Walgreens Pharmacy Lee, New Hampshire Just one hour north of downtown Boston • On New Hampshire’s 2nd busiest traffic circle • 46,000 vehicles per day at site entrance • 3.8 miles west of University of New Hampshire • Lease and rent started October 12, 2009 • Walgreens corporate guarantee (NYSE:WAG) • New construction, 75 year NNN lease • Zero management responsibilities • $5,300,000 7.65% CAP Rate File photo (store is under construction) John Giordani Arthur Griffith (888) 733-4779 [email protected]
16
Embed
Walgreens Pharmacy Lee, New Hampshire · 2010-03-22 · Walgreens Pharmacy Lee, New Hampshire • Just one hour north of downtown Boston • On New Hampshire’s 2nd busiest traffic
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
The Town of Lee is located just west of the University of New Hampshire. The site is located on Route 4 and Route 125 at the famous Lee Traffic Circle, the State of New Hampshire’s 2nd busi-est traffic circle. Route 125 traffic count equal 16,100 vehicles per day (vpd) south of the circle and 23,700 vpd north of the circle (site entrance). Route 4 west of the circle carries 16,800 vpd and Route 4 east of the circle (site entrance) is 21,900 vpd. In essence, the site carries nearly 46,000 vpd by its entrances. Other national retailers on the circle include: McDonald’s, Wen-dy’s, Mobil, Dunkin’ Donuts, Market Basket, Radio Shack, Sunoco, Rite Aid and Movie Scene. Lot size is large due to the long driveway to Route 4.
Year Built
Bldg Size
Lot Size
$5,300,000
7.65%
$405,000
None
Buyer to obtain new debt at market. Please call to discuss options.
Route 4 and Route 125
Lee
Hew Hampshire
Walgreens (NYSE:WAG)
October 12, 2009
None
75 years
Starting in year 26 Tenant may terminate lease with 12 months notice.
None. True NNN with zero landlord responsibilities.
Walgreens is the #1 pharmacy in America by any measure. Founded in 1909, and traded on the New York Stock Exchange (NYSE:WAG), Walgreens operates 6,443 stores in 49 states. Walgreens is widely regarded as the safest, most secure single-tenant NNN leased invest-ment property because of its strong balance sheet and market capitalization. For the fiscal year ended August 31, 2008:
Sales were over $59.03 billion•Profit was over $2.15 billion•Net worth was over $12.86 billion•
Founded in 1901, Walgreens provides the most convenient access to consumer goods and services, and phar-macy, health and wellness services, in America. The company has recorded 34 consecutive years of record sales and earnings, a track record matched by only one other Fortune 500 company.
Walgreens is taking steps to ensure the company’s continued success in the face of a weakening economy. They are transforming into a more efficient and customer-focused company, both for drugstore customers and for patients and payors seeking quality pharmacy, health and wellness services that are accessible and affordable.
Managing through difficult economic timesThey are currently conducting a company-wide initiative to align their costs, culture and capabilities to our strategy and to the realities of the current economic environment. They are targeting approximately $1 billion in annual cost reductions by 2011 through more efficient processes, strategic sourcing and plans to reduce corpo-rate overhead and work throughout our stores.
In the pharmacy, they are working to fill prescriptions more efficiently. They’re in the early stages of rolling out a new initiative to transform – and advance – the practice of community pharmacy. Currently, they’ve focused on their Florida stores where they’ve moved tasks such as phone calls, prescription data entry and insurance verifi-cation from individual stores to more efficient central processing facilities.
Adjusting our organic store growthWalgreens remains among the fastest growing retailers in the country, even with their planned slowdown of organic growth from the current 9 percent rate to a rate of between 2.5 and 3 percent by 2011. Slower growth offers two big positives: first, more time to develop their management ranks and focus on improving the cus-tomer experience; and second, greater flexibility to invest in opportunities that will strengthen their core retail base and deliver attractive returns to their shareholders.
Growing our health clinics and specialty pharmacy businessThey’re growing their health clinics and specialty pharmacy business to complement their drugstores. They now operate more than 680 health and wellness clinics in their stores and on employer worksites. Since acquiring two worksite health center companies last spring, they’ve integrated these services into their new Health and Wellness division, which plans to expand to 800 sites by the end of fiscal 2009. Their health centers on or near employer campuses offer diverse services including primary and acute care; wellness, pharmacy and disease management services; and health and fitness programming. Employers recognize the significant value and cost savings these centers can provide.
Both their retail health clinics and worksite facilities will position them as one of the nation’s foremost providers of health and wellness services. They are highly complementary to their retail pharmacies and increase aware-ness of their Walgreens brand.
Fortune magazine America’s Most Admired Companies published March 17, 2008Walgreens ranked fifth among food and drugstores and is listed for the 15th consecutive year.
Fortune magazine Global Most Admired Companies published March 17, 2008Walgreens ranked seventh among food and drugstores and No. 36 among the 50 most admired companies.
