Single Tenant Net Leased Walgreens Property for sale

8/7/2019 Single Tenant Net Leased Walgreens Property for sale

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NET LEASED INVESTMENT OFFERI

Walgreens

3909 Mormon Coulee RoadLa Crosse, WI

CONFIDENTIAL OFFERING MEMORANDUM

www.bouldergroup.com


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NET LEASED INVESTMENT OFFERING


TABLE OF CONTE

TABLE OF CONTENTS

1)

2)

3)

4)

5)

6)

7)

8)

9)

Confidentiality & Disclaimer

Executive Summary

Property Overview

Maps

Aerial

Tenant Profile

Demographic Comparison Report

Location Overview

Contact Information


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CONFIDENTIALITY & DISCLAIM

CONFIDENTIALITY & DISCLAIMER

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to

reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or ent

without the written consent of The Boulder Group. This Marketing Brochure has been prepared to provide summa

unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject prope

The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has

made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subj

property, the future projected financial performance of the property, the size and square footage of the property a

improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State a

Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects

any tenant, or any tenants plans or intentions to continue its occupancy of the subject property. The information contained

this Marketing Brochure has been obtained from sources we believe to be reliable; however, The Boulder Group has n

verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigat

regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of t

information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.


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The Boulder Group is pleased to exclusively market for sale a Walgreens built in 2010 located in La Crosse, Wisconsin. T14,500 square foot Walgreens was recently constructed and is located at a signalized intersection. La Crosse is locatalong the western border of the midsection of Wisconsin and is considered one of the top places to live in the countaccording to a 2009 report by U.S. News. La Crosse is home to multiple top companies and the University of WisconsinCrosse, which has close to 1,000 students.

The property is located on Mormon Coulee Road (Highway 14 & 61), which is a major thoroughfare in La Crosse. MormCoulee Road runs parallel to the Mississippi River through a heavy commercial district abutting the majority of the Cit

residential neighborhoods. The property is located at the signalized intersection of Mormon Coulee Road and LosBoulevard. Major retailers in the area include a Wal-Mart Supercenter, Shopko, AutoZone, OReilly Auto Parts and AHardware.

Walgreens original lease term was for 25 years with and the lease expires in December 2035. Walgreenss annual renpayment is $384,068 and there are no landlord obligations in the lease. Walgreens is a publicly traded company on the NYork Stock Exchange (WAG), with a market capitalization of $37 Billion. Walgreens is an investment grade company witStandard & Poors rating of A+.

INVESTMENT HIGHLIGHTS



EXECUTIVE SUMMA

EXECUTIVE SUMMARY

Investment grade tenant24 years remain on the lease with ten 5-year renewal options

Property is newly constructedLocated on a hard corner at a signalized intersectionZero landlord responsibilities2009 - U.S. News ranked La Crosse 6th best place to live in the countryAdjacent major regional retail attractions including a Wal-Mart Supercenter


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PROPERTY OVERV

PROPERTY OVERVIEW

Price:

Cap Rate:

Net Operating Income:

Rental Escalations:

Renewal Options:Lease Commencement Date:

Lease Expiration Date:

Tenant:

Credit Rating:

Year Built

Lease Type:

Rentable Square Feet:

Land Acreage:

$5,647,000

6.8%

$384,068

None

Ten 5-Year

January 1, 2010

December 31, 2035

Walgreens

A+

2010

NNN

14,500

1.88


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AER

AERIAL


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MA

MAPS

SITE

SITE


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TENANT PROF

TENANT PROFILE

Website:Number of Locations:Stock Symbol:Standard & Poors Rating:Market Capitalization:

www.walgreens.com8,131WAG : NYSEA+$37 Billion

Walgreens is engaged in retail drugstore business. As of November 2010, the Company operated 8,131locations in all 50 states, the District of Columbia, Puerto Rico and Guam. That includes 7,650 drugstores, 503more than a year ago, including 291 stores acquired over the last 12 months. The company also operatesworksite health centers, home care facilities, and specialty and mail service pharmacies. Its Take Care HealthSystems subsidiary manages more than 700 in-store convenient care clinics and worksite health and wellnesscenters. The Companys drugstores are engaged in the retail sale of prescription and non-prescription drugsand general merchandise. General merchandise includes, among other things, household items, personalcare, convenience foods, beauty care, photofinishing, candy, and seasonal items. Walgreens offers customers

the choice to have prescriptions filled at the drugstore counter, as well as through the mail, by telephone, andthrough the Internet. In January 2010, the Company announced that it has completed the acquisition of theassets of 12 Eaton Apothecary pharmacies.


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DEMOGRAPHIC COMPARISON REP

DEMOGRAPHIC COMPARISON REPORT

Population

Total Population

Total Households

Income

Median Household Income

Average Household Income

1-mile

8,366

3,890

$42,143

$60,223

3-mile

36,124

15,759

$41,814

$62,376

5-mile

51,166

21,153

$41,354

$61,095


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LOCATION OVERV

LOCATION OVERVIEW

a Crosse is home to three regional colleges and universities. These include the public University of Wisconsin

rosse and Western Technical College, as well as the Roman Catholic Viterbo University. La Crosse Countys

argest employers, as ranked by the Wisconsin Department of Workforce Development and Office of Econo

dvisors, based on March 2007 statistics: Gundersen Lutheran Medical Center, Franciscan Skemp Medical Cen

rane, School District of La Crosse, La Crosse County government, University of WisconsinLa Crosse (The univer

as about 785 full-time employees and 568 part-time employees, for a total of 1,353 employees), Kwik T

enturyTel (now CenturyLink), Wal-Mart, and the City of La Crosse.

he La Crosse Municipal Airport provides direct scheduled passenger service to Minneapolis, Detroit and Chica

he city is served by several major highways and Interstate, including Interstate 90, U.S. Highway 14, U.S. Highway

.S. Highway 61, Wisconsin State Highway 35, Wisconsin State Highway 16, and Wisconsin State Highway 33. On

Mississippi River, cargo is transported to and from this area to St Paul and St Louis, using towboats, primarily mov

ry bulk cargo barges for coal, grain, and other low-value bulk goods.

a Crosse and the surrounding communities form a regional commercial center and shopping hub. In

ortheastern part of the city lies the region's largest shopping center, Valley View Mall. The surrounding area inclu

umerous big-box stores, and many restaurants. Other shopping centers in the La Crosse region include Three Riv

laza, Marsh View Center, Shelby Mall, Jackson Plaza, Bridgeview Plaza, and the Village Shopping Center. Downta Crosse has continued to grow in recent years, providing shopping, farmers' markets, hotels, restaurants, speci

hops, and events at La Crosse Center alongside the Mississippi River.

La Crosse is located on the western border of

midsection of Wisconsin, on a broad alluvial plain al

the east side of the Mississippi River. Several other ci

and towns are located in the La Crosse area, includ

Onalaska, Holmen, and West Salem, Wisconsin.

2009, U.S. News ranked La Crosse 6th best place toin the country.


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CONTACT INFORMAT

CONTACT INFORMATION

666 Dundee Road Suite 1801

Northbrook, IL 60062

|

Randy Blankstein

President

847.562.0003

[email protected]

Jimmy Goodman

Partner

847.562.8500

[email protected]

Single Tenant Net Leased Walgreens Property for sale

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