WALGREENS DRONE FOOTAGE AVAILABLE. Absolute NNN Lease Investment Opportunity. 758 N Ellington Parkway Lewisburg, TN

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1 WALGREENS 758 N Ellington Parkway Lewisburg, TN Absolute NNN Lease Investment Opportunity Click here to view drone footage of the property! DRONE FOOTAGE AVAILABLE STUART FRANKEL PRESIDENT NET LEASED DIVISION SILBER INVESTMENT PROPERTIES (516) Ext. 204 (631) www

2 TABLE OF CONTENT INVESTMENT HIGHLIGHTS PROPERTY PHOTOS AMENITIES MAP AREA OVERVIEW DEMOGRAPHICS TENANT PROFILE CONTACT

3 INVESTMENT HIGHLIGHTS Expiration Date: June 30, 2030 Annual Rent: $267,100 Lease Type: Fee Simple - Absolute NNN Building Size: 14,820 Square Feet Lot Size: 1.8 Acres Cap: 5.75% Options: 5 Years Each Asking Price: $4,645,000 INVESTMENT GRADE TENANT CORNER LOCATION FEE SIMPLE OWNERSHIP VALUE CAN BE DEPRECIATED LONG TERM LEASE REMAINING

4 PROPERTY PHOTOS 04

5 AMENITIES MAP 05

6 REGIONAL AREA OVERVIEW Lewisburg is a small town on the grow with easy proximity to metropolitan Nashville and Huntsville, AL, shopping and dining in Franklin and Murfreesboro and less than a day s drive to 76% of the major U.S. markets thanks to I-65. Lewisburg is family-friendly, business-friendly and always striving to improve its city for its businesses and citizens. Lewisburg has been voted a Top 100 Micropolitan (2013- Site Selection Magazine), earned a High Performance Economic Development Award (2014 Atlas Advertising), has earned Valley Sustainable Community Gold Level Status (2015 TVA and Boyette Strategic Advisors) and is a Benchmark II Three Star Community (2015- TN Economic and Community Development). And there is much to do and see in Lewisburg - Beautiful and Historic Downtown - Lewisburg Recreation Center Complex - Henry Horton State Park - Rock Creek Park & New Lake Park - 5-Mile Greenway & Farmer s Market - Youth Football, Baseball, Softball, Basketball and Soccer Fields - Marshall Co. Community Theatre - Marshall Co. Art Guild - Marshall Co. Memorial Library - Hi-Way 50 Drive-In - Saddle Creek Golf Course - Ellington Airport - Picker s Creek Winery - Four (4) Shopping Centers - Annual Festivals and Events including the Annual Goats, Music - And Much More The Marshall County School System is Ranked Exemplary by the State of Tennessee and with 90% of students graduating, many of whom earned more than $5 million in scholarships in Lewisburg s Cost of Living is 19% below the National Average and the Median Household Income has increased $4,000 ( ). This property is located approximately 18 miles from Columbia, TN Conveniently located less than 6 miles from Interstate 65 Less than 1 hour drive to the state capital, Nashville, TN 06

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8 LOCAL DEMOGRAPHICS 16,495 5 MILE RADIUS POPULATION 6,509 HOUSEHOLDS Lewisburg, TN - 6th Fastest Micropolitan in Nation ,888 OWNER OCCUPIED HOUSEHOLD UNITS $50,591 AVERAGE HOUSEHOLD INCOME 40.1 Median Age $92,720 MEDIAN HOUSEHOLD INCOME Lewisburg, Tennessee is a beautiful small town nestled in the hills of Southern Middle Tennessee providing arts and outdoors, access and affordability. It s a great place to WORK - job growth rate of 3+%; PLAY - parks and recreation system that meets or exceeds national standards in almost every category; LIVE - cost of living index 20% below the national average; and LEARN - school system ranked "exemplary" by the State of Tennessee. Lewisburg Labor Profile Unemployment Rate in Marshall County 3.4% (February 2018) # Employed in Marshall County 5.3% Increase Job Growth Rate in Marshall County 16.9% Increase Labor Force in Marshall County 15,920 (February 2018) Labor Force in 9-County Labor Shed 428,700 (January 2018) 08

9 TENANT PROFILE Walgreens is one of the largest drugstore chains. The poster-child of net lease properties, Walgreens has been a highly traded investment property given the low risks typically associated with these drugstore properties. Additionally, the drugstore sector remains stable given is non-discretionary merchandise offerings. On the real estate side of things, Walgreens demands premier hard corner locations greater than 1.00 acre. Generally, sites are acres to fit their store prototypes of 14,500 square feet, however units can range from 10,800-15,000 square feet. To compete with rival CVS, Walgreens has generally been willing to pay premier rental rates to secure prime sites with a primary lease term of 25 years. The most significant lease variation from Walgreens of late has been the difference in their renewal options, previously requiring eight to ten renewal options of five years in length; they recently signed a number of leases that were 75 years in length, however after the 25th year Walgreens has an annual cancellation option, essentially creating 50 1-year renewal options. This small variation created significant concern for investors because at the end of the initial 25-year lease term, these assets will not be financeable. Walgreens is owned by the Walgreens Boots Alliance, Inc. This parent company is currently the largest retail pharmacy in the US and Europe, with 13,200 stores in over 11 countries. Walgreens Boots Alliance was created through the combination of Walgreens and Alliance Boots in December This transaction brought together two leading companies with iconic brands, complementary geographic footprints, shared values and a heritage of trusted healthcare services through pharmaceutical wholesaling and community pharmacy care, dating back more than 100 years. Walgreens had been in merger talks with Rite Aid since In June of 2017, the pharmacies announced the merger was off however Walgreens will acquire over 2,100 Rite Aid locations. Walgreens is a market leader in the US and has 8,175 retail stores which includes Walgreens and Duane Reade. Walgreens owns 15% of these retail locations and the rest are leased. Walgreens Boots Alliance stated that they will close about 200 less-profitable US Walgreens stores and open the same number of stores in new locations. The last closing will be no later than the end of WALGREENS TICKER NYSE: WBA LOCATIONS 13,200 WORLDWIDE MARKET CP 66.97B CREDIT MOODY S BAA2 Representative Photo 09

10 CONTACT Stuart Frankel President, Net Leased Division Silber Investment Properties Office: (516) Ext. 204 Mobile: (631)