$6,439,000walgreens pharmacy #7308 san antonio, texas • true nnn lease with ~10 years guaranteed...

Walgreens Pharmacy #7308 San Antonio, Texas

• True NNN lease with ~10 years guaranteed rent

• Dense population with ~ 103,269 residents within three miles of store

• True hard corner location in front of a Walmart Supercenter

• High growth area (second only to Austin)

• Senior living community and senior center nearby (15% of one mile residents are age 65 or older)

• Hightrafficcornersees63,430carsperdayatintersection

• 5 year option structure

$6,439,000

6.15%CAP Rate

DeerfieldPartnersJohn GiordaniArtGriffith(888) [email protected]

2%DoubleCommissiontoBuyer’sBroker!


DeerfieldPartnersJohn GiordaniArt GriffithCall: (888) 258-7605Email: [email protected]

This prototypical freestanding Walgreens with drive-thru sits on the true hard corner in front of a Walmart Supercenter. The high traffic corner sees 63,430 vehicles per day at this intersection.San Antonio’spopulationincreasedby10%since2011.ThatgrowthrateissecondtoAustin(16.1%),butoutpacesthatofHouston(7.2%)andDallas(6.8%)overthesametimeperiod.

ThisWalgreenslocationbenefitsfromaSeniorLivingCommunityandaSeniorCenternearby,aswellasalocalpediatricspracticeacrossthestreet.15% of the one mile population is age 65 or older.

Investment Summary

1 Mile 3Mile 5 Mile

Population 12,954 103,269 259,863Avg. HH Income $62,693 $70,717 $74,958

Price $6,439,000CAP Rate 6.15%

Annual Income $396,000Years Guaranteed ~ 10 years



PropertyDetailsandLeaseSummaryAddress 4351ThousandOaksDr.,SanAntonio,TX78217

Year Built 2003Building Size 12,410SquareFeet

Lot Size 1.31acresTenant Walgreens(NASDAQ:WBA)

Rent Start Date September3,2003Lease End Date September30,2078

Termination Options Tenantmayterminateeveryfive(5)yearsasof9/30/2028,withatleasttwelve(12)monthspriorwrittennotice.

Prototypical Storefront



RegionalMap/AboutSanAntonioSanAntonio is the seventhmostpopulouscity in thecountry and the secondmostpopulouscity inTexas,with a populationof1,409,019.Itwasthefastestgrowingofthetop10largestcitiesinthecountryfrom2000to2010, and the secondfrom1990to2000.SanAntonioisabout75milestothesouthwestofitsneighboringcity,Austin,thestatecapital.Thecityisalsoabout190mileswestofHoustonandabout250milessouthoftheDallas/FortWortharea.

TheUSarmedforceshavenumerousfacilitieshere:FortSamHouston,LacklandAirForceBase,RandolphAirForceBase,andLacklandAFB/KellyFieldAnnex,withCampBullisandCampStanleylocatedjustoutsidethecity.San Antonio is home tosixFortune500companiesandtheSouthTexasMedicalCenter,theonlymedicalresearchandcareproviderintheSouth Texas region.

SanAntoniohasadiversifiedeconomywithanapproximately$96.8billionmetropolitanGDP,ranking4thamongTexasmetropolitanareasand38thintheUnitedStates.SanAntonio’seconomyisfocusedprimarilywithinmilitary,healthcare,governmentcivilservice,financialservices,oilandgasandtourismsectors.Withinthepasttwentyyears,SanAntoniohasbecomeasignificant location forAmerican-basedcall centersandhasaddedasignificantmanufacturingsectorcenteredaroundautomobiles.

Overtwentymilliontouristsvisitthecityanditsattractionseveryyear,contributingsubstantiallytothecity’seconomy,primarilyduetoTheAlamoandRiverwalk.Tourismemploys94,000citizensandmakesaneconomic impactofover$10.7billioninthelocaleconomy.

