Walgreens Pharmacy #13660 Long-Term in TennesseeWalgreens Boots Alliance is the largest retail...

Walgreens Pharmacy #13660 Long-Term in Tennessee

• 17+ years guaranteed rent

• Centrally located in middle of primary retail trade area in town

• Less than 1/2 mile from Medical Center

• Aging demographic is ideal Walgreens customer ~22% of 1 mile population is 65+ years of age

• Other national retailers in area include: Tractor Supply Co., McDonald’s, AutoZone, Lowe’s and others...

• True NNN lease with no landlord responsibilities

• Tennessee has no state income tax

• Full guarantee by Walgreens corporation

$6,365,000

5.75%CAP Rate

DeerfieldPartnersJohn GiordaniArtGriffith(888) [email protected]

Full Parking Lot = Strong Sales Volumes

Walgreens Pharmacy #13660 Jonesborough, Tennessee

DeerfieldPartnersJohn GiordaniArt GriffithCall: (888) 258-7605Email: [email protected]

This Walgreens is one of the longest remaining lease terms available for sale in the market today. (New Walgreensleasesareonly15yearsguaranteed.)Thestoreisideallysituatedatthehightrafficintersectionof East Jackson Blvd. and Boones Creek Road. Neighboring retailers at the intersection include many nationallyrecognizedbrands,aswellaslocalandregionalbanks.Thispharmacysitesurelybenefitsfromthe proximity of an Urgent Care just one block down and around the corner, and the Jonesborough Medical Center a half mile down the road.

Investment Summary

1 Mile 3 Mile 5 Mile

Population 2,616 14,023 42,612Avg. HH Income $81,610 $82,824 $74,982

Price $6,365,000CAP Rate 5.75%

Annual Income $366,000Years Guaranteed 17+ years NNN



Property Details and Lease SummaryAddress 531 East Jackson Blvd., Jonesborough, TN 37659

Year Built 2011Building Size 14,820 Square Feet

Lot Size 1.34 acresTenant Walgreens (NASDAQ:WBA)

Lease Start Date August 1, 2011Lease End Date August 31, 2086

Termination Options Tenant may terminate as of 8/31/2036, with twelve (12) months written notice.

Centrally Located in Middle of Trade Area



Regional Map



Top Down Aerial for Site Plan Orientation



About Walgreens Boots AllianceWalgreens Boots Alliance (Nasdaq: WBA) is the first global pharmacy-led, health and wellbeing enterprise. The Company’s heritage of trusted healthcare services through community pharmacy care and pharmaceutical wholesaling dates back more than 100 years.

Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the U.S. and Europe. Walgreens Boots Alliance and the companies in which it has equity method investments together have a presence in more than 25* countries and employ more than 385,000* people. The Company is a global leader in pharmacy-led, health and wellbeing retail and, together with the companies in which it has equity method investments, has more than 13,200* stores in 11* countries as well as one of the largest global pharmaceutical wholesale and distribution networks, with more than 390* distribution centers delivering to more than 230,000** pharmacies, doctors, health centers and hospitals each year in more than 20* countries. In addition, Walgreens Boots Alliance is one of the world’s largest purchasers of prescription drugs and many other health and wellbeing products. The Company’s size, scale, and expertise will help us to expand the supply of, and address the rising cost of, prescription drugs in the U.S. and worldwide.

Walgreens Boots Alliance is included in Fortune magazine’s 2018 list of the World’s Most Admired Companies. This is the 25th consecutive year that Walgreens Boots Alliance or its predecessor company, Walgreen Co., has been named to the list.

* As of 31 August 2017, using publicly available information for AmerisourceBergen.**For 12 months ending 31 August 2017, using publicly available information for AmerisourceBergen.



Walgreens Income Statements Trailing 5 Years



Walgreens Boots Alliance -- Segment Structure

8

Walgreens Boots Alliance – Segment Structure

The largest retail pharmacy chain in Europe

A leading global pharmaceutical wholesaler

and distributor

A leading drugstore chain in the USA

The first global pharmacy-led, health and wellbeing enterprise in the world



Walgreens Boots Alliance -- Retail Pharmacy USA DivisionOur Retail Pharmacy USA Division’s principal retail pharmacy brands are Walgreens and Duane Reade. Together, they form one of the largest drugstore chains in the U.S., operating 8,100* drugstores in 50* states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. As of August 2017, approximately 76 percent of the population of the U.S. lives within five miles of a Walgreens or Duane Reade.

