Net Lease Walgreens uniondale, ny

NET LEASED INVESTMENT OFFERING

www.bouldergroup.com

Walgreens603 Uniondale Avenue

Uniondale, NY 11553 (Long Island)



1) Confidentiality&Disclaimer

2) ExecutiveSummary

3) InvestmentHighlights

4) PropertyOverview

5) Aerial

6) SitePlan

7) Maps

8) TenantProfile

9) DemographicComparisonReport

10) LocationOverview

11) ContactInformation

TABLE OF CONTENTS

TABLE OF CONTENTS



TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.

CONFIDENTIALITY & DISCLAIMER

CONFIDENTITALITY & DISCLAIMER



TheBoulderGroup is pleased toexclusivelymarket for salea recently constructed single tenantnet leasedWalgreenspropertylocatedinLongIsland.The12,827squarefootWalgreenswasbuiltin2012andislocatedinadenseareaofLongIslandwithhighbarrierstoentry.ThedevelopmentofthisWalgreensrequiredadifficultassemblageoffiveseparatelyownedlandparcelsthatbeganin2009,threeyearspriortothestoreopening.ThisnewlydevelopedWalgreensfeaturesalongtermleasewitha25yearprimaryterm,fiveyearslongerthanmostnewconstructionWalgreens.ThispropertywasadevelopmentpriorityforWalgreensandevenduringtheeconomic downturn; this property represented one of threehigh priority sites throughout all of Long Island.Walgreensacquiredthelocalpharmacy,intheimmediatevicinityoftheproperty,therebysolidifyingacustomerbaseandlongstandingsaleshistory.

ThepropertyislocatedinadenseinfillareaofLongIslandonthesoutheastcornerofUniondaleAvenueandJerusalemAvenue.UniondaleisahighlypopulatedLongIslandsuburbwithhigherpopulationandhouseholddensities than Nassau County and neighboring Hempstead. The signalized intersection of Uniondale andJerusalemexperiences trafficvolumes inexcessof38,000vehiclesperday.UniondaleAvenuesexperienceshighpeakvolumesandistheonlynorth-souththoroughfarethatrunsthroughthecommunity.InarecentsurveyconductedbyUniondale,77%ofresidentsnotedthattheyspenttimeintheJerusalem&UniondaleCorridoratleastonceperweek.TherearethreeNassauInter-CountyExpress(NICE)busstopsinimmediatevicinitytotheUniondaleandJerusalemintersection,whichisimportantasUniondaledoesnotreceivedirectrailserviceandNICEistheprimaryformofpublictransportation.

Wal-Mart,ShopRiteandtheA.HollyPattersonExtendedCarefacilityarelocatedwithinonemileoftheproperty.A.HollyPattersonExtendedCareisa589bedskillednursingfacilitywitha95.9%occupancyrateasofAugust2013.Additionally,NassauCommunityCollege,HofstraUniversity,KellenbergMemorialHighSchooland theUniondaleHighSchoolare locatedwithincloseproximityoftheproperty,andhaveenrollmentsofapproximately23,500,8,300, 2,600 and 1,800 students respectively. Residentslivingwithinfivemilesofthepropertyenjoyhouseholdincomelevelsinexcessof$105,000annually.

TheoriginalleasecommencedinOctober2012withaprimarytermof25yearswithten5-yearrenewaloptions.WalgreensisapubliclytradedcompanyontheNewYorkStockExchange(WAG),withamarketcapitalizationof$45billion.Walgreensis an investment grade companywith a Standard& Poor’sratingofBBB.

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY



INVESTMENT HIGHLIGHTS

•LocatedwithintheNewYorkMSA(LongIsland)

•Difficultassemblageoffiveseparatelyownedlandparcels

•Walgreensacquiredthelocalpharmacy,intheimmediatevicinityoftheproperty,therebysolidifyingacustomerbaseandlongstandingsaleshistory

•DenseLongIslandsuburbwithhighbarrierstoentry

•Investmentgradetenant(S&P:BBB)

•Recentconstruction(2012)

•Longtermleasewith24yearsremaining

•Positionedonthehardcornerofasignalizedintersection

•IntersectionofJerusalemandUniondaleexperiencestrafficvolumesinexcessof38,000VPD

•Zerolandlordresponsibilities

•Householdincomeinexcessof$105,000annuallywithinfivemilesoftheproperty

•LocatedincloseproximitytoaWal-Mart,ShopRiteandA.HollyPattersonExtendedCare(589beds)

•Ten5-Yearrenewaloptions





PROPERTY OVERVIEW

PROPERTY OVERVIEW

Price: $12,562,612

CapRate: 5.55%

NetOperatingIncome: $697,225

LeaseCommencementDate: October22,2012

LeaseExpirationDate: October31,2037

RenewalOptions: Ten5-Year

Tenant: Walgreens

CreditRating: BBB(Standard&Poor’s)

