E X C L U S I V E L Y L I S T E D I N V E S T M E N T O F F E R I N G
Exclusively Listed By
Pharma Property Group | 5328 Banks Street, Suite B | San Diego, CA 92110 | 619.297.0055 | www.pharmapropertygroup.com
1011 BLOOMINGDALE AVENUE | VALRICO (TAMPA), FL 33596
TAMPA, FLORIDA INVESTMENT OPPORTUNITY
BELL SHOALS ROAD - ±26,000 VEHICLES PER DAY
BLOOMINGDALE AVENUE -±50,000 CARS PER DAY
JASON STUART PONGSRIKULManaging Principal
CA DRE Lic. 01918332Direct: 619-297-0055 x302
KEN MANTOVANIBroker of Record
FL DRE Lic. BK3043262Direct: 561-840-6789
page 2Jason Stuart PongsrikulManaging Principal, Pharma Property Group
Direct: [email protected]
1011 BLOOMINGDALE AVENUEVALRICO (TAMPA), FL 33596
Property Overview
Investment Highlights
Year Built: 1997Lot Size: 87,120 Square FeetBuilding Size: 15,930 Square Feet
1011 BLOOMINGDALE AVENUEVALRICO, FL 33596
STABLE INCOMERental income is guaranteed by Walgreens parent corporate (S&P BBB) investment grade, Fortune 500 Company, with over 8,000 locations.
COMMITMENT TO LOCATIONWalgreens recently renewed its first five year option showing commitment to this location. The store has solid reported sales and has been a strong performing Walgreens store for 20 years.
LEASE TERM REMAININGLease has five years remaining with seven (5 year) options to follow on a double net lease with Landlord responsible for roof and structure.
INFILL FLORIDA REAL ESTATEExceptional infill Florida real estate, located just 16 miles east of downtown Tampa, and one hour west of Orlando. Located on an intersection with traffic counts exceeding 70,000 cars per day and a one mile radius average income of $86,209.
INTERSECTION TRAFFIC EXCEEDS 70,000 VEHICLES PER DAYSubject property is located on the northeast corner of Bloomingdale Avenue (±50,000 vehicles per day) and Bell Shoals Road (±26,000 vehicles per day). This corner is highly traveled as it is the main artery for residents in the east traveling to Interstate 75 and Highway 301.
STRATEGIC CORNERProperty is located directly across the street from CVS, making this a strategic location for both CVS and Walgreens.
EXCEPTIONAL RETAIL BLOCKProperty is located on the main retail corridor of Valrico adjacent to Bloomingdale Square. This block houses over 560,000 square feet of retail space with national tenants such as Publix Super Market, Beall's Department Store, Payless ShoeSource, Dollar Tree, Ace Hardware, McDonald's, and more.
BLOOMINGDALE AVENUE -±50,000 CARS PER DAY
SUBJECT PROPERTY
BELL SHOALS ROAD - ±26,000 VEHICLES PER DAY
page 3Jason Stuart PongsrikulManaging Principal, Pharma Property Group
Direct: [email protected]
1011 BLOOMINGDALE AVENUEVALRICO (TAMPA), FL 33596
Property Overview
BELL
SHOA
LS RO
AD - ±
26,00
0 VEH
ICLE
S PER
DAY
BLOOMINGDALE AVENUE -±50,000 CARS PER DAY
SUBJECT PROPERTY
page 4Jason Stuart PongsrikulManaging Principal, Pharma Property Group
Direct: [email protected]
1011 BLOOMINGDALE AVENUEVALRICO (TAMPA), FL 33596
Lease OverviewTenant:WALGREENS (NYSE: WAG)
Landlord Income: CORPORATE GUARANTEE
Credit Rating: INVESTMENT GRADE, BBB (S&P)
Lease Type: DOUBLE NET Landlord responsible for roof and structure.
Lease Term: 5 YEARS REMAINING WITH SEVEN (5 YEAR) OPTIONS TO FOLLOW
Next Option Begins: MAY 1, 2022
Pricing
Building
Price: $3,490,196
CAP: 7.65% CAP
Price/Square Foot: $219.09
Monthly Income: $22,250
Annual Income: $267,000
Building Square Footage: 15,930
Land Square Footage: 87,120
Rent/Square Foot: $16.76
Year Built: 1997
Location Overview
Valrico is a suburb of Tampa, located
in Hillsborogh County, Florida, just
one hour southwest of Orlando. It is
located on the west coast of Florida on Tampa
Bay, near the Gulf of Mexico and is part of the
Tampa Bay Metropolitan Area. Tampa is one
of the largest cities in the Tampa Bay Area,
which is estimated to have a population of
approximately 4,310,524 residents.