We sell prescription and non-prescription drugs, as well as general merchandise, including household items, convenience and fresh foods, personal care, beauty care, photofinishing and candy. We offer our products and services through drugstores, as well as through mail, telephone and online. We also provide specialty pharmacy and respiratory services, and operate retail clinics.

Our services help improve health outcomes for patients and manage costs for payers including employers, managed care organizations, health systems, pharmacy benefit managers and the public sector. Our stores sell branded and own brand general merchandise. In addition, Walgreens has approximately 400 in-store clinic locations throughout the U.S., some of which are operated by the Company and some of which are operated by health system partners.

Prescription drugs account for 69 percent† of sales, while retail products are 31 percent.

Overall, we filled approximately 764 million† prescriptions in fiscal 2017. Adjusted to 30-day equivalents, we filled approximately 990 million† prescriptions in fiscal 2017. Third party sales, where reimbursement is received from managed care organizations, government and private insurance, were approximately 98 percent† of prescription sales.

We utilize our extensive retail network as a channel to provide affordable quality health and wellness services to our customers and patients, as illustrated by our ability to play a significant role in providing flu vaccines and other immunizations.

We have more than 78,000* healthcare service providers, including pharmacists, pharmacy technicians, nurse practitioners and other health related professionals. Through them we expect to continue to play a growing role in government and employer efforts to control escalating healthcare costs.

Our loyalty program, Balance® Rewards, is designed to reward our most valuable customers and encourage shopping in stores and online and allows customers the opportunity to earn points for purchasing select merchandise in addition to receiving special pricing on select products when shopping with a rewards card. Customers have the ability to instantly redeem rewards at our stores or through Walgreens.com. We had 88 million Balance® Rewards active members as of August 2017.

The Division’s strategy is designed to further transform our traditional drugstore by offering ultimate convenience, driving the best customer loyalty and delivering extraordinary customer and patient care. We seek to expand our product and service offerings across new channels and markets where, in addition to our stores, customers and patients can utilize our health system pharmacies, Walgreens.com, mobile applications and social media sites.



Walgreens Drugstores Nationwide by State



Demographics - 1 Mile Radius

Demographic and Income Profile531 E Jackson Blvd, Jonesborough, Tennessee, 37659 Prepared by EsriRing: 1 mile radius Latitude: 36.30057

Longitude: -82.46405

AreaStateUSA

Trends 2018-2023Trends 2018-2023

Ann

ual R

ate

(in

perc

ent)

3

2.5

2

1.5

1

0.5

0Population Households Families Owner HHs Median HH Income

20182023

Population by AgePopulation by Age

Perc

ent

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

2018 Household Income 2018 Household Income

<$15K13.6%

$15K - $24K11.5%

$25K - $34K8.9%

$35K - $49K18.0%

$50K - $74K12.3%

$75K - $99K11.4%

$100K - $149K11.3%

$150K - $199K4.7%

$200K+8.4%

2018 Population by Race2018 Population by Race

Perc

ent

90

80

70

60

50

40

30

20

10

0White Black Am. Ind. Asian Pacific Other Two+

2018 Percent Hispanic Origin: 2.4%

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2018 and 2023.

October 22, 2018

©2018 Esri Page 2 of 6






Summary Census 2010 2018 2023Population 2,510 2,616 2,726Households 984 1,053 1,096Families 664 700 724Average Household Size 2.43 2.39 2.40Owner Occupied Housing Units 727 720 749Renter Occupied Housing Units 257 333 347Median Age 42.2 44.2 44.4

Trends: 2018 - 2023 Annual Rate Area State NationalPopulation 0.83% 0.89% 0.83%Households 0.80% 0.87% 0.79%Families 0.68% 0.74% 0.71%Owner HHs 0.79% 0.96% 1.16%Median Household Income 3.26% 1.94% 2.50%

