Net Leased CVS

www.bouldergroup.com

NET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERING

CVS PharmacyCVS PharmacyCVS PharmacyCVS Pharmacy 1201 East Colonial Drive1201 East Colonial Drive1201 East Colonial Drive1201 East Colonial Drive

Orlando, FL 32803Orlando, FL 32803Orlando, FL 32803Orlando, FL 32803

NET LEASED INVESTMENT OFFERING


1)

2)

3)

4)

5)

6)

7)

8)

9)

10)

Confidentiality & Disclaimer

Executive Summary

Property Overview

Aerial

Site Plan

Map

Tenant Profile

Demographic Comparison Report

Location Overview

Contact Information

TABLE OF CONTENTS

TABLE OF CONTENTSTABLE OF CONTENTSTABLE OF CONTENTSTABLE OF CONTENTS



The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

CONFIDENTIALITY & DISCLAIMER

CONCONCONCONFIDENTIALITY & DISCLAIMERFIDENTIALITY & DISCLAIMERFIDENTIALITY & DISCLAIMERFIDENTIALITY & DISCLAIMER



The Boulder Group is pleased to exclusively market for sale a single tenant net leased CVS property located in Orlando, Florida. The 10,767 square foot CVS property was built in 1996 and features a drive-thru. There are rental escalations in each of the four renewal options. This is a proven location for CVS as evidenced by the strong sales history and low rent to sales ratio. Store sales in 2012 at this location have increased over 10% in comparison to 2011.

The subject property is positioned at the signalized intersection of East Colonial Drive and North Mills Avenue. The intersection of East Colonial and North Mills experiences traffic counts in excess of 73,500 vehicles per day, and East Colonial drive has direct access to an interchange with Interstate 4 one and one-half miles from the property. The property is located in close proximity to downtown Orlando in a dense area with over 260,000 people living within five miles. CVS is benefited by its location within the primary retail trade area anchored by three retail power centers; Orlando Fashion Square (regional mall), Colonial Plaza and Colonial Marketplace. Orlando Fashion Square is anchored by JCPenney, Macy’s, Dillard’s and Sears. Adjacent to Orlando Fashion Square is Colonial Marketplace anchored by Target, Office Max and LA Fitness and Colonial Plaza featuring Marshalls, Staples, Old Navy, Hobby Lobby, PETCO, Pier 1 Imports and Ross Dress for Less. Other major retailers in the area include Publix grocery store, Bed Bath and Beyond, and Sports Authority.

The original CVS lease term was for 20 years with four 5-year renewal options and the lease expires in December 2016. CVS is a publicly traded company on the New York Stock Exchange (CVS), with a market capitalization of $58 billion. CVS is an investment grade rated company with a Standard & Poor’s rating of BBB+.

• Located within a primary retail trade area of Orlando

• Strong store sales with a low rent to sales ratio

• Sales increased 10% in 2012 from 2011

• Investment grade company with an S&P Rating of BBB+

• Drive-thru location

• Over 260,000 people living within five miles of the property

• Rental escalations in the renewal option periods

• Located at a signalized intersection with traffic volumes in excess of 73,500 vehicles per day

• Nearby retailers include Target, JCPenney, Macy’s, Marshalls, Old Navy, LA Fitness and Bed Bath and Beyond

INVESTMENT HIGHLIGHTS

EXECUTIVE SUMMARY

EXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARY



Price: $2,757,687

Cap Rate: 8.00%

Rent Schedule: NOI Escalation Date

$220,615

$225,912 12/6/2016 (Option 1)

$231,209 12/6/2021 (Option 2)

$236,506 12/6/2026 (Option 3)

$241,803 12/6/2031 (Option 4)

Renewal Options: Four 5-Year

Lease Commencement Date: December 6, 1996

Lease Expiration Date: December 5, 2016

Tenant: CVS

Credit Rating: BBB+

Year Built 1996

Lease Type: NN (Roof and Structure)

Rentable Square Feet: 10,767 SF

Land Size: 37,461 SF

PROPERTY OVERVIEW

PROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEW



AERIALAERIALAERIALAERIAL

AERIAL



SITE PLANSITE PLANSITE PLANSITE PLAN

SITE PLAN



MAP

MAPMAPMAPMAP



Website: www.cvs.com

Number of Locations: 7,381

Stock Symbol: CVS : NYSE

Standard & Poor’s Rating: BBB+

Market Capitalization: $58 billion

Employees: 80,000

CVS is engaged in the retail drugstore business. As of September 2011, the Company operated 7,381 locations in 41 states and Puerto Rico. CVS is the nation's second-largest drugstore chain and the third-largest pharmacy benefits manager. As a retail division of CVS Caremark, CVS retail locations sell prescription drugs and a wide variety of general merchandise including over-the-counter medication, beauty products and cosmetics, film and photo finishing services, seasonal merchandise and convenience foods. CVS also offers healthcare services through their MinuteClinic locations, most of which are located within their stores. CVS is headquartered in Woonsocket, Rhode Island and was founded in 1963.

TENANT PROFILE

TENANT PROFILETENANT PROFILETENANT PROFILETENANT PROFILE



PopulationPopulationPopulationPopulation 1111----mi.mi.mi.mi. 3333----mimimimi 5555----mimimimi

Total Population 13,165 93,460 265,132 Total Households 7,538 42,381 108,712

IncomeIncomeIncomeIncome

Median Household Income $48,201 $46,911 $44,197 Average Household Income $64,898 $63,023 $58,385

DEMOGRAPHIC COMPARISON REPORT

DEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORT



LOCATION OVERVIEW

LOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEW

OrlandoOrlandoOrlandoOrlando is the fifth largest city and the largest inland city in the state of Florida. At the time of the 2010 U.S. Census, Orlando had a population of 238,300 and the Orlando Metropolitan Area had a population of 2,134,411, making Orlando the 26th largest metropolitan area in the United States and the third largest in Florida.

Orlando experiences a large and diversified economy. The city is a major industrial hi-tech center, experiences 51 million tourist a year to their multiple theme parks and is home to University of Central Florida, which is the largest university in the United States in terms of enrollment (60,000 students). Orlando’s economy benefits from a large concentration of technology, aviation, aerospace and software design. More than 150 international companies have facilities in Orlando and they employ over 50,000 people.

Orlando is also home to the simulation procurement commands for the U.S. Army, Navy, Air Force, Marines and Coast Guard. Orlando’s economy also benefits from Walt Disney World Resort, Universal Orlando Resort and SeaWorld Orlando. These theme parks attract tourist from all over the world making Orlando one of the most visited cities in America.

www.cityoforlando.net



666 Dundee Road Suite 1801 Northbrook, IL 60062

Randy Blankstein President 847.562.0003 [email protected]

Jimmy Goodman Partner 847.562.8500 [email protected]

CONTACT INFORMATION

CONTACT INFORMATIONCONTACT INFORMATIONCONTACT INFORMATIONCONTACT INFORMATION

Net Leased CVS

Real Estate

Transcript of Net Leased CVS