Download - Single Tenant, Net Leased...Walgreens - Anoka, MN Net-Leased Single Tenant, Net Leased PROPERTY HIGHLIGHTS • Excellent Walgreens with Very High Store Sales • Purchase Cap Rate:

Walgreens with Redevelopment Potential

Walgreens - Anoka, MN Net-LeasedSingle Tenant, Net Leased

PROPERTY HIGHLIGHTS

• Excellent Walgreens with Very High Store Sales

• Purchase Cap Rate: 6.04%

• Property in a Qualified Opportunity Zone (QOZ)

• Assumable Mortgage

• Direct Purchase-1031 Investment

• DST Structure Available

PROPERTY DESCRIPTION

Free-standing Walgreens located at the intersection of Highway 169 (FerryStreet) and Main Street in downtown Anoka, MN; known as one of thebusiest intersections in Anoka County. The building is a +/-13,450 SF retailproperty and was constructed in 1994. The Walgreens net lease has anoriginal term through December 31, 2064. Walgreens has a continuous leasetermination option every five (5) years with the next option available on 12/31/2024. The below-market rent is at $15.04 PSF. The property is located ina Qualified Opportunity Zone (QOZ) and may eventually be redeveloped intoa mixed-use concept.

Garrett FarmerC: 612 201 [email protected]

Michael Houge, CCIM, SIORC: 612 701 [email protected]

OFFERING SUMMARY

Sale Price $3,350,000

Lot Size 1.72 Acres

Building Size 13,450 SF

DEMOGRAPHICS

Stats Population Avg. HHIncome

1 Mile 8,693 $60,098

3 Miles 61,832 $74,367

5 Miles 127,510 $80,012

275 Market StreetMinneapolis, MN 55405612 383 2590 telwww.nailegacy.com/

275 Market Street, Suite #561Minneapolis, MN 55405

612 383 2590 telnailegacy.com

Property Summary

Walgreens - Anoka, MN Net-Leased1911 S Ferry St

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Walgreens - Anoka, MN Net-Leased








LOCATION INFORMATION

Building Name Walgreens - Anoka, MNNet-Leased

Street Address 1911 S Ferry St

City, State, Zip Anoka, MN 55303

County Anoka

Market NW Metro Retail

Sub-market Anoka County

Cross-Streets Ferry Street (US Hwy 169) &Main Street

Township ANOKA CITY OF

Side of the Street West

Signal Intersection Yes

Road Type Highway Interchange

Market Type Large

Nearest Highway US Hwy 10

Nearest Airport MSP

BUILDING INFORMATION

NOI $202,270.00

Cap Rate 6.04

Occupancy % 100.0%

Tenancy Single

Number of Floors 1

Average Floor Size 13,450 SF

Year Built 1994

Year Last Renovated 2019

Gross Leasable Area 13,450 SF

Construction Status Existing

Condition Excellent

Free Standing Yes

Number of Buildings 1

PROPERTY HIGHLIGHTS

• Excellent Walgreens with Very High Store Sales

• Purchase Cap Rate: 6.04%

• Property in a Qualified Opportunity Zone (QOZ)