VALRICO (TAMPA), FLORIDA
SUBJECT PROPERTY
page 5Jason Stuart PongsrikulManaging Principal, Pharma Property Group
Direct: [email protected]
1011 BLOOMINGDALE AVENUEVALRICO (TAMPA), FL 33596
Retail Corridor
AREA DESCRIPTION
The subject property is located in a suburb fourteen miles east of downtown Tampa, and four miles east of Interstate 75. The property is surrounded by residential development with over 3,400 households with a total population of 9,580 and a median income of $86,209 within a one mile radius.
This property is located on the main retail corridor of Valrico adjacent to Bloomingdale Square, a 437,594 square foot shopping center anchored by Publix Super Market, and other tenants such as Beall's Department Store, Payless ShoeSource, Dollar Tree, Ace Hardware, McDonald's, Bank of America, Dunkin Donuts, Wells Fargo Bank, and Advance Auto Parts.
SUBJECT PROPERTY
BLOOMINGDALE AVENUE - ±50,000 CARS PER DAY
page 6Jason Stuart PongsrikulManaging Principal, Pharma Property Group
Direct: [email protected]
1011 BLOOMINGDALE AVENUEVALRICO (TAMPA), FL 33596
Property Photos
NORTH PARKING AREA
WEST SIDE OF BUILDING WITH DRIVE-THRU
page 7Jason Stuart PongsrikulManaging Principal, Pharma Property Group
Direct: [email protected]
1011 BLOOMINGDALE AVENUEVALRICO (TAMPA), FL 33596
Property Photos
SUBJECT PROPERTY
SUBJECT PROPERTY
BELL SHOALS ROAD - ±26,000 VEHICLES PER DAY
BLOOMINGDALE AVENUE -±50,000 CARS PER DAY
BLOOMINGDALE AVENUE -±50,000 CARS PER DAYBE
LL SH
OALS
ROAD
- ±26
,000 V
EHIC
LES PE
R DAY
page 8Jason Stuart PongsrikulManaging Principal, Pharma Property Group
Direct: [email protected]
1011 BLOOMINGDALE AVENUEVALRICO (TAMPA), FL 33596
Company Summary*
Tenant HistoryWalgreens, headquarted in Deerfield, IL, is the largest drug retailing chain in the United States with more than 8,175 stores in all 50 states, the Disctrct of Columbia, Puerto Rico, and the U.S. Virgin Islands. Walgreens built out its national platform through its corporate real estate department heavily during the 1990’s continuing through the mid 2000’s. By 2012, Walgreens had opened its 8,000th store and later that year the company made a bold move by purchasing a 45% interest in Alliance Boots, a leading international pharmacy-led health and beauty group. Two years later, Walgreens exercised its option to purchase the remaining 55% of the Switzerland based Alliance Boots to merge and create a new holding company named Walgreens Boots Alliance(NASDAQ: WBA). This transaction brought together two leading companies with iconic brands, complementary geographic footprints, shared values and a heritage of trusted healthcare services through pharmaceutical wholesaling and community pharmacy care, dating back more than 100 years. Today, Walgreens is part of the Retail Pharmacy USA division of Walgreens Boots Alliance. The company sells prescription and non-prescription drugs and general merchandise including household products, convenience and fresh foods, personal care, beauty care, photo finishing, as well as home medical equipment, contact lenses, vitamins, supplements and other health and wellness solutions. Walgreens also provides specialty pharmacy services for managing complex and chronic health conditions. In addition to these in-store offerings, the company operates digital businesses that include Walgreens.com, Drugstore.com, Beauty.com, SkinStore.com, and VisionDirect.com.*Walgreens company information received from Walgreens investor relations.
tenant profileGuarantor: Walgreens Boots Alliance, Inc.Ownership: PublicStock Symbol (NASDAQ): WBACredit Rating (S&P): BBBBusiness: Retail PharmacyLocations: 8,175Annual Revenue: $117.35 BillionNet Worth: $29.88 BillionHeadquartrs: Deerfield, ILWebsite: www.walgreens.com
On Oct 27, 2015, Walgreens Boots Alliance entered into a merger agreement with Rite Aid Corporation (NYSE: RAD). The transaction is expected to close sometime in mid-2017, but is subject to Rite Aid stockholder approval, regulatory approvals and other customary closing conditions.
