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Confidential Offering Memorandum
A Net Lease Investment Opportunity
Representative Photo
Zero Cash Flow LeaseholdsWalgreen’s Portfolio
Confidential Offering MemorandumA Net Lease Investment Opportunity
CONFIDENTIALITY & RESTRICTED USE AGREEMENT
The information contained in this Offering Memorandum is confidential, furnished solely for the purpose of review bya prospective purchaser of the Walgreens Zero Cash Flow Portfolio in GA, OH, ID, PA, AZ, FL, NY, and MI presentedherein (the “Property,” or “Properties,” or ”Portfolio”) and is not to be used for any other purpose or made availableto any other person without the express written consent of The Net Lease Group, LLC. (“NLG”). The material is basedin part upon information supplied by Owner and in part upon information obtained by The Net Lease Group fromsources it deems reasonably reliable. Summaries of any documents are not intended to be comprehensive or allinclusive but rather only an outline of some of the provisions contained therein. No warranty or representation,expressed or implied, is made by Owner, The Net Lease Group, or any of their respective affiliates, as to theaccuracy or completeness of the information contained herein or any other written or oral communication transmittedto a prospective purchaser in the course of its evaluation of the Portfolio. No legal liability is assumed or implied inconnection with the information or such other communications. Without limiting the generality of the foregoing, theinformation shall not be deemed a representation of the state of affairs of any Property or constitute an indicationthat there has been no change in the business or affairs of any Property since the date of preparation of theinformation. Prospective purchasers should make their own projections and conclusions without reliance upon thematerials contained herein and conduct their own independent due diligence, including engineering and environmentalinspections, to determine the condition of any Property and the existence of any potentially hazardous materiallocated at the site.This Offering Memorandum was prepared by The Net Lease Group and has been reviewed by the Owner. It containsselect information pertaining to each Property and does not purport to be all inclusive or to contain all of theinformation which a prospective purchaser may desire. All financial projections are provided for general referencepurposes only and are based on assumptions relating to the general economy, competition and other factors beyondcontrol and, therefore, are subject to material change or variation. An opportunity to inspect any Property will bemade available to qualified prospective purchasers.In this Offering Memorandum, certain documents and other materials are described in summary form. The summariesdo not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do theyconstitute a legal analysis of such documents. Interested parties are expected to independently review all documents.This Offering Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice anddoes not constitute a recommendation, endorsement or advice as to the value of any Property by The Net LeaseGroup or the Owner. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as tothe advisability of purchasing any Property described herein.Owner and The Net Lease Group expressly reserve the right, at their sole discretion, to reject any or all expressionsof interest or offers to purchase the Property and/or to terminate discussions with any party at any time with orwithout notice. Owner shall have no legal commitment or obligation to any interested party reviewing this OfferingMemorandum or making an offer to purchase any Property unless a written agreement for the purchase of saidProperty has been fully executed and delivered by the Owner and such party and any conditions to Owner’sobligations thereunder have been satisfied or waived and then only to the extent expressly provided for therein. TheNet Lease Group is not authorized to make any representations or agreements on behalf of Owner.This Offering Memorandum is the property of The Net Lease Group and may be used only by parties approved byThe Net Lease Group and Owner. The Portfolio is privately offered and, by accepting delivery of this OfferingMemorandum, the party in possession hereof agrees (i) to return it to The Net Lease Group immediately upon requestof The Net Lease Group or Owner and (ii) that this Offering Memorandum and its contents are of a confidentialnature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may becopied or otherwise reproduced or disclosed to anyone without the prior written authorization of The Net LeaseGroup and Owner.
The terms and conditions set forth above apply to this Offering Memorandum in its entirety.
3350 Riverwood Parkway, Suite 700Atlanta, GA 30339
thenetleasegroup.com
Philip WickstromManaging Principal404.551.2226pwickstrom@thenetleasegroup.com
Esmael HillManaging Principal404.551.2068ehill@thenetleasegroup.com
Evan MortonAnalyst404.551.2007emorton@thenetleasegroup.com
EXCLUSIVELY MARKETED BY
Executive Summary
Investment Highlights
Portfolio Overview
Tenant Overview
Locations Overview
The Offering
Tenant SummaryTenant Facts & Figures
CONTENTS
Map and DemographicsLease & Loan SummaryTrade Area Aerial
Paydown-ReadvancePricing SummaryMap of PropertiesLease & Loan Summary
Bid Instructions
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The Net Lease Group is pleased to exclusively offer for sale a portfolioof seven (7) zero cash flow Walgreens leasehold retail properties within-place, fully amortizing, assumable, zero cash flow debt financing. Theproperties are located in Georgia, Ohio, Idaho, Pennsylvania, Arizona,New York, and Michigan.
