RITE AID PHARMACY HAMPTON, VIRGINIA SINGLE TENANT NET LEASE OFFERING ONE OF RITE AID S TOP PERFORMING STORES REPRESENTATIVE PHOTO ACTUAL PROTOTYPE Fresenius Medical Center In Melbourne, FL Prime Location w/ +/-14 Yrs. Remaining on Primary Term (1.7% Annual Rent Increases!!) Fresenius Medical Care is the Largest Dialysis Provider in the World (S&P Rated BBB-) 10,392 SF Clinic - Corporate Guaranteed by Fresenius Medical Care Holdings Approx. 1.5 acre site located just off of Interstate 95 on Palm Bay Road. Population growth of 22% since 2000. NN Investment with Minimal Responsibilities (Roof, Structure & HVAC) Actual Property OFFERED BY: JOHN LEE 646-837-6509 or 917-774-8812 john.lee@lemrx.com ROBERT BOLLINGER 239-776-2080 robertbollingerllc@gmail.com LEMRX REALTY ADVISORS Actual Property
LOCATION: 1355 Palm Bay Road NE, Melbourne, FL 32905 10 Willow Oaks Blvd., Hampton, Virginia 23669
INVESTMENT SUMMARY Actual Property OFFERING TERMS PRICE $11,334,617 CAP 6.00% NOI YRS 1-10 $680,077.00 NOI YRS 11-20 $748,084.70 ONE OF THE TOP GROSSING RITE AIDS - 10% RENT INCREASES EVERY 10 YEARS LEASE TERM: 20 years ADDRESS: 10 Willow Oaks Blvd., Hampton, Virginia 23669 LEASE TYPE: Absolute NNN No Landlord responsibilities BLDG SIZE: 14,667 square feet LOT SIZE: 2.487 acres OPTIONS: Six (6) five (5) year options with 10% increases every 10 years YEAR BUILT: 2014 GUARANTOR: Rite Aid Pharmacy, Inc.
INVESTMENT HIGHLIGHTS INVESTMENT GRADE TENANT: Rated B by Standard and Poors 2014 CONSTRUCTION: Abolute NNN Lease 10% rent increases every 10 years Huge 2.48 acre lot Lease is corporately guaranteed by Rite Aid, Inc. / S&P B Rated +/- 17 years remain on current term STRATEGIC LOCATION: Relocation of highly successful store in historic Hampton, Virginia Close proximity to Major Hospitals Highly visible signalized, hard corner location Hampton is home to Langley Air Force Base, NASA Langley Research, and the Virginia Air and Space Center Attractive 5 mile demographics with over 107,000 residents and an average household income of $63,000 ABOUT HAMPTON, VIRGINIA: Hampton is an independent city in Virginia. As of the 2010 census, the population stood at 137,436. As one of the seven major cities that compose the Hampton Roads metropolitan area, it is on the southeastern end of the Virginia Peninsula. Hampton traces its history to 1607. The city's Old Point Comfort, home of Fort Monroe for almost 400 years, was named by the voyagers of 1607 led by Captain Christopher Newport on the mission which first established Jamestown as a British colony. Since consolidation in 1952, Hampton has included the former Elizabeth City County and the incorporated town of Phoebus, consolidating by mutual agreement. After the end of the American Civil War, historic Hampton University was established opposite from the town on the Hamp-ton River, providing an education for many newly freed former slaves and Native Americans. In the 20th century, the area became the location of Langley Air Force Base, NASA Langley Research Center, and the Virginia Air and Space Cen-ter. Hampton features many miles of waterfront and beaches. For residents and visitors alike, the city features a wide array of business and industrial enterprises, retail and residential areas, and historical sites. Most recently, the new Peninsula Town Center development opened in May 2010 on the site of the former Coliseum Mall. Located in the area adjacent to the Hampton Coliseum and the Convention Center, the new urbanism-type project features a wide mix of retail stores, housing and other attractions. Actual Clinic NNN LEASE 20 YRS WITH 6 5 YEAR OPTIONS Actual AT 10% Property INCREASES / 10YRS ANNUAL RENT NCREASES 10% EVERY 10 YEARS LARGE POPULATION 107K 5 MILE RADIUS HOUSEHOLD INCOME 67K 1 MILE RADIUS
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TENANT PROFILE 3 rd Largest Pharmacy Chain TENANT: RITE AID PHARMACY LEASE GUARANTOR: RITE AID PHARMCY, INC. 2,550+ Locations S&P CREDIT RATING: B- # OF LOCATIONS: 2,550+ Ticker: RAD Rite Aid is one of the nation s leading drugstore chains with over 4,600 stores in 31 states and the District of Columbia as of April 2013. Rite Aid sells prescription drugs and a wide assortment of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, beverages, convenience foods, greeting cards, and photo processing. Rite Aid posted 2013 fiscal year revenues of approximately $25 billion. It is a Fortune 500 company and is publicly traded on the New York Stock Exchange under the ticker RAD. Rite Aid Corporation is one of the leading drugstore chains in the United States and a Fortune 500 company. The Company operates its drugstores in 31 states across the country and in the District of Columbia. Rite Aid is publicly traded on the New York Stock Exchange under the ticker RAD. Rite Aid stores service prescription drug customers and offer an assortment of other general merchandise, which it calls front-end products. Front end products include over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, beverages, convenience foods, greeting cards, seasonal merchandise, and other everyday and convenience products, as well as photo processing. It offers approximately 3,300 products under the Rite Aid private brand. Many locations also feature one-hour photo shops and include a GNC store-within-rite Aid-store. In June 2015, the Company acquired pharmacy benefit manager EnvisionRx. In October 2015, Walgreens Boots Alliance announced an agreement to acquire all outstanding shares of Rite Aid for $9.00 per share in cash, for a total enterprise value of about $17.20 billion, including acquired net debt. The transaction is expected to close in mid 2017. Upon completion of the merger, Rite Aid will be a wholly owned subsidiary of Walgreens Boots Alliance, and is expected to initially operate under its existing brand name. Decisions will be made over time regarding the integration of the two companies.
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DEMOGRAPHICS LARGE POPULATION 107K 5 MILE RADIUS POPULATION 1 MILE: 22,064 3MILE: 132,075 5 MILE: 286,662 Melbourne FL is a city in Brevard County, southeast of Orlando on Florida s east coast. Melbourne AVERAGE is the economic HH INCOME engine of Brevard County and is a hub for high-tech and aerospace industriesl. It is located midway between 1 MILE: Jacksonville $58,601 and Miami. As this city lies along the Indian River Lagoon, it is loved by those who enjoy its quiet beauty. On the other side of the river a portion of the city lies on a barrier island with many beach park. Melbourne has an international airport and is 3MILE: $58,595 located on a major interstate with easy access to Orlando and its attractions, Kennedy Space Center and beyond. 5 MILE: $57,812
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ACTUAL PROPERTY RITE AID PHARMACY HAMPTON, VIRGINIA ACTUAL PROPERTY Actual Property OFFERED BY: JOHN LEE 646-837-6509 or 917-774-8812 john.lee@lemrx.com ROBERT BOLLINGER 239-776-2080 robertbollingerllc@gmail.com LEMRX REALTY ADVISORS