rite aid & walgreens portfolio investment …

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RITE AID & WALGREENS PORTFOLIO 50 Properties Available on an Individual or Portfolio Basis RITE AID & WALGREENS PORTFOLIO RITE AID & WALGREENS PORTFOLIO INVESTMENT OPPORTUNITY INVESTMENT OPPORTUNITY Belle Vernon, PA Belle Vernon, PA Berwick, PA Berwick, PA Sewell, NJ Sewell, NJ Youngstown, OH Youngstown, OH Barnegat, NJ Barnegat, NJ Schodack, NY Schodack, NY Mooresville, NC Mooresville, NC Norwich, NY Norwich, NY

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Page 1: RITE AID & WALGREENS PORTFOLIO INVESTMENT …

RITE AID & WALGREENS PORTFOLIO50 Properties Available on an Individual or Portfolio Basis

RITE AID & WALGREENS PORTFOLIO RITE AID & WALGREENS PORTFOLIO INVESTMENT OPPORTUNITYINVESTMENT OPPORTUNITY

Belle Vernon, PABelle Vernon, PA Berwick, PABerwick, PA Sewell, NJSewell, NJ

Youngstown, OHYoungstown, OH Barnegat, NJBarnegat, NJ

Schodack, NYSchodack, NY Mooresville, NCMooresville, NC Norwich, NYNorwich, NY

Page 2: RITE AID & WALGREENS PORTFOLIO INVESTMENT …

NET LEASE INVESTMENT OFFERING

DISCLAIMER STATEMENT

NET LEASE INVESTMENT OFFERING

DISCLAIMERSTATEMENT:

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/or Lee & Associates and should not be made available to any other person or entity without the written consent of The Boulder Group and/or Lee & Associates.

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 and Lee & Associates 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 and Lee & Associates have not verified, and will not verify, any of the information contained herein, nor has The Boulder Group or Lee & Associates 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.

Page 3: RITE AID & WALGREENS PORTFOLIO INVESTMENT …

PORTFOLIO OVERVIEW

Tenant City State Lease Term Building Size NOI Cap Rate Price Link Property Status

Walgreens Sand Lake NY 9 Years 14,673 SF $688,424 6.00% $11,473,733 View OM Available

Walgreens Schodack NY 7 Years 14,564 SF $412,161 6.25% $6,594,576 View OM Available

Walgreens Norwich NY 8 Years 11,392 SF $235,613 6.00% $3,926,883 View OM Available

Walgreens Liberty KY 4 Years 10,752 SF $169,561 7.25% $2,338,772 View OM Available

Walgreens Piedmont SC 5 Years 10,908 SF $105,000 7.40% $1,418,919 View OM Available

Walgreens Nashville GA 4 Years 10,004 SF $102,814 7.00% $1,468,771 View OM Available