Each property is 100% leased to Walgreens through a bondable triplenet lease that is guaranteed by the Walgreen Company and providesthat there will be no rent abatement or Landlord responsibilitieswhatsoever. The tenant is responsible for all costs to operate, maintainand repair the property including taxes, insurance, and assessments.
Depending on the pool, the mortgage debt will be fully amortized onNovember 25, 2039 or April 25, 2039 and all rent will then be paid tothe landlord as NOI/Free Cash Flow after this date.
The portfolio offers the investor flexibility to satisfy a range of debt andequity exchange needs due to the highly leveraged structure and lowpercentage of required equity.
After closing, the investor can extract its excess equity from thetransaction free of tax liability per the paydown re-advance featurecontained in the debt documents.
In addition, the mortgage interest deduction and depreciation of theimprovements may generate passive losses that the investor may use tooffset passive gains from other assets to potentially reduce the investor’soverall tax liability.
The properties are available to be purchased individually or as aportfolio.
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PURCHASE PRICE: $20,400,035LOAN BALANCE: $17,471,396REQUIRED EQUITY: $ 2,928,639
EXECUTIVE SUMMARYTHE OFFERING
EXECUTIVE SUMMARYINVESTMENT HIGHLIGHTS
*Representative Photo
Zero Cash Flow, Bondable Triple Net LeasesThe leases are bondable, triple net leases with no landlord responsibilities whatsoever.The tenant is responsible for all taxes, insurance, maintenance, repair and operatingcosts associated with the property. Further, the leases are bondable with noabatement of rent occurring under any circumstance, including casualty events whichdemand the tenant restore improvements to their previous condition.
Scalability to Satisfy Exchange Needs of All SizesThis portfolio of properties offers ease of scalability to satisfy large and smallexchange needs while enabling investors to replace large amounts of debt, if needed.
Paydown Re-Advance FeatureAn investor can satisfy the equity and debt portion of their exchange through theacquisition and subsequently extract excess equity over the required purchase equitywithout tax liability.
Passive Losses Can Offset Passive Income to MitigateTax LiabilityThe passive losses generated by the zero cash flow structure may enable an investorto offset or reduce passive income, and thereby reduce the investor’s tax liability.
Potential Appreciation of the Real EstateThrough its site selection process, Walgreens selects strategic and valuable locationsthat tend to appreciate over time.
Corporate GuarantyAll the leases are completely guaranteed by Walgreen Company (NYSE: WBA), aninvestment grade tenant (S&P: BBB/Stable) with Annual Revenues exceeding $137Billion.
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A Section 1031 Exchange Investor in the Walgreens property orproperties can utilize the paydown-readvance feature of theexisting debt to cover any debt and equity requirementsassociated with the trade, and extract cash from the transaction.The following hypothetical illustrates how the paydown-readvance feature could be utilized:
HYPOTHETICAL An Investor with a $20.4 million downleg trade($16.56 million of equity and $3.84 million of debt) is seekinga property or properties to acquire in order to accomplish anI.R.C. Section 1031 Exchange.
SOLUTION The Investor can purchase the Walgreens Portfolio byassuming the in-place debt of $17.47 million and investing therequired equity of $2.93 million.
STEP ONE The Investor’s $16.56 million of equity is applied to thepurchase of the Walgreens Portfolio which covers the requiredequity of the transaction.
STEP TWO $13.63 million of the Investor’s equity (the excess ofthe Investor’s $16.56 million of equity from the downleg tradeover the $2.93 million required to purchase the WalgreensPortfolio) is applied to temporarily paydown the current debtbalance of the portfolio. The resulting interim debt balance is$3.84 million, which covers the replacement debt required tosatisfy the Investor’s exchange.
STEP THREE The debt is readvanced from the interim debtbalance of $3.84 million to the previous debt balance of$17.47 million, and the Investor’s $13.63 million of excessequity is return to the Investor without any tax liability.