San Antonio is the seventh most populous city in the U.S. and the second most populous city in the State of Texas, with a population of 1,436,697. The city serves as the seat of Bexar County and is the center of the San Antonio-New Braunfels Metropolitan Statistical Area. The metropolitan area, commonly referred to as Greater San Antonio, has a population of over 2.38 million based on 2015 estimates. San Antonio has a diversified economy with about a $96.8 billion metropolitan Gross Domestic Product. This ranks the city fourth among Texas metropolitan areas and 38th in the United States. San Antonio’s economy is focused primarily within military, health care, government civil service, financial services, oil and gas, and tourism sectors. Within the past twenty years, San Antonio has become a significant location for American-based call centers and has added a significant automobile manufacturing sector. San Antonio is home to six Fortune 500 companies: Valero Energy Corp, Tesoro Corp, USAA, Clear Channel Communications, NuStar Energy and CST Brands, Inc. H-E-B, the 14th largest private company in the United States, is also headquartered in San Antonio. Other companies headquartered in San Antonio include Bill Miller Bar-B-Q Enterprises, Carenet Healthcare Services, Eye Care Centers of America, Frost Bank, Harte-Hanks, Kinetic Concepts, NewTek, Rackspace, Taco Cabana, and Whataburger. Other large companies that operate regional headquarters in the city include Nationwide Mutual Insurance Company, Kohl’s, Allstate, Chase Bank, Philips, Wells Fargo, Toyota, Medtronic, Sysco, Caterpillar Inc., AT&T, West Corporation, Citigroup, Boeing, QVC, and Lockheed Martin.

» The city is home to one of the largest concentrations of military bases in the United States, and has become known as “Military City, USA.” The city is home to several active military installations: Lackland Air Force Base, Brooke Army Medical Center, Randolph Air Force Base, and Fort Sam Houston. Lackland Air Force Base is the only location for basic training in the Air Force; over 35,000 new recruits go through basic training at Lackland Air Force Base each year. The defense industry in San Antonio employs over 89,000 and provides a $5.25 billion impact to the city’s economy.

» San Antonio is a popular tourist destination; over twenty million tourists visit the city and its attractions every year, contributing substantially to the city’s economy, primarily due to the Alamo and the River Walk. The Alamo is Texas’ top tourist attraction and one of the most popular historic sites in the U.S. SeaWorld, San Antonio’s third most popular attraction, is located roughly six miles from the subject property, and draws over 2.6 million visitors a year.

» San Antonio hosts over 100,000 students across its 31 higher-education facilities which include the University of Texas at San Antonio, Texas A&M University-San Antonio, and the Alamo Community College District’s five colleges.

» From 2000-2010, San Antonio was the fastest growing of the top 10 largest cities in the United States and the second fastest growing from 1990-2000.

» In 2015, San Antonio ranked No. 50 on Forbes’ list of the Best Places for Business and Careers, with a ranking of

9th best market for job growth.

MAJOR EMPLOYERS IN SAN ANTONIO, TX # OF EMPLOYEES

LACKLAND AIR FORCE BASE 37,097FORT SAM HOUSTON-U.S. ARMY 32,000H-E-B 20,000USAA 17,000NORTHSIDE ISD 12,751RANDOLPH AIR FORCE BASE 11,068NORTH EAST I.S.D. 10,052CITY OF SAN ANTONIO 9,145METHODIST HEALTHCARE SYSTEM 8,118SAN ANTONIO I.S.D. 7,000BAPTIST HEALTH SYSTEM 6,498JP MORGAN CHASE 5,200WELLS FARGO 5,153ATT 4,200BILL MILLER BBQ 3,540CHRISTUS SANTA ROSA HEALTH CARE 3,360CPS ENERGY 3,022

AREA OVERVIEW



Site Plan



AboutWalgreensBootsAllianceWalgreens Boots Alliance (Nasdaq: WBA) is the first global pharmacy-led, health and wellbeing enterprise. The Company’s heritage of trusted healthcare services through community pharmacy care and pharmaceutical wholesaling dates back more than 100 years.

Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the U.S. and Europe. Walgreens Boots Alliance and the companies in which it has equity method investments together have a presence in more than 25* countries and employ more than 385,000* people. The Company is a global leader in pharmacy-led, health and wellbeing retail and, together with the companies in which it has equity method investments, has more than 13,200* stores in 11* countries as well as one of the largest global pharmaceutical wholesale and distribution networks, with more than 390* distribution centers delivering to more than 230,000** pharmacies, doctors, health centers and hospitals each year in more than 20* countries. In addition, Walgreens Boots Alliance is one of the world’s largest purchasers of prescription drugs and many other health and wellbeing products. The Company’s size, scale, and expertise will help us to expand the supply of, and address the rising cost of, prescription drugs in the U.S. and worldwide.