2018 2023 Households by Income Number Percent Number Percent

<$15,000 143 13.6% 119 10.9%$15,000 - $24,999 121 11.5% 108 9.9%$25,000 - $34,999 94 8.9% 87 7.9%$35,000 - $49,999 189 17.9% 189 17.2%$50,000 - $74,999 129 12.3% 143 13.0%$75,000 - $99,999 120 11.4% 135 12.3%$100,000 - $149,999 119 11.3% 140 12.8%$150,000 - $199,999 49 4.7% 60 5.5%$200,000+ 88 8.4% 114 10.4%

Median Household Income $47,766 $56,071Average Household Income $81,610 $95,217Per Capita Income $36,460 $42,471

Census 2010 2018 2023 Population by Age Number Percent Number Percent Number Percent

0 - 4 132 5.3% 125 4.8% 130 4.8%5 - 9 131 5.2% 130 5.0% 135 5.0%10 - 14 144 5.7% 135 5.2% 141 5.2%15 - 19 131 5.2% 136 5.2% 139 5.1%20 - 24 158 6.3% 158 6.0% 156 5.7%25 - 34 318 12.7% 336 12.8% 349 12.8%35 - 44 332 13.2% 314 12.0% 332 12.2%45 - 54 385 15.3% 333 12.7% 320 11.7%55 - 64 368 14.6% 379 14.5% 364 13.4%65 - 74 248 9.9% 331 12.6% 359 13.2%75 - 84 127 5.1% 181 6.9% 229 8.4%

85+ 38 1.5% 59 2.3% 71 2.6%Census 2010 2018 2023

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 2,344 93.3% 2,410 92.2% 2,484 91.1%Black Alone 74 2.9% 87 3.3% 97 3.6%American Indian Alone 5 0.2% 5 0.2% 7 0.3%Asian Alone 25 1.0% 33 1.3% 42 1.5%Pacific Islander Alone 0 0.0% 0 0.0% 0 0.0%Some Other Race Alone 22 0.9% 27 1.0% 31 1.1%Two or More Races 41 1.6% 53 2.0% 66 2.4%

Hispanic Origin (Any Race) 52 2.1% 64 2.4% 76 2.8%Data Note: Income is expressed in current dollars.


October 22, 2018







AreaStateUSA

Trends 2018-2023Trends 2018-2023

Ann

ual R

ate

(in

perc

ent)

2.42.2

21.81.61.41.2

10.80.60.40.2


20182023


Perc

ent

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+


<$15K11.0%

$15K - $24K9.8%

$25K - $34K11.1%

$35K - $49K17.1%

$50K - $74K16.5%

$75K - $99K10.6%

$100K - $149K11.1%

$150K - $199K4.4%

$200K+8.3%


Perc

ent

90

80

70

60

50

40

30

20

10




October 22, 2018







Summary Census 2010 2018 2023Population 13,403 14,023 14,579Households 5,536 5,849 6,094Families 3,850 4,012 4,159Average Household Size 2.35 2.34 2.34Owner Occupied Housing Units 4,244 4,197 4,391Renter Occupied Housing Units 1,292 1,652 1,704Median Age 41.3 43.5 44.3



<$15,000 645 11.0% 537 8.8%$15,000 - $24,999 575 9.8% 510 8.4%$25,000 - $34,999 651 11.1% 602 9.9%$35,000 - $49,999 998 17.1% 992 16.3%$50,000 - $74,999 965 16.5% 1,036 17.0%$75,000 - $99,999 622 10.6% 691 11.3%$100,000 - $149,999 649 11.1% 778 12.8%$150,000 - $199,999 256 4.4% 321 5.3%$200,000+ 487 8.3% 627 10.3%



0 - 4 737 5.5% 691 4.9% 704 4.8%5 - 9 724 5.4% 746 5.3% 753 5.2%10 - 14 788 5.9% 782 5.6% 820 5.6%15 - 19 727 5.4% 711 5.1% 749 5.1%20 - 24 800 6.0% 737 5.3% 704 4.8%25 - 34 1,726 12.9% 1,774 12.6% 1,736 11.9%35 - 44 1,853 13.8% 1,839 13.1% 1,958 13.4%45 - 54 2,024 15.1% 1,846 13.2% 1,827 12.5%55 - 64 1,934 14.4% 2,012 14.3% 1,973 13.5%65 - 74 1,257 9.4% 1,736 12.4% 1,894 13.0%75 - 84 634 4.7% 871 6.2% 1,128 7.7%

