OFFERING MEMORANDUM 4206 NEW HOPE ROAD | ROGERS, … · 6 WALGREENS: ROGERS, ARKANSAS NKF | NET...
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WALGREENS OFFERING MEMORANDUM 4206 NEW HOPE ROAD | ROGERS, ARKANSAS ACTUAL SITE
Transcript of OFFERING MEMORANDUM 4206 NEW HOPE ROAD | ROGERS, … · 6 WALGREENS: ROGERS, ARKANSAS NKF | NET...
WALGREENSOFFERING MEMORANDUM
4206 NEW HOPE ROAD | ROGERS, ARKANSAS
ACTUAL SITE
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OFFERING MEMORANDUM
This Memorandum does not constitute a representation that the business or affairs of the Property or Seller since the date of preparation of this Memorandum have remained the same. Analysis and verification of the information contained in this Memorandum are solely the responsibility of the prospective purchaser.
Additional information and an opportunity to inspect the Property will be made available upon written request of interested and qualified prospective purchasers. Seller and Agent each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property, and/or terminate discussions with any party at any time with or without notice. Seller reserves the right to change the timing and procedures for the Offering process at any time in Seller’s sole discretion. Seller shall have no legal commitment or obligations to any party reviewing this Memorandum, or making an offer to purchase the Property, unless and until such offer is approved by Seller, and a written agreement for the purchase of the Property has been fully executed and delivered by Seller and the Purchaser thereunder.
This Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting this Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not forward, photocopy or duplicate it, that you will not disclose this Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of Seller or Agent, and that you will not use this Memorandum or any of the contents in any fashion or manner detrimental to the interest of Seller or Agent.
NET LEASE PRACTICE GROUPKEN HEDRICKExecutive Managing Director [email protected]
JERRY HOPKINSSenior Managing Director [email protected]
SUPPORT
D. ANDREW RAGSDALE, Esq.Senior Managing Director [email protected]
JEN BLADENSenior Marketing [email protected]
KEZIA BELFIELDAdministrative [email protected]
GARRETT HUIEFinancial [email protected]
DEBT & EQUITY FINANCEDUSTIN STOLLYVice Chairman, Co-Head New York Debt/Structured [email protected]
JORDAN ROESCHLAUBVice Chairman, Co-Head New York Debt/Structured [email protected]
WALGREENS4206 NEW HOPE ROAD | ROGERS, ARKANSAS 72758
CHRIS MOSESPrincipal, President & CEO Newmark Moses Tucker Partners [email protected] License #: SA00052521
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THE INVESTMENT
5 THE OFFERING
INVESTMENT HIGHLIGHTS
THE TENANT
7 TENANT/CREDIT OVERVIEW
8 LEASE ABSTRACT
RENT SCHEDULE
ROGERS, ARKANSAS
10 LOCATION OVERVIEW
12 DEMOGRAPHICS
REP SITE
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THE INVESTMENT
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THE OFFERINGNewmark Knight Frank Capital Markets Net Lease Practice Group (the “Agent”) has been engaged as the exclusive sales representative for the sale of 4206 W New Hope Road, Rogers, Arkansas (the ”Property”).
The Property is 100% leased to Walgreens Co. (Nasdaq: WBA) and is located within the heart of the Bentonville, Arkansas market.
INVESTMENT HIGHLIGHTS16 YEARS REMAINING OF PRIMARY LEASE TERMThe Subject Property provides investors with a highly stabilized, long term leased investment, within a high growth market.
STRONG NORTHWEST ARKANSAS LOCATIONThe Subject Property is located just 6 miles from Walmart’s Headquarter facility, and across the street from Pinnacle Hills Promenade (“NWA’s” premier shopping center).
STRATEGICALLY LOCATED ADJACENT TO MERCY HOSPITALThe subject property is located less than one mile from Mercy Hospital, the largest hospital in Northwest Arkansas.
EXCELLENT DEMOGRAPHICS The Subject Property benefits from tremendous population growth throughout Northwest Arkansas, including an estimated 28% growth within a 10 mile radius over the past eight years. Northwest Arkansas is forecasted to be within the top 100 largest MSA’s by 2019 and has been ranked within the top 5 best places to live for three consecutive years.