Walgreens Boots Alliance is included in Fortune magazine’s 2018 list of the World’s Most Admired Companies. This is the 25th consecutive year that Walgreens Boots Alliance or its predecessor company, Walgreen Co., has been named to the list.

* As of 31 August 2017, using publicly available information for AmerisourceBergen.**For 12 months ending 31 August 2017, using publicly available information for AmerisourceBergen.



Walgreens Income Statements Trailing 5 Years



WalgreensBootsAlliance--SegmentStructure

8

Walgreens Boots Alliance – Segment Structure

The largest retail pharmacy chain in Europe

A leading global pharmaceutical wholesaler

and distributor

A leading drugstore chain in the USA

The first global pharmacy-led, health and wellbeing enterprise in the world



WalgreensBootsAlliance--RetailPharmacyUSADivisionOur Retail Pharmacy USA Division’s principal retail pharmacy brands are Walgreens and Duane Reade. Together, they form one of the largest drugstore chains in the U.S., operating 8,100* drugstores in 50* states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. As of August 2017, approximately 76 percent of the population of the U.S. lives within five miles of a Walgreens or Duane Reade.

We sell prescription and non-prescription drugs, as well as general merchandise, including household items, convenience and fresh foods, personal care, beauty care, photofinishing and candy. We offer our products and services through drugstores, as well as through mail, telephone and online. We also provide specialty pharmacy and respiratory services, and operate retail clinics.

Our services help improve health outcomes for patients and manage costs for payers including employers, managed care organizations, health systems, pharmacy benefit managers and the public sector. Our stores sell branded and own brand general merchandise. In addition, Walgreens has approximately 400 in-store clinic locations throughout the U.S., some of which are operated by the Company and some of which are operated by health system partners.

Prescription drugs account for 69 percent† of sales, while retail products are 31 percent.

Overall, we filled approximately 764 million† prescriptions in fiscal 2017. Adjusted to 30-day equivalents, we filled approximately 990 million† prescriptions in fiscal 2017. Third party sales, where reimbursement is received from managed care organizations, government and private insurance, were approximately 98 percent† of prescription sales.

We utilize our extensive retail network as a channel to provide affordable quality health and wellness services to our customers and patients, as illustrated by our ability to play a significant role in providing flu vaccines and other immunizations.

We have more than 78,000* healthcare service providers, including pharmacists, pharmacy technicians, nurse practitioners and other health related professionals. Through them we expect to continue to play a growing role in government and employer efforts to control escalating healthcare costs.

Our loyalty program, Balance® Rewards, is designed to reward our most valuable customers and encourage shopping in stores and online and allows customers the opportunity to earn points for purchasing select merchandise in addition to receiving special pricing on select products when shopping with a rewards card. Customers have the ability to instantly redeem rewards at our stores or through Walgreens.com. We had 88 million Balance® Rewards active members as of August 2017.

The Division’s strategy is designed to further transform our traditional drugstore by offering ultimate convenience, driving the best customer loyalty and delivering extraordinary customer and patient care. We seek to expand our product and service offerings across new channels and markets where, in addition to our stores, customers and patients can utilize our health system pharmacies, Walgreens.com, mobile applications and social media sites.



WalgreensDrugstoresNationwidebyState



Demographics-1MileRadius

Demographic and Income Profile4351 Thousand Oaks Dr, San Antonio, Texas, 78217 2 Prepared by Esri4351 Thousand Oaks Dr, San Antonio, Texas, 78217 Latitude: 29.55078Ring: 1 mile radius Longitude: -98.40779

AreaStateUSA

Trends 2017-2022Trends 2017-2022

Ann

ual R

ate

(in

perc

ent)

2.22

1.81.61.41.2

10.80.60.40.2

0Population Households Families Owner HHs Median HH Income

20172022

Population by AgePopulation by Age

Perc

ent

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

2017 Household Income 2017 Household Income

<$15K7.4%

$15K - $24K11.6%

$25K - $34K11.2%

$35K - $49K18.8%

$50K - $74K20.8%

$75K - $99K14.2%

$100K - $149K12.4%

$150K - $199K2.1%

$200K+1.3%

2017 Population by Race2017 Population by Race

Perc

ent

65605550454035302520151050

White Black Am. Ind. Asian Pacific Other Two+

2017 Percent Hispanic Origin: 51.4%

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022.