THE RESULT The Investor has satisfied 100% of his exchangeneed (both debt and equity) and extracted $13.63 million ofnon-taxable cash proceeds to be used as the Investor chooseswithout any tax liability.
Representative Photo 3Representative Photo
PORTFOLIO OVERVIEWPAYDOWN-READVANCE
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PORTFOLIO OVERVIEWPRICING SUMMARY
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STORE NUMBER
STREET ADDRESS CITY STATE LEASE COMENCEMENT LEASE EXPIRATIONLEASEHOLD ANNUAL
RENTLOAN BALANCE
(3/25/20)REQUIRED EQUITY PURCHASE PRICE
11994 2225 E Walnut Ave Dalton GA April 3, 2014 August 30, 2068 $174,019 $2,107,511 $347,739 $2,455,250
12083 1444 W 5th Ave Columubs OH April 3, 2014 April 29, 2084 $246,140 $2,982,688 $492,144 $3,474,832
12123 3395 S Federal Way Boise ID April 3, 2014 October 30, 2033 $197,283 $2,389,815 $394,319 $2,784,134
SUB TOTAL $7,480,014 $1,234,202 $8,714,216
* Must be purchased together
STORE NUMBER
STREET ADDRESS CITY STATE LEASE COMENCEMENT LEASE EXPIRATIONLEASEHOLD ANNUAL
RENTLOAN BALANCE
(3/25/20)REQUIRED EQUITY PURCHASE PRICE
11461 800 E Lincoln Hwy Coatesville PA November 7, 2014 October 31, 2086 $248,454 $3,242,932 $535,084 $3,778,016
10505 2785 N. Pinal Avenue Casa Grande AZ November 7, 2014 April 30, 2088 $177,921 $2,320,395 $382,865 $2,703,260
15192 710 150th Ave Madeira Beach FL November 7, 2014 December 31, 2087
12577 25201 Wesley Chapel Road Lutz FL November 7, 2014 February 29, 2084
11377 6709 Pittsford Palmyra Road Fairport NY November 7, 2014 December 31, 2055 $175,821 $2,292,926 $424,191 $2,717,117
12534 1301 N U.S. Highway 31 Petoskey MI November 7, 2014 September 30, 2083 $163,757 $2,135,130 $352,296 $2,487,426
*POOL A PRICING SUMMARY
Closed
Closed
POOL B PRICING SUMMARY
SUB TOTAL $9,991,382 $1,694,437 $11,685,819
TOTALS $17,471,396 $2,928,639 $20,400,035
12534
11377
10505
12123
11994
12083 11461
15192
12577
PORTFOLIO OVERVIEWSTORE LOCATIONS
POOL A
POOL B
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PORTFOLIO OVERVIEW
Representative Photo
LEASE GUARANTOR Walgreen Company
INITIAL LEASE TERM 35 - 70 Years
LEASE COMMENCEMENT
LEASE EXPIRATION See Lease Summary
LANDLORD RESPONSIBILITES None Whatsoever
RENT HOLIDAY None
April 3, 2014
LOAN BALANCE (3/25/2020)
INTEREST RATE 4.46% / 5.15%
LOAN MATURITY DATE
BALLOON BALANCE $0 (Fully Amortizing Loan)
PAYDOWN-READVANCEBorrower can utilize
the paydown-readvance feature
November 25, 2039 / April 25, 2039
$17,471,396
LEASE
LOAN
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TENANT OVERVIEW
Walgreens is headquartered in Deerfield, IL, and is the second largestdrugstore chain in the U.S., with more than 8,100 stores in all 50states, the District of Columbia, Puerto Rico, and the U.S. VirginIslands. In addition, the company operates more than 400 in-store andworksite health and wellness centers that offer immunizations,prevention and wellness programs, as well as treatments for minorinjuries, illnesses and skin conditions, which manages and monitorsongoing health conditions.
Walgreens provides consumer goods, pharmacy and wellness servicesthrough its retail drugstores, direct mail, telephone and onlineplatforms. The company sells prescription and non-prescription drugsand general merchandise including household products, convenienceand fresh foods, personal care, beauty care, photo finishing, as wellas home medical equipment, contact lenses, vitamins, supplements andother health and wellness solutions. Walgreens also provides specialtypharmacy services for managing complex and chronic healthconditions.