page 9Jason Stuart PongsrikulManaging Principal, Pharma Property Group
Direct: [email protected]
1011 BLOOMINGDALE AVENUEVALRICO (TAMPA), FL 33596
Locations by State
WA135
OR76
CA633
NV82
ID39
MT13
WY10
UT48
AZ244 NM
72
CO159
ND1
SD14
NE57
KS69
OK114
TX713 LA
158
AR81
MO212
IA70
MN152
IL598
MS76
AL113
FL831
US VIRGIN ISLANDS1
PR120
GA203
SC114
NC268
VA140
DC8
MD85
DE64
NJ197
CT92
RI25
MA163
VT3
NH31
WV16
PA123
NY469
ME14
AK12
HI20
TN252
KY95
OH247
WI225
IN190
MI228
Alabama 113 Idaho 39 Mississippi 76 Oklahoma 114 West Virginia 16
Alaska 12 Illinois 598 Missouri 212 Oregon 76 Wisconsin 225
Arizona 244 Indiana 190 Montana 13 Pennsylvania 123 Wyoming 10
Arkansas 81 Iowa 70 Nebraska 57 Rhode Island 25 Puerto Rico 120
California 633 Kansas 69 Nevada 82 South Carolina 114 US Virgin Islands 1
Colorado 159 Kentucky 95 New Hampshire 31 South Dakota 14
Connecticut 92 Louisiana 158 New Jersey 197 Tennessee 252
Delaware 64 Maine 14 New Mexico 72 Texas 713
Washington DC 8 Maryland 85 New York 469 Utah 48
Florida 831 Massachusetts 163 North Carolina 268 Vermont 3
Georgia 203 Michigan 228 North Dakota 1 Virginia 140
Hawaii 20 Minnesota 152 Ohio 247 Washington 135
page 10Jason Stuart PongsrikulManaging Principal, Pharma Property Group
Direct: [email protected]
1011 BLOOMINGDALE AVENUEVALRICO (TAMPA), FL 33596
Demographic Snapshot | Estimated 2017
Disclaimer: This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage, age, distances, lot size, store opening dates, demographic information, aerial information, tenant information & store operating information are approximate.
Buyer and their representatives understands that Walgreens tenant information was gathered by sources deemed to be reliable including Walgreens public quarterly and annual reports. Demographic information was provided by Nielsen Information Systems.
By accepting this package, buyer and their representatives must verify the information and bears all risk for any inaccuracies. © 2016 Pharma Property Group.
39.80
39.20
37.50
3 Mile
s
1 Mile
5 Mile
s
Average Age9,5
80
77,772
200,
953
5 Mile
s
3 Mile
s
1 Mile
Total Population
3,499
28,24
4
74,94
55 M
iles
3 Mile
s
1 Mile
Total Households
$86,2
09
$89,2
11
$82,1
10
3 Mile
s
1 Mile
5 Mile
s
Average Household Inc
page 11Jason Stuart PongsrikulManaging Principal, Pharma Property Group
Direct: [email protected]
1011 BLOOMINGDALE AVENUEVALRICO (TAMPA), FL 33596
Investment Property Recap
Lease Overview
PricingPrice: $3,490,196
Total Monthly Income: $22,250
Total Annual Income: $267,000
Tenant:Walgreens (NYSE: WAG)
Landlord Income: Corporate Guarantee
Credit Rating: Investment Grade, BBB (S&P)
Lease Type: Double NET LeaseLandlord responsible for roof and structure.
Lease Term: Five years remaining with seven (five year) options to follow
Next Option Begins: May 1, 2022
Year Built: 1997Total Lot Size: 87,120 Square FeetTotal Building Size: 15,930 Square Feet
1011 BLOOMINGDALE AVENUEVALRICO, FL 33596
Cap Rate: 7.65%
5328 Banks Street, Suite BSan Diego, CA 92110P 619.297.0055F 619.839.0828
www.pharmapropertygroup.com
E X C L U S I V E L Y L I S T E D I N V E S T M E N T O F F E R I N G
1011 BLOOMINGDALE AVENUEVALRICO, FL 33596
Jason Stuart PongsrikulManaging Principal
Direct: 619.297.0055 [email protected]
CA DRE Lic. #01918332
Listed in Association withKen Mantovani
Broker of RecordDirect: 561.840.6789
[email protected] DRE Lic. BK3043262