walreens exclusive listing | bradenton (ellenton), fl · 2017-07-26 · within 25 miles of...

Walgreens | Bradenton (Ellenton), FLOffering Memorandum

PATRICK NUTT MANAGING PARTNER

(954) 302-7365 [email protected]

Actual Site

EXCLUSIVE LISTINGOffering Memorandum

1

C A L K A I N .C O MC A L K A I N .C O M

Walgreens | Bradenton (Ellenton), FL


5945 US Hwy 301 N | Ellenton, FL 34222

Asking Price $6,015,985 | Cap Rate 6.25%

Net Operating Income (NOI) $375,999

Rent/Month $31,333.33

Rent/SF $25.08

Rentable Square Feet 14,490+/- SF

Land Area 1.96+/- Acres

Tenant Name Walgreens

Credit Rating S&P: BBB

Stock Symbol WBA

Guarantor Corporate

Ownership Type Fee Simple

Lease Type NNN

Landlord Responsibilities None

Store Opened 2001

Lease Term Remaining 4.5 Years

Lease Expiration December 31, 2021

Increases None

Options Eight (8), Five (5) Year

Investment Highlights • Strong sales - reported over $3.7M (~$14M gross sales)

• Convenient to I-75 and across from Ellenton Premium Outlet Mall

• Absolute NNN lease

• Only 20 miles north of Sarasota and 20 miles south of St. Petersburg

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Financial Summary


Tenant Snapshot

# of Locations 8,175

Stock Symbol WBA

Credit Rating S&P: BBB

About WalgreensWalgreens is an American pharmaceutical company which operates the largest drug retailing chain in the United States of America. It specializes in serving prescriptions, health & wellness products, health information and photo services. As of August 31, 2016, the company operated 8,175 stores in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. It was founded in Chicago, Illinois, in 1901. The Walgreens headquarters office is in the Chicago suburb of Deerfield, Illinois.

In December 2014, Walgreens completed its strategic combination with Alliance Boots to establish Walgreens Boots Alliance, Inc., forging the first global pharmacy-led, health and wellbeing enterprise. The combination brought together two leading companies with iconic brands, complementary geographic footprints, shared values and a heritage of trusted health care services through community pharmacy care and pharmaceutical wholesaling. Both companies have more than a century’s worth of experience in customer and patient care. Walgreens is today part of the Retail Pharmacy USA division of Walgreens Boots Alliance. Walgreens provides access to consumer goods and services, plus pharmacy, photo studio, health and wellness services in the United States through its retail drugstores, Walgreens Health Services division, and Walgreens Health and Wellness division.

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Tenant Overview


Distance To:Bradenton 7 miles

Sarasota 20 miles

St. Petersburg 20 miles

Tampa 40 miles

St. Petersburg

Bradenton

Sarasota

Tampa

Location Overview

Subject Site

75

75

4



75

Subject Site

60th

Ave

E 8,

600

VPD

US 301 33,500 VPD

I-75 81,500 VPD

North River Village

Ellenton Premium Outlets

5



60th Ave E

US 301 33,500 VPD

Subject Site

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Radius 1 Mile 3 Miles 5 MilesPopulation2016 Population 3,491 36,391 104,815

2021 Population 3,928 40,998 116,631

2010-2016 Annual Rate 2.86% 2.79% 2.05%

2016-2021 Annual Rate 2.39% 2.41% 2.16%

2016 Male Population 45.7% 47.9% 48.4%

2016 Female Population 54.3% 52.1% 51.6%

2016 Median Age 60.2 47.0 43.5

Households2016 Total Households 1,697 15,581 41,162

2021 Total Households 1,905 17,446 45,682

2010-2016 Annual Rate 2.25% 2.53% 1.89%

2016-2021 Annual Rate 2.34% 2.29% 2.11%

2016 Average Household Size 2.06 2.33 2.52

Median Household Income2016 Median Household Income $39,273 $46,400 $44,787

2021 Median Household Income $44,208 $54,056 $52,552

2016-2021 Annual Rate 2.40% 3.10% 3.25%

Average Household Income2016 Average Household Income $56,609 $62,959 $62,022

2021 Average Household Income $61,773 $69,854 $68,848

2016-2021 Annual Rate 1.76% 2.10% 2.11%

Per Capita Income2016 Per Capita Income $26,160 $26,614 $24,675

2021 Per Capita Income $28,488 $29,316 $27,235

2016-2021 Annual Rate 1.72% 1.95% 1.99%

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Demographics


Ellenton, FLEllenton’s central location makes it ideal for those who want to be close to the amenities offered by medium sized cities like Sarasota and Bradenton, while maintaining the quiet, calm atmosphere of a small town. Highway I-75 and State Route 43 make it easy for Ellenton’s residents to travel around the area, while people with a hankering for the beach can hop on US 64 by way of US 301.