June 04, 2018

©2018 Esri Page 2 of 6



Demographics-1MileRadiusDemographic and Income Profile4351 Thousand Oaks Dr, San Antonio, Texas, 78217 2 Prepared by Esri4351 Thousand Oaks Dr, San Antonio, Texas, 78217 Latitude: 29.55078Ring: 1 mile radius Longitude: -98.40779

Summary Census 2010 2017 2022Population 12,302 12,954 13,519Households 5,058 5,258 5,473Families 3,066 3,147 3,251Average Household Size 2.43 2.46 2.47Owner Occupied Housing Units 2,498 2,423 2,542Renter Occupied Housing Units 2,560 2,836 2,931Median Age 34.9 36.0 36.5

Trends: 2017 - 2022 Annual Rate Area State NationalPopulation 0.86% 1.67% 0.83%Households 0.80% 1.63% 0.79%Families 0.65% 1.58% 0.71%Owner HHs 0.96% 1.58% 0.72%Median Household Income 1.47% 2.23% 2.12%

2017 2022 Households by Income Number Percent Number Percent

<$15,000 390 7.4% 407 7.4%$15,000 - $24,999 609 11.6% 588 10.7%$25,000 - $34,999 589 11.2% 538 9.8%$35,000 - $49,999 991 18.8% 927 16.9%$50,000 - $74,999 1,095 20.8% 1,085 19.8%$75,000 - $99,999 749 14.2% 865 15.8%$100,000 - $149,999 653 12.4% 832 15.2%$150,000 - $199,999 113 2.1% 144 2.6%$200,000+ 70 1.3% 87 1.6%

Median Household Income $50,740 $54,568Average Household Income $62,693 $70,356Per Capita Income $25,277 $28,285

Census 2010 2017 2022 Population by Age Number Percent Number Percent Number Percent

0 - 4 942 7.7% 920 7.1% 956 7.1%5 - 9 883 7.2% 892 6.9% 917 6.8%10 - 14 782 6.4% 865 6.7% 919 6.8%15 - 19 767 6.2% 777 6.0% 856 6.3%20 - 24 855 6.9% 838 6.5% 851 6.3%25 - 34 1,940 15.8% 2,004 15.5% 1,965 14.5%35 - 44 1,605 13.0% 1,746 13.5% 1,904 14.1%45 - 54 1,583 12.9% 1,508 11.6% 1,557 11.5%55 - 64 1,326 10.8% 1,454 11.2% 1,451 10.7%65 - 74 874 7.1% 1,115 8.6% 1,198 8.9%75 - 84 515 4.2% 576 4.4% 690 5.1%

85+ 231 1.9% 258 2.0% 254 1.9%Census 2010 2017 2022

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 8,732 71.0% 8,897 68.7% 9,157 67.7%Black Alone 1,302 10.6% 1,444 11.1% 1,558 11.5%American Indian Alone 91 0.7% 99 0.8% 105 0.8%Asian Alone 195 1.6% 245 1.9% 294 2.2%Pacific Islander Alone 19 0.2% 23 0.2% 26 0.2%Some Other Race Alone 1,460 11.9% 1,671 12.9% 1,755 13.0%Two or More Races 503 4.1% 575 4.4% 624 4.6%

Hispanic Origin (Any Race) 5,938 48.3% 6,653 51.4% 7,209 53.3%Data Note: Income is expressed in current dollars.


June 04, 2018






AreaStateUSA

Trends 2017-2022Trends 2017-2022

Ann

ual R

ate

(in

perc

ent)

2.22

1.81.61.41.2

10.80.60.40.2


20172022


Perc

ent

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+


<$15K8.4%

$15K - $24K9.2%

$25K - $34K10.0%

$35K - $49K15.1%

$50K - $74K21.9%

$75K - $99K14.6%

$100K - $149K14.1%

$150K - $199K4.1%

$200K+2.6%


Perc

ent

7065605550454035302520151050




June 04, 2018








<$15,000 3,388 8.4% 3,570 8.5%$15,000 - $24,999 3,707 9.2% 3,627 8.6%$25,000 - $34,999 4,047 10.0% 3,757 8.9%$35,000 - $49,999 6,094 15.1% 5,732 13.6%$50,000 - $74,999 8,845 21.9% 8,690 20.6%$75,000 - $99,999 5,878 14.6% 6,562 15.6%$100,000 - $149,999 5,705 14.1% 6,895 16.4%$150,000 - $199,999 1,663 4.1% 2,023 4.8%$200,000+ 1,046 2.6% 1,279 3.0%



