net lease Walgreens for sale

1. NET LEASED INVESTMENT OFFERING
Walgreens
Walgreens
1111 North Commerce Street
73401
Ardmore, OK 73401
www.bouldergroup.com

2. TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING
TABLE OF CONTENTS
1) Confidentiality & Disclaimer
2) Executive Summary
3) Property Overview
4) Aerial
5) Site Plan
6) Map
7) Tenant Profile
8) Demographic Comparison Report
9) Location Overview
10) Contact Information
www.bouldergroup.com

3. CONFIDENTIALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
CONFIDENTIALITY
CONFIDENTIALITY & DISCLAIMER
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.
www.bouldergroup.com

4. EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property located in
Ardmore, Oklahoma, halfway between Oklahoma City and Dallas. The 15,120 square foot Walgreens was built in 2000 and
benefits from its location within the primary retail trade area. Walgreens is committed to this location as evidenced by the
early ten year lease extension through August 2030. This location is a strong performing location and the extension
solidifies Walgreens presence in the area for eighteen more years.
The property is located on the corner of Commerce Street and 12th Avenue. This intersection has traffic counts in excess of
25,500 vehicles per day and benefits from a traffic signal on the hard corner, creating steady traffic flow at the site.
Additionally, there is a full access interchange with Interstate 35 approximately one mile from the property. Nearby
retailers include Wal-Mart Supercenter, Lowe’s, Ross, JCPenney, Hobby Lobby, Staples, PETCO and Carmike Cinemas.
Mercy Memorial Health Center, which employs over 1,000 health care workers and physicians, is also less than one-
quarter mile from the property. Mercy Memorial Health Center is part of the Mercy Health System of Oklahoma, one of the
largest in the state. Ardmore is located in the largest oil producing county in Oklahoma and has a trade area population in
excess of 100,000 people.
Walgreens’s original lease term was for 20 years and in 2012 Walgreens extended the lease early for an additional ten
years through August 2030. Walgreens is a publicly traded company on the New York Stock Exchange (WAG), with a
market capitalization of $25 billion. Walgreens is an investment grade rated company with a Standard & Poor’s rating of A.
INVESTMENT HIGHLIGHTS
• Long term lease with 18 years of lease term remaining
• Walgreens recently extended the lease for ten additional years
through August 2030
• Investment grade tenant (S&P: A)
• Positioned on the hard corner of a signalized intersection
• Approximately one mile from Interstate 35
• Traffic volumes in excess of 15,000 vehicles per day along
Commerce Street
• Other nearby retailers include Wal-Mart Supercenter, Lowe’s,
JCPenney, Hobby Lobby, Staples, PETCO and Carmike Cinemas
• Close proximity to the Mercy Memorial Health Center
• Strong sales history at this location
• Ardmore is located in the largest oil producing county in Oklahoma
www.bouldergroup.com

5. PROPERTY OVERVIEW
NET LEASED INVESTMENT OFFERING
PROPERTY OVERVIEW
Price: $4,458,462
Cap Rate: 6.50%
Net Operating Income: $289,800
Renewal Options: Six 5-Year
Lease Commencement Date: November 1, 2000
Lease Expiration Date: August 31, 2030
Tenant: Walgreens
Credit Rating: A
Year Built 2000
Lease Type: NN
Rentable Square Feet: 15,120 SF
Land Size: 1.35 acres
www.bouldergroup.com

6. AERIAL
NET LEASED INVESTMENT OFFERING
AERIAL
www.bouldergroup.com

7. SITE PLAN
NET LEASED INVESTMENT OFFERING
SITE PLAN
www.bouldergroup.com

8. MAP
NET LEASED INVESTMENT OFFERING
MAP
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9. TENANT PROFILE
NET LEASED INVESTMENT OFFERING
TENANT PROFILE
Walgreens is engaged in retail drugstore business. As of November 30, 2011, the Company operated 8,261
locations in all 50 states, the District of Columbia, Puerto Rico and Guam. The company also operates worksite
health centers, home care facilities, and specialty and mail service pharmacies. Its Take Care Health Systems
subsidiary manages more than 715 in-store convenient care clinics and worksite health and wellness centers. The
Company’s drugstores are engaged in the retail sale of prescription and non-prescription drugs and general
merchandise. General merchandise includes, among other things, household items, personal care, convenience
foods, beauty care, photofinishing, candy, and seasonal items. Walgreens offers customers the choice to have
prescriptions filled at the drugstore counter, as well as through the mail, by telephone, and through the Internet. In
March 2011, Walgreens announced that it has completed the acquisition Drugstore.com.
Website: www.walgreens.com
Number of Locations: 8,261
Stock Symbol: WAG : NYSE
Standard & Poor’s Rating: A
Market Capitalization: $25 Billion
www.bouldergroup.com

10. DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
DEMOGRAPHIC COMPARISON REPORT
Population 3-mi. 5-mi 10-
10-mi
Total Population 22,819 26,635 38,267
Total Households 9,479 10,935 15,307
Income
Median Household Income $35,331 $36,241 $38,293
Average Household Income $47,970 $48,242 $48,869
www.bouldergroup.com

11. LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
LOCATION OVERVIEW
Ardmore is the county seat of Carter County, Oklahoma. At the time of the 2010 U.S.
Census, Ardmore had a population of 24,283. Ardmore is located 90 miles
equidistant from Oklahoma City and Dallas at the junction of Interstate 35 and U.S.
Highway 70. Ardmore is located at the eastern margin of the Healdton Basin, one of
the most oil-rich regions of the United States. Ardmore is the primary retail location in
the area and boasts a trade pull factor of 1.70 – 1.90 equating to a per capita sales
number of $30,186 and a trade area population of 124,800.
Ardmore's major employers are Michelin North America (1,900 employees) and
Mercy Memorial Health Center (900 employees). Several hundred employees work
for regional distribution centers for Best Buy, Dollar Tree and Dollar General Stores,
among others. Additionally, a Valero Refinery in northeast Ardmore employs over 250
area residents.
http://ardmore.org/
www.bouldergroup.com

12. CONTACT INFORMATION
NET LEASED INVESTMENT OFFERING
CONTACT INFORMATION
666 Dundee Road Suite 1801
Northbrook, IL 60062
Randy Blankstein Jimmy Goodman
President Partner
847.562.0003 847.562.8500
rblank@bouldergroup.com jimmy@bouldergroup.com
www.bouldergroup.com