Walgreens. nnn Walgreens in north carolina market W. Sugar Creek Road, Charlotte, NC 28262

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1 Walgreens nnn Walgreens in north carolina market 2200 W. Sugar Creek Road, Charlotte, NC Joseph Caccamo [415] CA DRE#: Zeb Ripple [415] CA DRE#: Chris Kostanecki [415] CA DRE#: Chris Peters [415] CA DRE#: In Association with: Stuart Mullen, Commercial Real Estate Carolina - NC Licensed Broker Phone: (704) / stuart@crecarolina.com

2 PRICE.... $7,356,364 CAP RATE % RENTABLE SF... 14,820 SF LAND AREA Acres YEAR BUILT Investment Highlights CHARLOTTE, NORTH CAROLINA WALGREENS WITH APPROXIMATELY 21 YEARS LEFT ON 25-YEAR PRIMARY TERM WILL BENEFIT FROM MAJOR ROAD EXPANSION/CONNECTION INVESTMENT HIGHLIGHTS: > Inside the perimeter location within the I-485 loop which circles Charlotte and defines Charlotte proper >Located on hard corner intersection of Sugar Creek Rd and N. Graham Street which both immediately connect to I-85 > N. Graham Street is a straight shot directly into downtown Charlotte > N. Graham soon to be expanded directly around property to connect to Universal City Boulevard, significantly enhancing access and traffic around property (see aerial, and for more information, search/details.html#id=1955) > Established Rite-Aid across street was shuttered last year as part of road expansion project resulting in significant market share gains for the subject property >Site is surrounded by plethora of complementary dynamics including numerous rooftops, shopping centers and churches >Strong demographics: more than 87,000 people within 3 miles with average household incomes exceeding $71,000 > Outstanding ingress/egress and visibility > Quintessential daily needs location WALGREENS 2

3 Core Characteristics WALGREENS IS THE LARGEST DRUGSTORE CHAIN IN THE U.S. TENANT & LEASE HIGHLIGHTS: > Strong investment-grade credit rating (S&P BBB rating) > Walgreens (NYSE: WAG) is the largest drugstore chain in the United States with more than $71 billion in annual sales > Highest-sales drugstore in the United States > Lease commenced on 4/9/10 and runs through 4/30/85 (including options) > Walgreens has right to terminate every year after Year 25 > Absolute NNN - No landlord responsibilities WALGREENS 3

4 24 W W.T. Ha rris B o t re et uleva W IB M g Su N Try on S rd Dr e Cre ive ar oa kr BUILT 1998 d Vance High School U ity yc it ers THE COMMONS AT CHANCELLOR PARK niv Nathaniel Alexander Elementary ard lev u Bo LY AI 0D,40 17 Turning Point Academy (FORMER) Mine ral S 49 James Martin Middle School 24 EW.T. H arr is B oul pring s Roa eva rd d Newell Elementary ector I-85 Conn dr Old Con cor t N Tryon Stree NG rah am S tre et oad DO CH WN AR TOW LO TT N E 11, 000 DA ILY Univ Bouersity C leva ity rd WALGREENS 4

5 Income & Expense PRICE $7,356,364 Price Per Square Foot: $ Capitalization Rate: 5.50% Total Rentable Area (SF): 14,820 STABILIZED INCOME Per Square Foot Scheduled Rent $27.30 $404,600 Effective Gross Income $27.30 $404,600 LESS Per Square Foot Taxes NNN $0.00 Insurance NNN $0.00 Maintenance NNN $0.00 Total Operating Expenses $0.00 EQUALS NET OPERATING INCOME $404,600 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. WALGREENS 5

6 Rent Roll TENANT INFO LEASE TERMS RENT SUMMARY Tenant Name Sq. Ft. Term Current Rent Monthly Rent Yearly Rent Monthly Rent/ FT Yearly Rent/ FT Walgreens 14,820 4/19/10 4/30/85* $404,600 $33,717 $404,600 $2.28 $27.30 Totals: 14,820 $404,600 $33,717 $404,600 $2.28 $27.30 *Tenant has right to terminate the lease every year after the 25th year This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. WALGREENS 6

