARISON REPORT

Population

Total Population

Total Households

Income

Median Household Income

Average Household Income

3-mile

61,191

23,058

$58,141

$65,115

5-mile

136,020

52,515

$55,515

$65,309

7-mile

239,069

91,841

$48,714

$58,669



LOCATION OVERVIEW

LOCATION OVERVIEW

The economy of Oklahoma City has diversified to include the sectors of information technology, services, health

services and administration. The city has multiple Fortune 500 companies (Devon Energy Corporation and

Chesapeake Energy Corporation), several others that are in the Fortune 1000 and a number of large privately owned

companies. Additionally, AT&T and COX Enterprises have regional headquarters within the MSA. The largest employer

in Oklahoma City is the State of Oklahoma with 38,000 employees. Tinker Air Force Base is second with 24,000

employees. With plentiful job opportunities and job growth of over 20% since 2000, Oklahoma City’s unemployment

remains around 5.8%, well below the national average.

Moore is the seventh largest city in Oklahoma and accounts for over 20% of Cleveland County. The leading employer of

Moore is Convergys Corporation with 1,350 employees followed by Vaughan Foods, Moore Medical Center, Hyatt

Shared Service Center and Silver Star Construction.

Moore’s population is expected to grow by 8.2% through 2015. While Moo re is growing it has managed to keep

unemployment at 6.3% in 2010, more than three percent less than the national average. Moore’s retail market claims

remarkable sales growth of 7.7% since 2006 and approximately $12,000 of retail sales per person in 2010.

Oklahoma City is the capital and largest city in the state of Oklahoma.

According to the 2010 census Oklahoma City has a population of

579,999 with an estimated metropolitan area population of

1,252,987, ranking it 31st among other U.S. cities in population.

Moore is located in the northwest portion of Cleveland County and

located about 12 miles south of Oklahoma City. Moore is included in the

Oklahoma City Metropolitan Area. a progressive city



CONTACT INFORMATION

CONTACT INFORMATION

666 Dundee Road Suite 1801Northbrook, IL 60062

|

Randy [email protected]

Jimmy [email protected]

Walgreens Net Lease Property

Real Estate

Transcript of Walgreens Net Lease Property