0 - 4 6,876 7.0% 6,694 6.5% 6,990 6.5%5 - 9 6,723 6.9% 6,808 6.6% 6,871 6.4%10 - 14 6,821 7.0% 6,705 6.5% 7,064 6.5%15 - 19 6,570 6.7% 6,227 6.0% 6,488 6.0%20 - 24 6,368 6.5% 6,726 6.5% 6,454 6.0%25 - 34 14,504 14.8% 15,596 15.1% 16,031 14.8%35 - 44 13,442 13.7% 13,740 13.3% 15,025 13.9%45 - 54 14,219 14.5% 13,319 12.9% 12,867 11.9%55 - 64 11,037 11.3% 12,596 12.2% 12,887 11.9%65 - 74 6,215 6.4% 8,821 8.5% 10,088 9.3%75 - 84 3,664 3.7% 4,275 4.1% 5,308 4.9%

85+ 1,387 1.4% 1,763 1.7% 1,897 1.8%Census 2010 2017 2022

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 72,112 73.7% 73,513 71.2% 75,508 69.9%Black Alone 9,179 9.4% 10,423 10.1% 11,391 10.6%American Indian Alone 735 0.8% 800 0.8% 851 0.8%Asian Alone 2,357 2.4% 2,989 2.9% 3,589 3.3%Pacific Islander Alone 209 0.2% 264 0.3% 299 0.3%Some Other Race Alone 9,423 9.6% 10,813 10.5% 11,402 10.6%Two or More Races 3,808 3.9% 4,466 4.3% 4,927 4.6%



June 04, 2018






AreaStateUSA

Trends 2017-2022Trends 2017-2022

Ann

ual R

ate

(in

perc

ent)

2.22

1.81.61.41.2

10.80.60.40.2


20172022


Perc

ent

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+


<$15K8.8%

$15K - $24K8.8%

$25K - $34K9.5%$35K - $49K

14.5%

$50K - $74K21.1%

$75K - $99K14.2%

$100K - $149K14.8%

$150K - $199K4.8%

$200K+3.6%


Perc

ent

7065605550454035302520151050




June 04, 2018








<$15,000 8,826 8.8% 9,384 8.8%$15,000 - $24,999 8,827 8.8% 8,678 8.2%$25,000 - $34,999 9,605 9.5% 8,991 8.5%$35,000 - $49,999 14,610 14.5% 13,858 13.0%$50,000 - $74,999 21,249 21.1% 21,124 19.9%$75,000 - $99,999 14,308 14.2% 16,158 15.2%$100,000 - $149,999 14,882 14.8% 18,155 17.1%$150,000 - $199,999 4,791 4.8% 5,818 5.5%$200,000+ 3,581 3.6% 4,221 4.0%



0 - 4 16,412 6.8% 16,560 6.4% 17,600 6.4%5 - 9 16,517 6.9% 16,904 6.5% 17,444 6.3%10 - 14 16,894 7.0% 17,046 6.6% 18,017 6.5%15 - 19 16,240 6.8% 15,953 6.1% 16,687 6.1%20 - 24 15,591 6.5% 16,932 6.5% 16,484 6.0%25 - 34 34,540 14.4% 38,150 14.7% 40,441 14.7%35 - 44 32,528 13.6% 34,263 13.2% 37,868 13.8%45 - 54 34,368 14.3% 33,263 12.8% 32,559 11.8%55 - 64 27,878 11.6% 32,220 12.4% 32,793 11.9%65 - 74 15,643 6.5% 22,770 8.8% 26,319 9.6%75 - 84 9,356 3.9% 11,056 4.3% 13,943 5.1%

85+ 3,745 1.6% 4,747 1.8% 5,174 1.9%Census 2010 2017 2022

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 174,698 72.9% 182,527 70.2% 189,700 68.9%Black Alone 25,047 10.4% 29,243 11.3% 32,348 11.7%American Indian Alone 1,781 0.7% 1,994 0.8% 2,140 0.8%Asian Alone 6,585 2.7% 8,636 3.3% 10,534 3.8%Pacific Islander Alone 524 0.2% 687 0.3% 801 0.3%Some Other Race Alone 21,869 9.1% 25,612 9.9% 27,279 9.9%Two or More Races 9,207 3.8% 11,163 4.3% 12,526 4.5%



June 04, 2018


$6,439,000walgreens pharmacy #7308 san antonio, texas • true nnn lease with ~10 years guaranteed...

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