Fortune magazine 500 Largest U.S.-Based Companies published May 5, 2008Walgreens ranked 40th overall in revenue, third among food and drugstores.
Fortune magazine 40 Best Stocks To Retire On published June 23, 2008Walgreens made the list of recommended Bargain Growth stocks.
Fortune magazine Global 500 Largest Companies published July 21, 2008Walgreens ranked 125th overall in revenue.
Forbes Platinum 400 List published January 12, 2009Walgreens again made this list of the best performing big companies in the United States
Forbes Global 2000 published April 21, 2008Walgreens ranked 250th on this list of the 2000 largest public companies worldwide.
Moody’sWalgreens current rating is A2.
Standard and Poor’sWalgreens current rating is A+.
Summary 2000 2009 2014 Population 1,096 1,249 1,317 Households 420 486 514 Families 297 339 357 Average Household Size 2.61 2.57 2.56 Owner Occupied HUs 310 358 373 Renter Occupied HUs 110 127 142 Median Age 35.3 37.9 38.0
Trends: 2009-2014 Annual Rate Area State National Population 1.07% 0.36% 0.91% Households 1.13% 0.56% 0.94% Families 1.04% 0.35% 0.74% Owner HHs 0.82% 0.36% 1.19% Median Household Income 0.89% 0.81% 0.80%
2000 2009 2014Race and Ethnicity Number Percent Number Percent Number Percent White Alone 1,060 96.7% 1,194 95.7% 1,249 94.8% Black Alone 5 0.5% 6 0.5% 7 0.5% American Indian Alone 2 0.2% 3 0.2% 3 0.2% Asian Alone 13 1.2% 25 2.0% 35 2.7% Pacific Islander Alone 2 0.2% 2 0.2% 3 0.2% Some Other Race Alone 4 0.4% 6 0.5% 7 0.5% Two or More Races 10 0.9% 12 1.0% 13 1.0% Hispanic Origin (Any Race) 12 1.1% 19 1.5% 23 1.7%Data Note: Income is expressed in current dollars.Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2009 and 2014.
Summary 2000 2009 2014 Population 5,513 6,275 6,613 Households 2,051 2,362 2,499 Families 1,480 1,682 1,770 Average Household Size 2.66 2.63 2.62 Owner Occupied HUs 1,558 1,791 1,859 Renter Occupied HUs 493 570 640 Median Age 35.5 38.0 37.9
Trends: 2009-2014 Annual Rate Area State National Population 1.05% 0.36% 0.91% Households 1.13% 0.56% 0.94% Families 1.03% 0.35% 0.74% Owner HHs 0.75% 0.36% 1.19% Median Household Income 1.06% 0.81% 0.80%
2000 2009 2014Race and Ethnicity Number Percent Number Percent Number Percent White Alone 5,320 96.5% 5,987 95.4% 6,255 94.6% Black Alone 23 0.4% 31 0.5% 36 0.5% American Indian Alone 11 0.2% 15 0.2% 16 0.2% Asian Alone 70 1.3% 132 2.1% 181 2.7% Pacific Islander Alone 10 0.2% 11 0.2% 12 0.2% Some Other Race Alone 21 0.4% 30 0.5% 36 0.5% Two or More Races 57 1.0% 69 1.1% 76 1.1% Hispanic Origin (Any Race) 58 1.1% 91 1.5% 117 1.8%Data Note: Income is expressed in current dollars.Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2009 and 2014.
Summary 2000 2009 2014 Population 21,586 24,108 24,853 Households 6,131 6,903 7,210 Families 4,023 4,536 4,732 Average Household Size 2.76 2.74 2.72 Owner Occupied HUs 4,250 4,877 5,039 Renter Occupied HUs 1,881 2,026 2,171 Median Age 24.0 24.4 24.8
Trends: 2009-2014 Annual Rate Area State National Population 0.61% 0.36% 0.91% Households 0.87% 0.56% 0.94% Families 0.85% 0.35% 0.74% Owner HHs 0.66% 0.36% 1.19% Median Household Income 1.07% 0.81% 0.80%
2000 2009 2014Race and Ethnicity Number Percent Number Percent Number Percent White Alone 20,614 95.5% 22,626 93.9% 23,049 92.7% Black Alone 130 0.6% 173 0.7% 192 0.8% American Indian Alone 50 0.2% 65 0.3% 69 0.3% Asian Alone 487 2.3% 875 3.6% 1,144 4.6% Pacific Islander Alone 25 0.1% 33 0.1% 35 0.1% Some Other Race Alone 72 0.3% 97 0.4% 112 0.5% Two or More Races 208 1.0% 239 1.0% 250 1.0% Hispanic Origin (Any Race) 241 1.1% 373 1.5% 458 1.8%Data Note: Income is expressed in current dollars.Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2009 and 2014.