Tuesday, January 6, 2015

Net Lease Offering :: 14.5 Year Absolute NNN WALGREENS :: Above Average Sales :: New England Location

Investment Highlights

Price: $6,275,000 - CAP: 5.65%

Investment-Grade Guarantor: Walgreen Co. (NYSE: WAG, S&P: BBB), together with its subsidiaries, operates 8,681 stores (as of October 2013) across 50 states, the District of Columbia and Puerto Rico. The company produced total revenues of more than $74.1 billion, an EBITDA of $4.9 billion, and net income of $2.7 billion as of LTM February 2014.

Long-Term Absolute NNN Investment: 14.5+ years of primary lease term remaining; ten 5-year renewal options–no landlord responsibilities 

Proven Location: Strong annual store level sales. This Walgreens reports sales well over the national average for Walgreens

Market: Willimantic, included within Windham County (Population: 117,000 people), is a suburban community with a population of more than 17,000 people. The village is centrally located between Hartford, Connecticut (25 miles) and Providence, Rhode Island (45 miles)

Hard Corner Intersection: Ideally positioned on a hard corner at the signalized intersection of West Avenue and Main Street (Traffic Count: 20,600 VPD), which serves as the area’s preeminent artery and retail corridor

Strategic Location: Positioned less than 1 mile from the 144-bed Windham Hospital, Windham County’s primary acute-care community hospital that has a 19-town service area and employs more than 800 people, and East Connecticut State University, the third-oldest public university in the United States with an enrollment of more than 5,500 students

Substantial Commercial Corridor: More than 1.5 MSF of retail and 2,100 multi-family units within a 3-mile radius; major retailers in the immediate area include BJ's Wholesale Club, Stop & Shop, PriceRite, Bank of America, Family Dollar, Rent-A-Center, Sally Beauty Supply, UPS, Subway, Valero, Burger King, McDonald’s, Dollar Tree, Autozone, Taco Bell, KFC, Stop & Shop Gas, Dunkin’ Donuts, AT&T, CVS, Dairy Queen, Chrysler, Dodge, and Jeep

Dynamic Demographics: 3-mile AHI and population of 25,806 and $62,654, respectively

Additional Tags:
Drugs, NNN, CVS, Single Tenant net leased, Pharmacy, off market triple net properties, Rite Aid, 1031 Exchange, Walgreens, STNL investments

No comments:

Post a Comment