net lease cvs for sale

NET LEASED INVESTMENT OFFERING

www.bouldergroup.com

CVS2901 Morgan Road Southeast

Bessemer, AL 35022 (Birmingham MSA)



TABLE OF CONTENTS

TABLE OF CONTENTS

1) Confidentiality&Disclaimer

2) ExecutiveSummary

3) PropertyOverview

4) Aerial

5) SitePlan

6) Maps

7) TenantProfile

8) DemographicComparisonReport

9) LocationOverview

10) ContactInformation



TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.

CONFIDENTIALITY & DISCLAIMER

CONFIDENTITALITY & DISCLAIMER



TheBoulderGroupispleasedtoexclusivelymarketforsaleasingletenantnetleasedCVSpropertylocatedintheBirminghamMSA.The10,880squarefootCVSpropertywasbuiltin2003andfeaturesadrive-thru.Thereare6%rentalescalationseveryfiveyearsandineachofthesix5-yearrenewaloptionperiods.ThenextrentalescalationwilloccurinSeptember2018.ThisisaprovenlocationforCVSasevidencedbyastrongsaleshistorywithalowrenttosalesratio.

TheCVSpropertyispositionedatthesignalizedintersectionofMorganRoadSoutheastandParkwoodRoad.Thepropertyislocatedapproximately20milessouthwestfromdowntownBirmingham.ThepropertyisintheimmediatevicinitytoInterstate459,whichexperiencesdailytrafficvolumesinexcessof52,000vehicles.ACVSwarehousefacility is locatedacross Interstate459,demonstratingCVS’commitment to the immediatearea.AWinn-Dixieanchoredshoppingcenterislocatedacrossthestreetfromtheproperty.TherearemanynationalretailersintheimmediateareaincludingMcDonald’s,RegionsBank,DollarGeneral,Wendy’s,BritishPetroleum,Texaco,andTacoBell.Thepropertyislocatedwithinanaffluentarea,withtheaveragehouseholdincomesinexcessof$104,000withinthreemiles.

TheoriginalCVS leasetermwasfor20yearswithsix5-year renewaloptionsandthe leaseexpires inJanuary2024.Thereisa6%rentalescalationin2018andineachoftherenewaloptionperiods.CVSisapubliclytradedcompanyontheNewYorkStockExchange(CVS),withamarketcapitalizationof$79billion.CVSisaninvestmentgraderatedcompanywithaStandard&Poor’sratingofBBB+.

INVESTMENT HIGHLIGHTS

• LocatedwithintheBirminghamMSA

• InvestmentgradecompanywithanS&PRatingofBBB+

• Longtermleasewith10yearsremaining

• 6%rentalescalationin2018andineachoption

• Drive-thrulocation

• Averageannualhouseholdincomeswithinthreemilesare inexcessof$104,000

• ProvenlocationforCVSasevidencedbyastrongsales historywithalowrenttosalesratio

• Positionedonahardcornerofasignalizedintersection

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY



PROPERTY OVERVIEW

PROPERTY OVERVIEW

Price: $5,924,307

CapRate: 6.50%

RentSchedule: NOI EscalationDate

$385,080$408,185 9/22/2018$432,676 2/1/2024(Option1)$458,637 2/1/2029(Option2)$486,155 2/1/2034(Option3)$515,324 2/1/2039(Option4)$546,244 2/1/2044(Option5)$579,018 2/1/2049(Option6)

RenewalOptions: Six5-Year

LeaseCommencementDate: September22,2003

LeaseExpirationDate: January31,2024

Tenant: CVS

CreditRating: BBB+(S&P)

YearBuilt: 2003

LeaseType: NN(Roof,Structure&ParkingLotReplacement)

RentableSquareFeet: 10,880SF

LandSize: 1.9acres



AERIAL

AERIAL

N

DISTRIBUTION CENTER459

52,000 VPD



SITE PLAN

SITE PLAN

N

MO

RGAN

ROAD

PARKWOOD ROAD / COUNTY ROAD 6

DRIVETHRU



MAPS

MAPS



CVSisengagedintheretaildrugstorebusiness.TheCompanyoperates7,458locationsin45statesandPuertoRico. CVS is the nation’s second-largest drugstore chain and the third-largest pharmacy benefitsmanager.AsaretaildivisionofCVSCaremark,CVSretaillocationssellprescriptiondrugsandawidevarietyofgeneralmerchandiseincludingover-the-countermedication,beautyproductsandcosmetics,filmandphotofinishingservices, seasonalmerchandise and convenience foods. CVS also offers healthcare services through theirMinuteClinic locations,mostofwhichare locatedwithin their stores.CVS isheadquartered inWoonsocket,RhodeIslandandwasfoundedin1963.

Website: www.cvs.comStockSymbol: CVS:NYSEStandard&Poor’sRating: BBB+MarketCapitalization: $79billionNumberofLocations: 7,458Employees: 203,000

TENANT PROFILE

TENANT PROFILE



Population 3-mi 5-mi 7-mi

TotalPopulation 15,948 55,450 122,763TotalHouseholds 5,721 20,740 47,010

Income

MedianHouseholdIncome $80,437 $60,042 $58,311AverageHouseholdIncome $104,207 $83,725 $80,247

DEMOGRAPHIC COMPARISON REPORT

DEMOGRAPHIC COMPARISON REPORT



Bessemer,AlabamaisacitywithintheBirminghamMSAinJeffersonCounty.Thetownislocatedabout18milessouthwestofBirminghamand8mileswestofHoover.Accordingtothe2010census,thepopulationwas27,456.BessemerishometoUABMedicalWest,a300-bedhealthcarefacilitythathasbeenaroundforover34years.Thefacilityservedover67,000patientsinthepastyear.

www.bessemeral.org

BirminghamisthelargestcityinAlabamaandthecountyseatofJeffersonCounty.Accordingtothe2010Census,1,128,047peoplelivedintheBirmingham-HooverMSA,whichisapproximatelyonequarterofAlabama’spopulation.ThemetroareaisservedbyfourmajorInterstateHighways;Interstate20,Interstate65,Interstate59,andInterstate22.Interstate459connectsInterstate65 to Interstate20 in the southernpart of the region.Birmingham ranksasoneof themost

importantbusinesscentersintheSoutheasternUnitedStatesandisalsooneofthelargestbankingcentersintheUnitedStates.Regionsbankandfiveotherfortune1000companiesareheadquarteredinBirmingham.

www.informationbirmingham.com

LOCATION OVERVIEW

LOCATION OVERVIEW



666DundeeRoad,Suite1801Northbrook,IL60062

Randy [email protected]

Jimmy [email protected]

CONTACT INFORMATION

CONTACT INFORMATION

net lease cvs for sale

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