Walgreens Cortland NY 5 Years 13,813 SF $345,137 7.50% $4,601,827 Sold

Walgreens Columbus GA 8 Years 13,824 SF $260,634 6.65% $3,919,308 Sold

Walgreens Ocean Springs MS 6 Years 10,752 SF $211,357 7.10% $2,976,859 Sold

Walgreens Morganton NC 9 Years 10,908 SF $189,200 7.25% $2,609,655 Sold

Walgreens Baltimore MD 6 Years 11,294 SF $184,648 7.25% $2,546,869 Sold

Walgreens Rumford ME 8 Years 11,058 SF $178,321 6.65% $2,681,519 Sold

Walgreens Camden SC 5 Years 10,908 SF $171,464 7.25% $2,365,021 Sold

Walgreens Vicksburg MS 7 Years 11,060 SF $160,737 7.00% $2,296,243 Sold

Walgreens Millinocket ME 8 Years 11,180 SF $150,371 7.00% $2,148,157 Sold

Walgreens Passaic NJ 7 Years 10,752 SF $144,714 6.65% $2,175,000 Sold

Walgreens Mooresville NC 4 Years 10,908 SF $125,000 7.60% $1,644,737 Sold

Total: 198,750 SF $3,835,156 6.93% $57,186,849

NET LEASE INVESTMENT OFFERING

Page 4: RITE AID & WALGREENS PORTFOLIO INVESTMENT …

Tenant City State Lease Term Building Size NOI Cap Rate Price Link Property StatusRite Aid Cheshire CT 11 Years 14,673 SF $818,789 9.00% $9,097,656 View OM AvailableRite Aid Geneva NY 9 Years 14,673 SF $589,775 7.25% $8,134,828 View OM AvailableRite Aid Blaine WA 12 Years 17,340 SF $514,297 6.00% $8,571,617 View OM AvailableRite Aid Tallmadge OH 8 Years 14,564 SF $426,505 7.35% $5,802,789 View OM AvailableRite Aid Portsmouth VA 8 Years 13,824 SF $376,087 7.00% $5,372,671 View OM AvailableRite Aid Pittsburgh (Perry) PA 8 Years 10,908 SF $357,949 7.50% $4,772,653 View OM AvailableRite Aid Conneaut Lake PA 7 Years 10,908 SF $325,116 7.00% $4,644,514 View OM AvailableRite Aid Flushing MI 9 Years 9,755 SF $313,040 7.40% $4,230,270 View OM AvailableRite Aid Pittsburgh (Banksville) PA 7 Years 10,908 SF $301,993 7.50% $4,026,573 View OM AvailableRite Aid Williamsport PA 9 Years 10,908 SF $300,007 7.00% $4,285,814 View OM AvailableRite Aid New Kensington PA 3 Years 10,908 SF $282,064 7.85% $3,593,172 View OM AvailableRite Aid Berwick PA 6 Years 14,055 SF $256,281 7.25% $3,534,910 View OM AvailableRite Aid New Castle PA 4 Years 12,738 SF $235,397 8.00% $2,942,463 View OM AvailableRite Aid Baldwinsville NY 8 Years 11,695 SF $206,992 7.40% $2,797,189 View OM AvailableRite Aid Youngstown OH 1 Years 11,325 SF $198,634 7.40% $2,684,243 View OM AvailableRite Aid Hubbard OH 9 Years 11,325 SF $195,501 7.25% $2,696,566 View OM AvailableRite Aid Altoona (Pleasant Valley) PA 8 Years 10,908 SF $187,660 9.00% $2,085,111 View OM AvailableRite Aid Durand MI 8 Years 11,060 SF $184,149 7.15% $2,575,510 View OM AvailableRite Aid Saginaw MI 7 Years 11,180 SF $170,108 7.75% $2,194,942 View OM AvailableRite Aid Richmond MI 6 Years 11,180 SF $129,609 7.25% $1,787,710 View OM AvailableRite Aid Altoona (Chestnut) PA 7 Years 10,908 SF $263,290 7.60% $3,464,342 View OM LOIRite Aid Lorain OH 2 Years 11,325 SF $200,842 8.50% $2,362,847 View OM LOIRite Aid Waterford MI 9 Years 14,564 SF $470,891 8.00% $5,886,138 SoldRite Aid West Chester PA 7 Years 11,153 SF $418,126 7.60% $5,501,658 SoldRite Aid Camden Wyoming DE 9 Years 10,908 SF $350,933 7.50% $4,679,107 SoldRite Aid State College PA 8 Years 10,908 SF $326,695 8.00% $4,083,688 SoldRite Aid Belle Vernon PA 7 Years 10,908 SF $301,135 7.25% $4,153,586 SoldRite Aid East Orange NJ 9 Years 10,121 SF $222,568 7.05% $3,156,993 SoldRite Aid Beaver Falls PA 8 Years 10,908 SF $221,320 7.40% $2,990,811 SoldRite Aid Clinton Township MI 8 Years 11,107 SF $200,000 8.00% $2,500,000 SoldRite Aid Barnegat NJ 9 Years 10,147 SF $183,762 7.15% $2,570,098 SoldRite Aid Sewell NJ 9 Years 10,752 SF $177,146 6.80% $2,605,088 SoldRite Aid Scranton PA 9 Years 10,096 SF $176,601 7.50% $2,354,680 SoldTotal: 388,640 SF $9,883,262 7.62% $129,785,557

PORTFOLIO OVERVIEW

NET LEASE INVESTMENT OFFERING

Page 5: RITE AID & WALGREENS PORTFOLIO INVESTMENT …

TENANT OVERVIEW

TENANTOVERVIEW:

WalgreensWalgreens Boots Alliance, Inc. operates as a pharmacy-led health and wellbeing company. The company operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of general merchandise, including non-prescription drugs, beauty products, photo finishing, seasonal merchandise, greeting cards, and convenience foods through its retail drugstores and convenient care clinics. It also provides specialty pharmacy services; and manages in-store clinics under the brand Healthcare Clinic. As of August 31, 2019, this segment operated 9,277 retail stores under the Walgreens and Duane Reade brands in the United States; and 7 specialty pharmacy locations, as well as managed approximately 400 Healthcare Clinics. Walgreens Boots Alliance, Inc. was founded in 1901 and is based in Deerfield, Illinois.

The Walgreen Company is the largest drug retailing chain in the United States. The company is publicly traded on the NASDAQ (Symbol: WBA) with a market capitalization in excess of $67 billion. Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment grade rated each with a Standard & Poor’s rating of BBB. In October 2016 Walgreens Boots Alliance received the United Nations Foundation Global Leadership Award for its commitment to the UN’s Sustainable Development Goals.

Website: www.walgreens.comNumber of Locations: 9,277Stock Symbol: WBA (NASDAQ)Standard & Poor’s Rating: BBBMarket Capitalization: $37 Billion

TENANT OVERVIEW:

NET LEASE INVESTMENT OFFERING

Page 6: RITE AID & WALGREENS PORTFOLIO INVESTMENT …

TENANT OVERVIEW

TENANTOVERVIEW:

Rite AidRite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. The company sells prescription drugs and a range of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products. It also offers health coaching, shared decision making tools, and health care analytics, including health coaching for medical decisions, chronic conditions, and wellness; population analytic solutions; and consulting services. The company offers its products to customers covered by third party payers, such as insurance companies, prescription benefit management companies, government agencies, private employers, and other managed care providers. It has a strategic alliance with GNC.

Rite Aid Corporation operates 2,400 stores in the United States. Rite Aid Corporation was founded in 1962 and is headquartered in East Pennsboro Township, Pennsylvania. Rite Aid is publicly traded on the New York Stock Exchange using the symbol “RAD”.

Website: www.riteaid.comFounded: 1962Number of Locations: 2,5400Stock Symbol: RAD (NYSE)Headquarters: East Pennsboro Township, Pennsylvania

NET LEASE INVESTMENT OFFERING

Page 7: RITE AID & WALGREENS PORTFOLIO INVESTMENT …

Youngstown, OHYoungstown, OH Sewell, NJSewell, NJ

Portsmouth, VAPortsmouth, VA Lorain, OHLorain, OH

Vicksburg, MSVicksburg, MS Schodack, NYSchodack, NY

Oak Hill, WVOak Hill, WV Belle Vernon, PABelle Vernon, PA

3520 Lake Avenue, Suite 203Wilmette, IL 60091

www.bouldergroup.com

Randy [email protected]

John FeeneySenior Vice [email protected]

Daniel [email protected]

1 McBride & Son Center Dr, Suite 140St. Louis, MO 63005

www.lee-associates.com