On a 30-day adjusted basis in fiscal year 2018, Walgreens filled 1.1billion prescriptions (including immunizations). With stores locatedwithin five-miles of approximately 78 percent of Americans, andthrough popular online offerings and its award-winning mobile app,Walgreens interacts with 8 million customers per day.
Traded on the NASDAQ under the ticker WBA (S&P: BBB), Walgreensreported annual revenues of $137 billion and net income of $3.98billion for fiscal year 2019.
Representative Photo
GUARANTOR Walgreen Co.
HEADQUARTERS Deerfield, IL
STOCK SYMBOL WBA
CREDIT RATING BBB
BUISNESS Retail Pharmacy
LOCATIONS 8,110 +
ANNUAL REVENUE $137 Billion
NET INCOME $3.98 Billion
EARNINGS/SHARE (TTM) $4.06
WEBSITE www.walgreens.com
TENANT SUMMARY
SUMMARY
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TENANT OVERVIEW
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FACTS AND FIGURES9,560 PHARMACY STORE LOCATIONS Walgreens has more than 9,560 retail drug stores in all 50 states, the District of Columbia, Puerto
Rico and the U.S. Virgin Islands.
245,000+ EMPLOYEES Walgreens employs more than 245,000 colleagues across all 50 states, Washington, D.C., Puerto Rico and the U.S.
Virgin Islands.
1.1 BILLION PRESCRIPTIONS Walgreens fills or manages 1.1 billion prescriptions on a 30-day adjusted basis in 2018.
85,000 HEALTHCARE SERVICE PROVIDERS Walgreens has more than 85,000 healthcare service providers, including pharmacists, pharmacy
technicians, nurse practitioners and other health-related professionals.
87 MILLION BALANCE REWARD MEMBERS Walgreens has approximately 87 million Balance Reward active members as of August 2016.
8 MILLION CUSTOMERS SERVED DAILY Every day, Walgreens serves 8 million customers in its retail pharmacies and on-line.8
LOCATION OVERVIEWDALTON, GA
LEASE SUMMARY
LOAN SUMMARYDEMOGRAPHICS 1 MILE 3 MILES 5 MILES
TOTAL POPULATION 5,808 33,321 63,818
MEDIAN HOUSEHOLD INCOME $41,478 $44,282 $49,526
PERCENTAGE OF POPULATION 45+ 32.4% 33.6% 36.7%
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STREET ADDRESS 2225 East Walnut Avenue
CITY, STATE Dalton, GA
STORE NUMBER 11994
LAND AREA (ACRES) 1.7
BUILDING SIZE (SQUARE FEET) 14,000
YEAR BUILT 2008
LEASE GUARANTOR Walgreen Co.
LEASE COMMENCEMENT
LEASE EXPIRATION
FIRST TERMINATION OPTION
LEASEHOLD ANNUAL RENT
LANDLORD RESPONSIBILITES None Whatsoever
RENT HOLIDAY None
GROUND LEASE COMENCEMENT
GROUND LEASE EXPIRATION
ANNUAL GROUND RENT
FIRST TERMINATION OPTION
$198,000
August 31, 2033
April 3, 2014
August 30, 2068
April 30, 2039
$174,019
August 17, 2008
August 31, 2068
LOAN BALANCE (3/25/20)
INTEREST RATE 5.15%
LOAN MATURITY DATE
$2,107,511
April 25, 2039
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LEASE SUMMARY
LOAN SUMMARYLOAN BALANCE (3/25/20)
INTEREST RATE 5.15%
LOAN MATURITY DATE
$2,982,688
April 25, 2039
DEMOGRAPHICS 1 MILE 3 MILES 5 MILES
TOTAL POPULATION 21,904 156,382 350,350
MEDIAN HOUSEHOLD INCOME $83,670 $65,966 $63,639
PERCENTAGE OF POPULATION 45+ 32.8% 28.1% 34.0%
LOCATION OVERVIEWCOLUMBUS, OH
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STREET ADDRESS 1444 West 5th Avenue
CITY, STATE Columbus, OH
STORE NUMBER 12083
LAND AREA (ACRES) 0.7
BUILDING SIZE (SQUARE FEET) 10,977
YEAR BUILT 2008
LEASE GUARANTOR Walgreen Co.