85+ 200 1.5% 281 2.0% 334 2.3%Census 2010 2018 2023

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 12,555 93.7% 12,976 92.5% 13,355 91.6%Black Alone 344 2.6% 403 2.9% 448 3.1%American Indian Alone 32 0.2% 34 0.2% 37 0.3%Asian Alone 140 1.0% 186 1.3% 233 1.6%Pacific Islander Alone 4 0.0% 7 0.0% 8 0.1%Some Other Race Alone 133 1.0% 163 1.2% 186 1.3%Two or More Races 194 1.4% 255 1.8% 312 2.1%

Hispanic Origin (Any Race) 307 2.3% 383 2.7% 451 3.1%Data Note: Income is expressed in current dollars.


October 22, 2018







AreaStateUSA

Trends 2018-2023Trends 2018-2023

Ann

ual R

ate

(in

perc

ent)

2.42.2

21.81.61.41.2

10.80.60.40.2


20182023


Perc

ent

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+


<$15K12.6%

$15K - $24K10.2%

$25K - $34K11.5%

$35K - $49K16.0%

$50K - $74K18.1%

$75K - $99K10.9%

$100K - $149K10.4%

$150K - $199K4.0%

$200K+6.2%


Perc

ent

90

80

70

60

50

40

30

20

10




October 22, 2018







Summary Census 2010 2018 2023Population 39,983 42,612 44,346Households 16,668 17,862 18,617Families 10,769 11,375 11,784Average Household Size 2.33 2.33 2.32Owner Occupied Housing Units 11,621 11,504 12,057Renter Occupied Housing Units 5,047 6,357 6,561Median Age 40.1 42.4 43.6



<$15,000 2,249 12.6% 1,894 10.2%$15,000 - $24,999 1,826 10.2% 1,616 8.7%$25,000 - $34,999 2,058 11.5% 1,919 10.3%$35,000 - $49,999 2,854 16.0% 2,885 15.5%$50,000 - $74,999 3,239 18.1% 3,516 18.9%$75,000 - $99,999 1,949 10.9% 2,179 11.7%$100,000 - $149,999 1,860 10.4% 2,233 12.0%$150,000 - $199,999 720 4.0% 907 4.9%$200,000+ 1,106 6.2% 1,468 7.9%



0 - 4 2,020 5.1% 1,944 4.6% 1,977 4.5%5 - 9 2,118 5.3% 2,107 4.9% 2,121 4.8%10 - 14 2,248 5.6% 2,238 5.3% 2,321 5.2%15 - 19 2,539 6.4% 2,428 5.7% 2,529 5.7%20 - 24 3,271 8.2% 3,046 7.1% 2,925 6.6%25 - 34 5,040 12.6% 5,573 13.1% 5,307 12.0%35 - 44 5,263 13.2% 5,274 12.4% 5,748 13.0%45 - 54 5,717 14.3% 5,494 12.9% 5,477 12.4%55 - 64 5,405 13.5% 5,926 13.9% 5,923 13.4%65 - 74 3,660 9.2% 5,039 11.8% 5,570 12.6%75 - 84 2,020 5.1% 2,618 6.1% 3,376 7.6%

85+ 682 1.7% 925 2.2% 1,071 2.4%Census 2010 2018 2023

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 37,036 92.6% 38,932 91.4% 40,060 90.3%Black Alone 1,193 3.0% 1,397 3.3% 1,538 3.5%American Indian Alone 104 0.3% 110 0.3% 119 0.3%Asian Alone 535 1.3% 735 1.7% 914 2.1%Pacific Islander Alone 17 0.0% 27 0.1% 32 0.1%Some Other Race Alone 526 1.3% 650 1.5% 749 1.7%Two or More Races 571 1.4% 761 1.8% 934 2.1%

Hispanic Origin (Any Race) 1,114 2.8% 1,398 3.3% 1,650 3.7%Data Note: Income is expressed in current dollars.


October 22, 2018


Walgreens Pharmacy #13660 Long-Term in TennesseeWalgreens Boots Alliance is the largest retail...

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