Ellenton is located in Manatee County, which was recently ranked the 21st Best Place to Live by Money Magazine. The beaches, the old-Florida style neighborhoods and the eastern part of the county, which is still very rural, are major attractions for those who love Florida but can’t handle the wall of pavement that is slowly taking over many of Florida’s other metro areas.

Hard to miss from the interstate, the Ellenton Ice and Sports Rink is located just north of the Ellenton Outlet Mall. This state-of-the-art ice facility offers recreational and entertaiment activities for all ages.

The Gamble Plantation State Historical Site is located in Ellenton on US 301. It was once an extensive sugar plantation, and today it is the only surviving plantation house in South Florida. It is also the only Confederate memorial in the entire state of Florida. Covering over 3500 acres, this sugar plantation was built in the mid-1800s, and features a collection of antebellum furniture and a farmhouse dating back to the 1890s.

About Ellenton Premium OutletsHome to 130 designer and brand outlet stores for the whole family, Ellenton Premium Outlets is conveniently located off I-75 and US 301 in Ellenton, Florida within 25 miles of Sarasota, St. Petersburg, Tampa and Bradenton and a stone throw away from the beautiful beaches of Anna Maria Island, LongBoat Key, Siesta Key and St. Pete Beach. This outdoor mall features covered walkways, lush, tropical landscaping and flowing water fountains. Ellenton Premium Outlets stores range from women’s apparel and accessories to home furnishings to specialty items. Stores include Coach, Michael Kors, Nike Factory Store, Polo Ralph Lauren Factory Store and Saks Fifth Avenue Off 5th.

Elenton Premium Outlets

Ellenton Ice and Sports Complex

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Market Overview


PATRICK NUTT MANAGING PARTNER

(954) 302-7365 [email protected]

Who Are We? We are a national commercial real estate firm that provides consulting and brokerage services to both private and institutional clientele with an expertise on triple net lease investments. We pride ourselves on being a world class leader by providing our clients a full array of commercial real estate investment brokerage and asset management solutions, including advisory, research, estate planning and wealth management.

We have built solid relationships throughout our decades of experience and innovation, implementing long-term allocation within the context of each client’s particular risk tolerance and identifying how best to acquire and dispose of income producing properties for each entities’ specific set of investment criterion. At Calkain, our foresight and past performance are leading the net lease investment industry.

Our HistoryLike most success stories, Calkain was formulated from humble beginnings. Jonathan W. Hipp, President and CEO, took the initiative to build upon his decades of experience and performance and left a large international brokerage firm to become an independent and innovative leader within the triple net lease investment community. Armed with a sole employee and a single office, the firm has grown exponentially since its infancy in 2005.

With the growth in staff, seasoned professionals have been attracted to Calkain’s model of innovation, entrepreneurship and the fostering of long-lasting and meaningful relationships. Industry experts have joined Calkain in the hopes of implementing the skills they have honed in complementary aspects of real estate investment.

Through a tremendous endeavor, tireless hours have been committed to continually prove that Calkain is America’s Net Lease Company®. Its countless accolades received from the world’s leading business publications, including Forbes™, Fortune™ and the New York Times™ have confirmed that Calkain is a true leader in triple net lease investing services.

Client Testimonial

“USRA has worked with Calkain on numerous occasions. They have always been meticulous in their work ethic, providing superior service and extremely prompt attention to our needs. I highly recommend them.

- Jack Genende, Partner | U.S. Realty Advisors, LLC. (USRA)

$11.5 Billion in Closed Transactions

$350 Million

in Active Listings

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C A L K A I N .C O MC A L K A I N .C O M

About Calkain

DISCLAIMER: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regula-tions, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make 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.

Corporate Headquarters Washington, DC12930 Worldgate Drive | Suite 150 Herndon, VA 20170 T: (703) 787-4714 • F: (703) 787-4783

Tampa400 N. Tampa Street | Suite 2660 Tampa, FL 33602 T: (813) 282-6000 • F: (813) 282-6098

South Florida200 SW 1st Avenue | Suite 880 Fort Lauderdale, FL 33301 T: (954) 302-7365

Atlanta111 Village Parkway, Building 2 | Suite 202 Marietta, GA 30067 T: (404) 900-5629

Boston101 Federal Street | Suite 1900 Boston, MA 02110 T: (617) 261-8584

CALKAIN.COM

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walreens exclusive listing | bradenton (ellenton), fl · 2017-07-26 · within 25 miles of...

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