LEASE COMMENCEMENT
LEASE EXPIRATION
FIRST TERMINATION OPTION
LEASEHOLD ANNUAL RENT
LANDLORD RESPONSIBILITES None Whatsoever
RENT HOLIDAY None
GROUND LEASE COMENCEMENT
GROUND LEASE EXPIRATION
ANNUAL GROUND RENT
FIRST TERMINATION OPTION
$175,000
April 30, 2033
April 3, 2014
April 29, 2084
April 30, 2039
$246,140
April 30, 2009
April 30, 2084
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LEASE SUMMARY
LOAN SUMMARYLOAN BALANCE (3/25/20)
INTEREST RATE 5.15%
LOAN MATURITY DATE
$2,389,815
April 25, 2039
DEMOGRAPHICS 1 MILE 3 MILES 5 MILES
TOTAL POPULATION 8,309 62,557 123,980
MEDIAN HOUSEHOLD INCOME $68,208 $62,919 $62,342
PERCENTAGE OF POPULATION 45+ 43.6% 39.3% 39.1%
LOCATION OVERVIEWBOISE, ID
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STREET ADDRESS 3395 South Federal Way
CITY, STATE Boise, ID
STORE NUMBER 12123
LAND AREA (ACRES) 1.65
BUILDING SIZE (SQUARE FEET) 14,000
YEAR BUILT 2008
LEASE GUARANTOR Walgreen Co.
LEASE COMMENCEMENT
LEASE EXPIRATION
OPTION PERIODS
LEASEHOLD ANNUAL RENT
LANDLORD RESPONSIBILITES None Whatsoever
RENT HOLIDAY None
GROUND LEASE COMENCEMENT
GROUND LEASE EXPIRATION
ANNUAL GROUND RENT
OPTION PERIODS
$175,500
Five Ten-Year Options
April 3, 2014
October 30, 2033
Five Ten-Year Options
$197,283
October 13, 2008
October 31, 2033
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LEASE SUMMARY
LOAN SUMMARY
LOCATION OVERVIEWCOATESVILLE, PA
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STREET ADDRESS 800 E Lincoln Hwy
CITY, STATE Coatesville, PA
STORE NUMBER 11461
LAND AREA (ACRES) 1.3
BUILDING SIZE (SQUARE FEET) 14,800
YEAR BUILT 2008
LEASE GUARANTOR Walgreen Co.
LEASE COMMENCEMENT
LEASE EXPIRATION
FIRST TERMINATION OPTION
LEASEHOLD ANNUAL RENT
LANDLORD RESPONSIBILITES None Whatsoever
RENT HOLIDAY None
GROUND LEASE COMENCEMENT
GROUND LEASE EXPIRATION
ANNUAL GROUND RENT
FIRST TERMINATION OPTION
$220,000
October 31, 2036
November 7, 2014
October 31, 2086
November 30, 2039
$248,454
January 1, 2011
October 31, 2086
LOAN BALANCE (3/25/20)
INTEREST RATE 4.46%
LOAN MATURITY DATE
$3,242,932
November 25, 2039
DEMOGRAPHICS 1 MILE 3 MILES 5 MILES
TOTAL POPULATION 3,896 33,081 58,840
MEDIAN HOUSEHOLD INCOME $53,649 $53,353 $50,619
PERCENTAGE OF POPULATION 45+ 37.4% 43.4% 43.4%
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LEASE SUMMARY
LOAN SUMMARY
LOCATION OVERVIEWCASA GRANDE, AZ
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STREET ADDRESS 2785 N. Pinal Avenue
CITY, STATE Casa Grande, AZ
STORE NUMBER 10505
LAND AREA (ACRES) 2.04
BUILDING SIZE (SQUARE FEET) 14,736
YEAR BUILT 2008
LEASE GUARANTOR Walgreen Co.
