single tenant rite aid for sale

www.bouldergroup.com

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

Rite AidRite AidRite AidRite Aid

2249 North Canton Center Road2249 North Canton Center Road2249 North Canton Center Road2249 North Canton Center Road Canton, MI 48187 (DetroitCanton, MI 48187 (DetroitCanton, MI 48187 (DetroitCanton, MI 48187 (Detroit MSA)MSA)MSA)MSA)

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 Rite Aid property located within the Detroit MSA. The 11,180 square foot Rite Aid was built in 1999 and is positioned on the hard corner of a signalized intersection. The property is located in a dense retail area anchored by IKEA. Additionally, the property is benefited by its location within an affluent area with over 150,000 people living within five miles of the property.

The property is located at the signalized intersection of Ford Road (Michigan Rte. 153) and North Canton Center Road. Ford Road experience traffic counts in excess of 39,800 vehicles per day and has a direct access interchange with Interstate 275 two miles east of the property. Interstate 275 experiences traffic counts in excess of 118,000 vehicles per day. Ford Road is the major retail thoroughfare in Canton with numerous national tenants. Nearby retailers include IKEA, Target, Lowe’s, Meijer, Kohl’s, Bed Bath & Beyond, PetSmart and Jo-Ann Fabrics. Additionally, the property benefits from its close proximity to a Wal-Mart Supercenter, Sam’s Club and Home Depot. Residents living within one mile of the property enjoy average household incomes in excess of $90,000 annually.

Rite Aid’s original lease term was for 20 years and the lease expires in October 2019. The lease features six 5-year renewal options with 3% rental escalations. Rite Aid is a publicly traded company on the New York Stock Exchange (RAD), with a market capitalization of $1.5 billion.

• Located within a major market

• Traffic volumes along Ford Road in excess of 39,000 vehicles per day

• Positioned on the hard corner of a signalized intersection

• Located within a retail trade area anchored by IKEA

• Nearby retailers include Wal-Mart, Sam’s Club, Home Depot Target, Lowe’s, Meijer, Kohl’s, Bed Bath & Beyond, PetSmart and Jo-Ann Fabrics

• Over 150,000 people living within five miles of the property

• Average household income in excess of $90,000 within one mile of the property

INVESTMENT HIGHLIGHTS

EXECUTIVE SUMMARY

EXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARY



Price: $3,788,300

Cap Rate: 9.00%

Rent Schedule: NOI Escalation Date

$ 340,947

$ 352,127 11/1/2019 (Option 1)

$ 363,307 11/1/2024 (Option 2)

$ 374,487 11/1/2029 (Option 3)

$ 385,667 11/1/2034 (Option 4)

$ 396,027 11/1/2039 (Option 5)

$ 408,027 11/1/2044 (Option 6)

Renewal Options: Six 5-year

Lease Commencement Date: November 1, 1999

Lease Expiration Date: October 31, 2019

Tenant: Rite Aid

Year Built 1999

Lease Type: NN (Roof & Structure)

Rentable Square Feet: 11,180

Land Acreage: 1.79 acres

PROPERTY OVERVIEW

PROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEW



AERIALAERIALAERIALAERIAL

AERIAL



SITE PLANSITE PLANSITE PLANSITE PLAN

SITE PLAN



MAP

MAPMAPMAPMAP



Website: www.riteaid.com Number of Locations: 4,667 Stock Symbol: RAD Market Capitalization: $1.5 billion Employees: 55,000

Rite Aid (NYSE: RAD) is a national drugstore chain ranked third in the United States by total number of stores. In its stores, Rite Aid sells prescription drugs and an assortment of other merchandise including over the counter medications, a selection of health and beauty aids and personal care products, seasonal merchandise convenience foods, beverages and a large private brand product line. Rite Aid is ranked #100 on the 2011 Fortune 500. Rite Aid serves customers through over 4,600 stores across 31 states. Rite Aid has approximately 55,000 employees and is headquartered in Pennsboro Township, Pennsylvania.

TENANT PROFILE

TENANT PROFILETENANT PROFILETENANT PROFILETENANT PROFILE



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

Total Population 10,920 82,724 161,595 Total Households 3,815 29,662 62,797

IncomeIncomeIncomeIncome

Median Household Income $86,193 $80,580 $65,987 Average Household Income $92,119 $90,482 $80,106

DEMOGRAPHIC COMPARISON REPORT

DEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORT



LOCATION OVERVIEW

LOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEWLOCATION OVERVIEW

The Charter Township of CantonThe Charter Township of CantonThe Charter Township of CantonThe Charter Township of Canton, commonly referred to as Canton, is a charter

township of Wayne County, Michigan. Canton is located 23 miles west of Detroit and

17 miles east of Ann Arbor. Canton is one of Michigan’s fastest growing communities.

As of the 2010 U.S census, The Charter Township of Canton had a population of

Downtown Detroit is home to the Compuware world headquarters, Blue Cross Blue Shield, HP Enterprise Services,

and Quicken Loans, who recently relocated its headquarters and 4,000 employees downtown. Detroit also benefits

from the casino gaming industry. Detroit is the largest city in the United States to offer casino resort hotels and is

home to the MGM Grand Detroit, MotorCity Casino and Greektown Casino.

www.detroitmi.gov

Detroit Detroit Detroit Detroit is the largest city in the state of Michigan and the county seat of Wayne

County. At the time of the 2010 U.S. Wayne County was ranked as the 15th most

populous county in the United States with a population of 1,820,584. The Detroit MSA

is the 13th most populated metropolitan area in the United States with 4,296,250

residents. The Detroit metropolitan area, commonly referred to as Metro Detroit, is

widely known as the automobile industry hub of North America. Most notably, Detroit

is known for the “Big Three” automobile companies, General Motors, Ford and

Chrysler, all headquartered in Metro Detroit. The Detroit auto industry employs over

70,000 people.

90,173, making it the second largest township and eleventh largest community in the state of Michigan. Canton is

home to the North American headquarters of Yazaki, a global automotive parts supplier. Yazaki employs over

192,000 people globally and over 1,000 employees in Canton.

www.canton-mi.org



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

single tenant rite aid for sale

Real Estate

aerialnet leased investment

mapnet leased investment

property benefits

subject property

investment highlights

square foot rite aid

following offering memorandum

rite aidserves customers