• Assumable Mortgage

• Direct Purchase-1031 Investment

• DST Structure Available









POPULATION 1 MILE 3 MILES 5 MILES

Total Population 8,693 61,832 127,510

Median age 38.8 36.3 36.4

Median age (Male) 39.0 36.0 35.6

Median age (Female) 40.9 37.8 37.5

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

Total households 3,543 23,280 46,540

# of persons per HH 2.5 2.7 2.7

Average HH income $60,098 $74,367 $80,012

Average house value $238,331 $234,825 $240,328

* Demographic data derived from 2010 US Census







Old and Newcomers

Dominant Tapestry Segment

39.6Median

Age

9,869Total Population

$220,107Median Home Value

529Businesses

13,560Daytime Population

$50,044Median Household

Income

$29,733Per Capita Income

$3,000

$2,000

$1,000

$0

FurnitureEntertainmentApparelTransportationTravel

$2,489.61

$1,688.96 $1,656.11

$662.84 $481.08

Walgreens

KEY FACTS

KEY SPENDING FACTS

2.2Avg Household

Size

0.6%2010-18 Pop Growth Rate

© Esri 2018Spending facts are average annual dollars per household

Soccer Moms


38.3Median

Age



1,981Businesses



Income


$4,000

$3,000

$2,000

$1,000

$0


$3,504.74

$2,458.27 $2,294.72

$958.17$678.31

Walgreens

KEY FACTS

KEY SPENDING FACTS

2.6Avg Household

Size



Home Improvement


37.9Median

Age



3,235Businesses



Income


$4,000

$3,000

$2,000

$1,000

$0


$3,746.67

$2,646.99 $2,450.37

$1,031.19 $725.87

Walgreens

KEY FACTS

KEY SPENDING FACTS

2.7Avg Household

Size





ABOUT WALGREENS

Walgreens is one of the largest drugstore chains in the United States. Walgreens is owned by Walgreens Boots

Alliance, a healthcare powerhouse created in 2014 from the merger of Walgreens and Alliance Boots. Walgreens

Boots Alliance is currently the largest retail pharmacy in the US and Europe with 13,200 Stores in over 11 countries.

Walgreens are typically located on the corner of signalized intersections in over 9,600 locations around the country.

The company is publicly traded on the NASDAQ (WBA) with a market capitalization in excess of $48 billion. Both

Walgreens and Walgreens Boots Alliance are investment-grade rated each with a Standard & Poor’s rating of BBB.









LEASE SUMMARY

Tenant: Walgreens

Lease Documents: Original Lease entered intoDec. 10, 1994, andsubsequently amended withtwo (2) amendments.

Leased Area: 13,450 SF

Lease Term: Seventy (70) Years

Commencement Date: 12/10/1994

Expiration Date: 12/31/2064

Remaining Lease Term: Forty-Five (45) Years

Monthly Base Rent: $16,855.75

Annual Base Rent: $202,269 ($15.05 PSF)

Base Rent Increases: None

Lease Type: Net, Net

Landlord Responsibilities: Roof, Structure and ParkingLot (Replacement Only)

Termination Rights: Tenant has termination rightsevery five (5) years, whichstarted in 2014. Tenant haswaived these rights in 2014and 2019. Tenant must alsoprovide a 180 day notice.

Early Termination Dates: 12/31/2024,12/31/2029,12/31/ 2034,12/31/2039 12/31/2044,12/31/2049 12/31/2054 &12/31/2059

Guarantor: Walgreens Boots Alliance, Inc.

TENANT OVERVIEW

Tenant: Walgreens Boots Alliance, Inc.

Ownership: Public (WBA-Nasdaq)

Sales Volume: $137.41 Billion

Market Cap: $48.2 Billion (Jan. 2020)

Number of Locations: +18,500









INVESTMENT OVERVIEW WALGREEN'S ANOKA

Price $3,350,000

Price per SF $249.07

CAP Rate 6.0%

Cash-on-Cash Return (yr 1) 4.95 %

Total Return (yr 1) $105,856

Debt Coverage Ratio 1.38

OPERATING DATA WALGREEN'S ANOKA

Gross Scheduled Income $202,270

Other Income $0

Total Scheduled Income -

Vacancy Cost $0

Gross Income $0

Operating Expenses $2,017

Net Operating Income $202,270

Pre-Tax Cash Flow $55,741

FINANCING DATA WALGREEN'S ANOKA

Down Payment $1,126,000

Loan Amount $2,224,000

Debt Service $146,529

Debt Service Monthly $12,210

Principal Reduction (yr 1) $50,115









MN #40247953

GARRETT FARMER

Senior Director

[email protected]: 612.383.2590 | Cell: 612.201.6282

PROFESSIONAL BACKGROUND

Mr. Farmer is a Director at NAI Legacy overseeing investments acquisitions and client brokerage relationships throughout the Midwest.Mr. Famer has completed over $900 million of commercial and residential real estate transactions which include the acquisition anddisposition of industrial, office and retail properties; residential and multi-unit housing properties and ground-up development of hotel,multi-unit housing, and select build-to-suit single tenant properties. Mr. Farmer's background includes structured real estate investmentvehicles as single-property private placements, private equity funds, tax deferred exchanges, and tax deferred equity syndications.

