WALGREENS 630 Blanding Blvd. Orange Park, FL 32073 ...

WALGREENS 630 Blanding Blvd.Orange Park, FL 32073 (Jacksonville MSA)

NET LEASE INVESTMENT OFFERING

TABLE OF CONTENTS

I. Executive Profile Executive Summary

Investment Highlights

Property Overview

II. Location Overview Photographs

Aerial

Site Plan

Maps

III. Market & Tenant Overview Demographic Report

Market Overview

Tenant Overview

TABLE OF CONTENTS


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.

DISCLAIMERSTATEMENT:

DISCLAIMER STATEMENT



EXECUTIVESUMMARY:

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens located within the Jacksonville MSA. The property is strategically located at a heavily trafficked signalized intersection in a strong retail corridor. Walgreens is committed to this location as evidenced by their recent execution of their first five year renewal option. The Walgreens lease expires February 28, 2022 and features seven more 5-year renewal option periods.

The 13,905 square foot Walgreens is strategically located at the heavily trafficked signalized intersection of Blanding Boulevard and Constitution Drive. This intersection experiences traffic counts in excess of 59,000 vehicles per day. Blanding Boulevard is the primary north-south thoroughfare in the trade area that connects Orange Park to Jacksonville. The Walgreens is located approximately three miles south of Interstate 295. The property is located across the street from an Academy Sports and LA Fitness anchored shopping center. Other national retailers in the immediate trade area include Walmart Supercenter, BJ’s Wholesale Club, Ross, Bealls, Lowe’s, and Publix. There are over 130,000 people living within a five mile radius of the property.

Walgreens is the largest drug retailing chain in the United States and has over 8,100 locations in the U.S.A. Walgreens is publicly traded on the New York Stock Exchange (WBA) with a market capitalization in excess of $90 billion. Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment grade rated each with a Standard & Poor’s rating of BBB.

EXECUTIVE SUMMARY


INVESTMENT HIGHLIGHTS:

• Located within the Jacksonville MSA

• Walgreens is committed to this location as evidenced by their recent execution of their first 5 year renewal option

• Long operating history at this location (since 1997) with an established customer base

• Investment grade rated tenant (S&P: BBB)

• Positioned at the hard corner of a heavily trafficked signalized intersection (59,300 VPD)

• Across the street from an Academy Sports & LA Fitness shopping center

• Additional retailers located in the immediate area include Walmart Supercenter, BJ’s Wholesale Club, Ross, Bealls, Lowe’s, and Publix

• Strategically located along a primary north-south thoroughfare that connects Orange Park to Jacksonville

• Over 130,000 people live within 5 miles of the property earning in excess of $75,000 annually

• Drive-Thru Pharmacy

• Income tax free state

INVESTMENT HIGHLIGHTS


PROPERTY OVERVIEW:

PROPERTY OVERVIEW

Price: $3,757,575

Cap Rate: 6.60%

Net Operating Income: $248,000

Rent Commencement Date: February 9, 1997

Lease Expiration Date: February 28, 2022

Renewal Options: Seven 5-Year remaining

Tenant: Walgreens

Credit Rating: Investment Grade (S&P: BBB)

Year Built: 1997

Lease Type: NN (Roof, Structure & Parking Lot Replacement)

Building Size: 13,905 SF

Land Size: 2.50 Acres


PHOTOGRAPHS


AERIAL

B L A N D I NG B

LV D ( 5 9 , 3 0 0 VP D )


SITE PLAN

B L A N D I N G B L V D ( 5 9 , 3 0 0 V P D )

CO

NS T

I TU

TI O

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MAPS


MAPS

DEMOGRAPHICREPORT:

DEMOGRAPHIC REPORT

Population 1-Mile 3-Mile 5-Mile

Total Population 9,768 50,947 133,528

Total Households 3,707 18,857 48,890

Income 1-Mile 3-Mile 5-Mile

Average Household Income $79,824 $79,252 $75,900

MARKET OVERVIEW

MARKETOVERVIEW:

JacksonvilleJacksonville is the largest city by population in the state of Florida and the largest city by area in the contiguous United States. It is the county seat of Duval County. With an estimated 2014 population of 853,382, Jacksonville is the most populated city in the Southeast and 12th most populated city in the United States. The Jacksonville MSA has a total population of approximately 1,350,000 people.

Jacksonville is in the First Coast region of northeast Florida and is centered on the banks of the St. Johns River, about 25 miles south of the Georgia state line and about 340 miles north of Miami. The Jacksonville Beaches communities are along the adjacent Atlantic coast. Harbor improvements since the late 19th century have made Jacksonville a major military and civilian deep-water port. Its riverine location facilitates two United States Navy bases and the Port of Jacksonville. The two US Navy bases, Blount Island Command and the nearby Naval Submarine Base Kings Bay form the third largest military presence in the United States.

Jacksonville has the largest deepwater port in the South (as well as the second-largest port on the U.S. East coast) and a leading port in the U.S. for automobile imports, as well as the leading transportation and distribution hub in the state. However, the strength of the city’s economy lies in its broad diversification. While the area once had many thriving dairies such as Gustafson’s Farm and Skinner Dairy, this aspect of the economy has declined over time. The area’s economy is balanced among distribution, financial services, biomedical technology, consumer goods, information services, manufacturing, insurance and other industries. Jacksonville is home to many prominent corporations and organizations, including the headquarters of four Fortune 500 companies: CSX Corporation, Fidelity National Financial, Fidelity Na-tional Information Services and Southeastern Grocers.

Interstate Highways 10 and 95 intersect in Jacksonville, forming the busiest intersection in the region with 200,000 vehicles each day. There are seven bridges over the St. Johns River at Jacksonville.

TENANT OVERVIEW

Walgreens Boots Alliance Inc.Walgreens Boots Alliance, Inc. operates as a pharmacy-led health and wellbeing company. The company operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of general merchandise, including non-prescription drugs, beauty products, photo finishing, seasonal merchandise, greeting cards, and convenience foods through its retail drugstores and convenient care clinics. It also provides specialty pharmacy services; and manages in-store clinics under the brand Healthcare Clinic. As of August 31, 2015, this segment operated 8,173 retail stores under the Walgreens and Duane Reade brands in the United States; and 7 specialty pharmacy locations, as well as managed approximately 400 Healthcare Clinics. Walgreens Boots Alliance, Inc. was founded in 1901 and is based in Deerfield, Illinois.

The Walgreen Company is the largest drug retailing chain in the United States. The company is publicly traded on the NASDAQ (WBA) with a market capitalization in excess of $86 billion. Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment grade rated each with a Standard & Poor’s rating of BBB.

Website: www.walgreens.comNumber of Locations: 8,173Stock Symbol: WBA : NASDAQStandard & Poor’s Rating: BBBMarket Capitalization: $90 Billion

TENANT OVERVIEW:

666 Dundee Road, Suite 1801Northbrook, IL 60062

www.bouldergroup.com

Randy [email protected]

John FeeneyVice [email protected]

WALGREENS 630 Blanding Blvd. Orange Park, FL 32073 ...

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