7 Walgreens ABOUT WALGREENS Walgreens (NYSE: WAG) is the largest drugstore chain in the United States and has the highest sales in the nation. It operates more than 7,000 drugstores in all 50 US states, the District of Columbia, Guam, and Puerto Rico. Founded in 1901, Walgreens provides the most convenient access to consumer goods and services, and pharmacy, health and wellness services, in America. The company has recorded 35 consecutive years of record sales, 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. Prescription drugs account for about two-thirds of sales; the rest comes from general merchandise, over-the-counter medications, cosmetics, and groceries. Walgreen usually builds rather than buys stores, so it can pick prime locations. Most stores offer drive-through pharmacies, and almost all offer one-hour photo processing. In 2010, Walgreens paid about $1 billion to acquire New York-based drugstore chain Duane Reade REVENUE Billion NUMBER OF LOCATIONS 7,700+ NUMBER OF EMPLOYEES 247,000 Walgreens Health Services offers pharmacy patients and prescription drug and medical plans through Walgreens Mail Service Inc., Walgreens Home Care Inc., Walgreens Specialty Pharmacy LLC and SeniorMed LLC (a pharmacy provider to long-term care facilities). Walgreens ranked #32 in the Fortune 500 in May WALGREENS 7

8 Surrounding Retail WALGREENS 8

9 Regional Map COMBINED TRAFFIC COUNTS ON W. SUGAR CREEK ROAD EXCEED 29,200 WALGREENS WALGREENS 9

10 Charlotte, NC Charlotte is the largest city in the state of North Carolina and the seat of Mecklenburg County. The Charlotte, North Carolina region is composed of 16 counties, including four counties in South Carolina, with the city of Charlotte serving as the hub. Located in the heart of the Southeast, Charlotte lies within the southern Piedmont of North Carolina, along the state s border with South Carolina. Charlotte is the largest and most accessible city between Washington, D.C., and Dallas, Texas. Due to its mid-atlantic location, getting to Charlotte is easy from anywhere in the country or the world, hence its nickname the International Gateway to the South. Charlotte s highly efficient and growing interstate highway system offers drivers convenient access to the city. I-77 and I-85 connect Charlotte to cities in the Northeast, Southwest and Midwest. Convenient I-40, less than one hour north, provides an important east-west link with coast-to-coast access Charlotte is also a major U.S. financial center, the second largest financial center following New York City.[8] Bank of America and the East Coast operations of Wells Fargo are headquartered in the city.there are 11 Fortune 500 company headquarters located Charlotte. A few of these companies include Wells Fargo, Bank of America, Lowes s, Duke Energy and Family Dollar Demographics Population 1 Mile 3 Miles 5 Miles 2010 Population 14,887 87, , Population 15,104 90, , Population (Projection) 15,841 97, , Income 2013 Average Household Income $77,073 $71,117 $65, Median Household Income $51,411 $38,416 $37,763 Top Employers in Charlotte Employer # of Employees (Approx.) Carolinas Health Care System 32,999 Wells Fargo Company 20,000 Bank of America 19,800 Walmart & Sam s Club 10,000 City of Charlotte 5,000 Copyright 2013 [Capital Pacific Real Estate Brokerage Company] WALGREENS 10

11 A unique HUMAN RESULTS-DRIVEN client experience [ ] THE CAPITAL PACIFIC EXPERIENCE - OUR DAILY COMMITMENT TO OUR CLIENTS Copyright 2013 [Capital Pacific Real Estate Brokerage Company] JOE CACCAMO jcaccamo@capitalpacific.com (415) CA DRE #: ZEB RIPPLE zripple@capitalpacific.com (415) CA DRE#: CHRIS KOSTANECKI ck@capitalpacific.com (415) CA DRE#: CHRIS PETERS cpeters@capitalpacific.com (415) CA DRE#: Copyright 2013 [Capital Pacific Real Estate Brokerage Company]