Prior to NAI Legacy, Mr. Farmer served in various property acquisitions and dispositions roles with public and private real estateinvestment companies. Mr. Farmer served as the Senior Acquisitions Manger at The Ackerberg Group, a Minneapolis based private realestate investment and development company and was involved in the creation of a $50 million private equity fund regulated by SEC506(b) and subsequently completed the purchase of eight (8) separate urban focused properties. Mr. Farmer was the Director ofInvestments at Talon Real Estate Holding Corp. (OTC: TALR); a publically traded real estate company structured as a Real EstateInvestment Trust (REIT). Mr. Farmer oversaw the acquisition of $65 million in properties structured as tax deferred mergers - umbrellapartnerships (UPREIT). Mr. Farmer also served as the Executive Vice President of Investments at Geneva, a private real estate investmentand wealth management company and oversaw the acquisition of $700 million in commercial and residential properties locatedthroughout the Midwest, Phoenix and Florida accounting for over 4.5 million square feet of space, which included all major propertytypes, hotel and senior housing. Mr. Farmer was a Vice President at Stonehaven Realty Trust and RESoft, Inc. (AMEX: RPP); a publiclytraded REIT and technology company and oversaw property management operations, third party accounting and investor reporting inaccordance with public company procedures.

Mr. Farmer is a graduate from the University of St. Thomas in St. Paul, Minnesota; is a licensed Real Estate Broker and is affiliated invarious industry associations. Mr. Farmer also currently services as a principal and primary broker at Structure Real Estate, LLC - aMinneapolis based real estate brokerage company providing transaction services to home buyers and sellers.

NAI LEGACY275 Market Street Suite #561

Minneapolis, MN 55405612.383.2590









MN #86083 // ND #7909

MICHAEL HOUGE, CCIM, SIOR

Managing Director

[email protected]: 612.383.2589 | Cell: 612.701.7454

PROFESSIONAL BACKGROUND

Michael Houge is the managing Director of NAI Legacy. NAI Legacy is a member of the NAI Global network of over 7,000 professionalsand 400 offices worldwide. NAI Legacy is coupling the latest technology with a traditional emphasis on customer service, our teamprovides strategic guidance. administrative support and brokerage services for properties totaling nearly 2,500,000 square feet. Withbusiness lines including property management, traditional sales and leasing services, and 1031 tax-deferred exchange solutions, the NAILegacy team is adept at navigating all aspects of quality commercial real estate assignments. Mr. Houge, CCIM, SIOR has over thirtyyears of experience in project leasing and investment sales. Michael is a specialist in the sale of net-leased investment properties, 1031Tax Deferred Exchanges, and more recently, commercial real estate in the Bakken oilfield markets of North Dakota. Mr. Houge hascompleted over a billion dollars in investment property transactions. Michael has also leased well over a million square feet as a landlordand tenant representative and is a frequent contributor and author in various real estate trade publications and speaks frequently onpanels and conferences on investment sales, capital markets, marketing, the net-lease industry, 1031 tax-deferred exchanges and NorthDakota real estate.Specialties Include:• The Purchase or Sale of Net-Leased Properties• 1031 Tax Deferred Exchanges• Commercial Real Estate Investments• Energy (Oil Field) Related Real Estate• Real Estate Technology• Office Properties• Retail and Industrial Real Estate• Land Sales• Financing• Property Sales and Acquisitions• Consulting for Real Estate Projects• Public Speaking and Presenting on Related Topics• Real Estate Marketing• Branding and Web-Based Initiatives• Investment Analysis

EDUCATION

B.A University of Minnesota-Twin CitiesCommercial Real Estate Institute (CCIM) Curriculum

MEMBERSHIPS

CCIM (Certified Commercial Investment Member)SIOR (Society of Industrial and Office REALTORs)ICSC (International Council of Shopping Centers)Minnesota Shopping Center Association (MSCA)National Association of REALTORs (NAR)Minnesota Commercial Association of REALTORs (MNCAR)

NAI LEGACY275 Market Street Suite #561

Minneapolis, MN 55405612.383.2590





