| Date post: | 05-Dec-2014 |
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Real Estate |
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Randy Blankstein | President
847.562.0003
Jimmy Goodman |Partner
847.562.8500
www.bouldergroup.com
Walgreens
4755 West Broad Street
Columbus, Ohio
Representative Rendering
NET LEASED INVESTMENT OFFERING
Randy Blankstein | President
847.562.0003
Jimmy Goodman |Partner
847.562.8500
www.bouldergroup.com
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.
CONFIDENTIALITY & DISCLAIMER
NET LEASE OPPORTUNITY
Randy Blankstein | President
847.562.0003
Jimmy Goodman |Partner
847.562.8500
www.bouldergroup.com
WALGREENS - COLUMBUS, OH 4755 W Broad Street, Columbus, OH 43228
EXECUTIVE SUMMARY
Representative Rendering
WALGREENS - COLUMBUS, OH
The Boulder Group is pleased to exclusively market for sale a single tenant Walgreens property located in Columbus, Ohio. The 14,820
square foot property is positioned along Broad Street in Columbus. Broad Street is a heavily trafficked east-west thoroughfare with
traffic counts in excess of 38,000 vehicles per day and has a full interchange with Interstate 270 less than one-quarter mile from the
property. Broad Street is home to retailers such as Kohl’s, Target, Home Depot, Hobby Lobby and hhgregg. Directly across from the property
is a Giant Eagle and Jo-Ann Fabrics anchored shopping center. Doctor’s Hospital, a 213 bed facility, is located approximately a quarter mile to
the west of the property. Additionally, the recently completed $400 million Hollywood Casino is located approximately one mile from the
property. The building is situated on 2.05 acres and was built in 2009.
There are approximately twenty years remaining on this absolute net lease that expires February 29, 2034. Walgreens is a publicly traded
company (NYSE: WAG) with a market capitalization in excess of $70 billion and is an investment grade rated tenant (S&P: BBB). Walgreens
currently operates 8,600 locations in all 50 states, the District of Columbia, Puerto Rico, and Guam.
NET LEASE OPPORTUNITY
Randy Blankstein | President
847.562.0003
Jimmy Goodman |Partner
847.562.8500
www.bouldergroup.com
Price:
Cap Rate:
Credit:
Building Size:
Site Size:
Year Built:
$7,823,009
5.65%
Investment Grade (S&P: BBB)
14,820 SF
2.05 Acres
2009
Lease Start Date:
Lease Expiration:
Net Operating Income:
Renewal Options:
Rental Escalations:
Lease Type:
February 2, 2009
February 29, 2034
$442,000
50 Years
None
NNN
Representative Rendering
PROPERTY OVERVIEW
WALGREENS - COLUMBUS, OH
4755 W Broad Street, Columbus, OH 43228
NET LEASE OPPORTUNITY
Randy Blankstein | President
847.562.0003
Jimmy Goodman |Partner
847.562.8500
www.bouldergroup.com
PROPERTY HIGHLIGHTS
Located within the Columbus MSA
Long term lease with approximately 20 years remaining
Investment grade rated tenant (S&P: BBB)
Broad Street is a primary east-west thoroughfare with traffic
counts in excess of 38,000 vehicles per day and the property
is located approximately one-quarter mile from a full
interchange with Interstate 270
One mile from the recently completed $400 million Hollywood
Casino
One-quarter mile east of Doctor’s Hospital, a 213 bed facility
Over 200,000 people living within a five mile radius of the property
Located within a strong retail corridor near many national retailers
such as Target, Home Depot, Hobby Lobby, and Kohl’s
No landlord responsibilities
DEMOGRAPHICS
Population:
Total Households
Avg. Household Income:
1-MILE
14,514
5,748
$42,239
3-MILE
93,012
36,741
$52,034
5-MILE
203,281
79,735
$60,274
WALGREENS - COLUMBUS, OH
NET LEASE OPPORTUNITY
Randy Blankstein | President
847.562.0003
Jimmy Goodman |Partner
847.562.8500
www.bouldergroup.com
Aerial
WALGREENS - COLUMBUS, OH
NET LEASE OPPORTUNITY
Randy Blankstein | President
847.562.0003
Jimmy Goodman |Partner
847.562.8500
www.bouldergroup.com
TENANT OVERVIEW
Walgreens is engaged in retail drugstore business. The company operates 8,600 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 September 2013, Walgreens
announced that its acquisition of Kerr Drug and its 76 locations.
Walgreens is a publicly traded company (NYSE: WAG) with a market capitalization in excess of
$70 billion and is an investment grade rated tenant (S&P: BBB).
WALGREENS - COLUMBUS, OH
Website: www.walgreens.com
Number of Locations: 8,600
Stock Symbol: WAG : NYSE
Standard & Poor’s Rating: BBB
Market Capitalization: $70 billion
NET LEASE OPPORTUNITY
Randy Blankstein | President
847.562.0003
Jimmy Goodman |Partner
847.562.8500
www.bouldergroup.com
LOCATION OVERVIEW
Columbus is the largest city in the state of Ohio and the county seat of Franklin County. At the
time of the 2010 U.S. Census, Columbus had a population of 787,000, making it the most popu-
lous city in Ohio. Columbus has a diverse economy based on education, government, insurance,
banking and energy. Columbus is most notably home to The Ohio State University. The Ohio State
University is one of the world’s largest universities with a student population of over 64,000. Co-
lumbus has also emerged as a leader in the technology industry and is home to the world’s larg-
est private research and development foundation, Battelle Memorial Institute. In 2009, Busi-
nessWeek named Columbus the best place in the country to raise a family. Additionally, Columbus
was ranked as America’s 20th best city by Bloomberg BusinessWeek.
Columbus is home to five Fortune 500 corporations including Nationwide Mutual Insurance Com-
pany, American Electric Power, Limited Brands, Momentive Specialty Chemicals and Big Lots. Oth-
er major employers in Columbus include JP Morgan Chase, Huntington Bancshares and Wendy’s.
Columbus is most recognized as the home to The Ohio State University. Ohio State University is
one of the largest universities in the world with a student population of over 64,000 and over
27,000 employees.
www.cityofcolumbus.org
WALGREENS - COLUMBUS, OH