LEASE COMMENCEMENT
LEASE EXPIRATION
FIRST TERMINATION OPTION
LEASEHOLD ANNUAL RENT
LANDLORD RESPONSIBILITES None Whatsoever
RENT HOLIDAY None
GROUND LEASE COMENCEMENT
GROUND LEASE EXPIRATION
ANNUAL GROUND RENT
FIRST TERMINATION OPTION
November 7, 2014
April 30, 2088
November 30, 2039
$177,921
$140,000
April 30, 2088
April 30, 2033
April 30, 2008
LOAN BALANCE (3/25/20)
INTEREST RATE 4.46%
LOAN MATURITY DATE
$2,320,395
November 25, 2039
DEMOGRAPHICS 1 MILE 3 MILES 5 MILES
TOTAL POPULATION 3,896 33,081 58,840
MEDIAN HOUSEHOLD INCOME $53,649 $53,353 $50,619
PERCENTAGE OF POPULATION 45+ 37.4% 43.4% 43.4%
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LEASE SUMMARY
LOAN SUMMARY
LOCATION OVERVIEWFAIRPORT, NY
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STREET ADDRESS 6707 Pittford Palmyra Road
CITY, STATE Fairport, NY
STORE NUMBER 11377
LAND AREA (ACRES) 1.93
BUILDING SIZE (SQUARE FEET) 14,820
YEAR BUILT 2010
LEASE GUARANTOR Walgreen Co.
LEASE COMMENCEMENT
LEASE EXPIRATION
FIRST TERMINATION OPTION
LEASEHOLD ANNUAL RENT
LANDLORD RESPONSIBILITES None Whatsoever
RENT HOLIDAY None
GROUND LEASE COMENCEMENT
GROUND LEASE EXPIRATION
ANNUAL GROUND RENT
FIRST TERMINATION OPTION
$262,500
December 31, 2031
November 7, 2014
December 31, 2055
November 30, 2039
$175,821
December 29, 2006
December 31, 2055
LOAN BALANCE (3/25/20)
INTEREST RATE 4.46%
LOAN MATURITY DATE
$2,364,233
November 25, 2039
DEMOGRAPHICS 1 MILE 3 MILES 5 MILES
TOTAL POPULATION 2,574 5,489 11,412
MEDIAN HOUSEHOLD INCOME $39,767 $43,192 $48,302
PERCENTAGE OF POPULATION 45+ 54.4% 51.0% 50.3%
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LEASE SUMMARY
LOAN SUMMARY
LOCATION OVERVIEWPETOSKEY, MI
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STREET ADDRESS 1301 N U.S. Highway 31
CITY, STATE Petoskey, MI
STORE NUMBER 12534
LAND AREA (ACRES) 1.74
BUILDING SIZE (SQUARE FEET) 13,650
YEAR BUILT 2008
LEASE GUARANTOR Walgreen Co.
LEASE COMMENCEMENT
LEASE EXPIRATION
FIRST TERMINATION OPTION
LEASEHOLD ANNUAL RENT
LANDLORD RESPONSIBILITES None Whatsoever
RENT HOLIDAY None
GROUND LEASE COMENCEMENT
GROUND LEASE EXPIRATION
ANNUAL GROUND RENT
FIRST TERMINATION OPTION
$176,000
September 30, 2033
November 7, 2014
September 30, 2083
November 30, 2039
$163,757
September 29, 2008
September 30, 2083
LOAN BALANCE (3/25/20)
INTEREST RATE 4.46%
LOAN MATURITY DATE
$2,135,130
November 25, 2039
DEMOGRAPHICS 1 MILE 3 MILES 5 MILES
TOTAL POPULATION 728 8,038 15,931
MEDIAN HOUSEHOLD INCOME $66,965 $53,952 $56,785
PERCENTAGE OF POPULATION 45+ 50.2% 46.3% 49.1%
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BID INSTRUCTIONS
All purchase offers must be submitted to The Net Lease Groupand should include written responses to the following:
1. Confirm that the Purchaser will assume the in-place debt.
2. Indicate the amount of equity over the debt and the resulting purchase price being offered by the investor.
3. Seller will pay for Seller’s legal costs and brokerage commissions. Purchaser is responsible for Purchaser’s legal costs and all other closing costs.
4. Provide the name of the firm(s)/attorney(s) that will act as legal counsel for the Purchaser.
5. Provide the Purchaser’s source of equity that will be used to make the acquisition.
6. Provide the Purchaser’s relevant history and experience acquiring zero cash flow assets.
Please contact us with any questions or comments.
Representative Photo 23
Representative Photo
3350 Riverwood Parkway, Suite 700Atlanta, GA 30339
thenetleasegroup.com
Philip WickstromManaging Principal404.551.2226pwickstrom@thenetleasegroup.com
Esmael HillManaging Principal404.551.2068ehill@thenetleasegroup.com
Evan MortonAnalyst404.551.2007emorton@thenetleasegroup.com
EXCLUSIVELY MARKETED BY
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