YearBuilt: 2012

LandlordObligations: None

RentableSquareFeet: 12,827

LandSize: 52,085SF



AERIAL

AERIAL

N

18,800 VPD

JERUSALEM AVENUE

19,400 VPD

UNION

DALE AVENUE

A. HOLLY PATTERSON EXTENDED CARE FACILITY (589 BEDS)

MEADOWBROOKGARDENS

SUPER SHINECAR WASH



SITE PLAN

SITE PLAN

JERUSALEM AVENUE

JAFFA AVENUE

UNION

DALE AVENUE

DRIVETHRU

LOADIN

G

N



MAPS

MAPS



Walgreensisengagedinretaildrugstorebusiness.AsofMay31,2013,thecompanyoperated8,560locationsinall50states,theDistrictofColumbia,PuertoRicoandGuam.Thecompanyalsooperatesworksitehealthcenters, home care facilities, and specialty and mail service pharmacies. Its Take Care Health Systemssubsidiarymanagesmorethan715in-storeconvenientcareclinicsandworksitehealthandwellnesscenters.TheCompany’sdrugstoresareengagedintheretailsaleofprescriptionandnon-prescriptiondrugsandgeneralmerchandise.Generalmerchandiseincludes,amongotherthings,householditems,personalcare,conveniencefoods,beautycare,photofinishing,candy,andseasonalitems.Walgreensofferscustomersthechoicetohaveprescriptionsfilledatthedrugstorecounter,aswellasthroughthemail,bytelephone,andthroughtheInternet.InSeptember2013,WalgreensannouncedthatitsacquisitionofKerrDrugandits76locations.

Website: www.walgreens.comNumberofLocations: 8,560StockSymbol: WAG:NYSEStandard&Poor’sRating: BBBMarketCapitalization: $50billion

TENANT PROFILE

TENANT PROFILE



Population 1-mi 3-mi 5-mi

TotalPopulation 33,845 218,729 563,645TotalHouseholds 8,413 64,443 180,411

Income

MedianHouseholdIncome $73,324 $78,199 $85,117AverageHouseholdIncome $87,322 $99,386 $105,883

DEMOGRAPHIC COMPARISON REPORT

DEMOGRAPHIC COMPARISON REPORT



Uniondale isanunincorporatedarealocatedinthecentralportionoftheTownofHempsteadinsouthwesternNassauCounty.UniondaleislocatedadjacenttotheSouthernStateParkway,whichprovidesquickaccesstotherestofLongIslandandNewYorkCity.UniondaleAvenueisthepredominatethroughcorridorformotorvehicles. It istheonlynorth-southroadthatruns

throughthecommunity,makingitthemostdirectroutebetweentheSouthernStateParkwayandHempsteadTurnpike. Front Street and JerusalemAvenue are the primary east-west roadways through the community.JerusalemAvenueisa57-footwide,fourlanecountyroad.

Basedonthe2010UnitedStatesCensus,Uniondalehadapopulationof24,759withanaveragehouseholdsizeof3.96peopleandanaveragefamilysizeof4.13people.ThepopulationdensityofUniondalewas9,136people per squaremile,making it twice as dense asNassau County as awhole. Uniondale’s land use isprimarily single-family residentialwith scattered commercial strips,makingnewdevelopment very difficult.Mostbusinessesaresmallandindependentretailers.

Nassau CountyisasuburbancountyonLongIsland,immediatelyeastofNewYorkCity.Asofthe2010 census, the populationwas1,339,532. In 2012, Forbesmagazine reported thatNassauCountywasthe12thrichestcountyinAmericaandthewealthiestintheStateofNewYork.Nassau,togetherwithSuffolkCountytoitsimmediateeast,aregenerallyreferredtoas“LongIsland”byarearesidents—asdistinctfromtheNewYorkCityboroughsofQueens(QueensCounty)andBrooklyn(KingsCounty),whicharegeographicallylocatedontheisland’swesternmostend.Twocities,three

towns,64incorporatedvillages,andmorethan60unincorporatedhamletsarelocatedwithinthecounty.

http://www.nassaucountyny.gov

New York City isthemostpopulouscityintheUnitedStatesofAmericaandoneofthemostpopulousmetropolitansintheworld.NewYorkisthemostdenselypopulatedmajorcityintheUnitedStates.TheNewYorkCityMetropolitanStatisticalAreahasapopulationinexcessof22.2millionpeople.Additionally,thereisapproximatelyanadditional50millionpeoplethatannuallyvisitNewYork.NewYorkCityhasbeenrankedfirstacrosstheglobeinattractingcapital,business,andtourists.

New York exerts a significant impact upon commerce, finance, media, art, fashion, research, technology,education,andentertainment.Itisaglobalhubofinternationalbusinessandcommerce.NewYorkhasbeenwidelycalledtheleadingfinancialcenterintheworld.ItishometotheNewYorkStockExchange,theworld’slargeststockexchangebytotalmarketcapitalization.ManymajorcorporationsareheadquarteredinNewYorkCity,including45Fortune500companies.

NewYorkCityisthetopinternationalairpassengergatewaytotheUnitedStates.Theareaisservedbythreemajorairports,JohnF.KennedyInternational,NewarkLibertyInternationalandLaGuardia.

www.nyc.gov

LOCATION OVERVIEW

LOCATION OVERVIEW



666DundeeRoad,Suite1801Northbrook,IL60062

Randy [email protected]

Jimmy [email protected]

CONTACT INFORMATION

CONTACT INFORMATION

Net Lease Walgreens uniondale, ny

Real Estate

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