HIGHLY PASSIVE ABSOLUTE NNN LEASEThe Subject Property boasts a highly passive, absolute NNN lease, with no landlord responsibilities whatsoever.
NASDAQ: WBA (S&P: BBB STABLE)
16 YEARS REMAINING ON ABSOLUTE NNN LEASE
6 MILESFROM HEADQUARTERS
3.5% RETAIL VACANCY
28% POPULATION GROWTH
WITHIN 10 MILES (2010-2018)
PURCHASE PRICE $6,100,000CAP RATE
5.47%
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LEASE ABSTRACT TENANT OVERVIEWWalgreensProperty Address 4206 W New Hope Rd, Rogers, AR
Effective date October 17, 2008
Tenant Walgreen Co.
Rent Commencement Date Nov. 1, 2009
Lease Expiration Date Oct. 31, 2034
Remaining Primary Term 16 years
Original Primary Term 25 years
Renewal Options Fifty (50), One (1) year options
Lease Type Absolute NNN
Insurance Tenant pays directly
Taxes Tenant pays directly
Utilities Tenant pays directly
Rentable Building Area 14,820 square feet
Estoppel Within 30 days of request
ROFR Witihin 30 days of Bona Fide Offer
RENT SCHEDULE
INVESTMENT OVERVIEW
Years Annual Rent1-25 $335,000
26-75 (Annual Option Periods) $335,000
Walgreens | 4206 W New Hope Road | Rogers, Arkansas
Offering Price $6,100,000
Cap Rate 5.47%
Remaining Primary Term 16 years
Building SF 14,820 square feet
Acreage 2.03
Walgreens Boots Alliance, Inc. Walgreens Boots Alliance, Inc. is an American holding
company headquartered in Deerfield, Illinois that owns Walgreens, Boots and a number of
pharmaceutical manufacturing, wholesale and distribution companies. The company was
formed on December 31, 2014 after Walgreens purchased the 55% stake in Switzerland-
based Alliance Boots that it did not already own. The combined business has operations in
over 25 countries. Walgreens had formerly operated solely within the United States and its
territories, while Alliance Boots operated a more international business.
Walgreens is an American company which operates as the second-largest pharmacy store
chain in the United States behind CVS Health. It specializes in filling prescriptions, health
and wellness products, health information and photo services. The company operates,
approximately, 8,175 stores in all 50 states, the District of Columbia, Puerto Rico, and the
U.S. Virgin Islands. It was founded in Chicago, Illinois, in 1901. The Walgreens headquarters
office is in the Chicago suburb of Deerfield, Illinois.
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SUBJECT PROPERTY
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ROGERS, ARKANSAS
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LOCATION MAP
6 MILES TO BENTONVILLE
19 MILES TO FAYETTEVILLE
4206 NEW HOPE ROADROGERS, ARKANSAS
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6 MILES TO WALMART HOME OFFICE
30 MINUTES TO UNIVERSITY OF ARKANSAS
7 MILES TO J.B. HUNT
HEADQUARTERS
20 MINUTES TO TYSON FOODS HEADQUARTERS
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PINNACLE HILLS PROMENADE
CLUB PLAZA
PINNACLE HILLS
PROMENADE POINT
AERIAL MAP
CROSS CHURCH PINNACLE HILLS
CONVENTION CENTER
6 MILES NORTH
Walmart Home Office employs 14,000+ people.
SCOTTSDALE CENTER
73,000 VEHICLES PER DAY
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49is a 200 bed non-profit
hospital with a cardiac E.R. and both inpatient and outpatient care.
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ROGERS is located in Northwest Arkansas,
United States, one of the fastest growing metro
areas in the country. Rogers was the location
of the first Walmart store, whose corporate
headquarters is located in neighboring Bentonville. Rogers is a city
in the Ozarks in Benton County. Daisy Outdoor Products, known
for its air rifles, has both its headquarters and its Airgun Museum
in Rogers. As of the 2010 census, the city had a population of
55,964. In 2017 the estimated population was 66,430,[5] making
it the sixth-most populous city in the state. Rogers is part of
the Fayetteville-Springdale-Rogers Metropolitan Area, one of the
fastest growing in the nation.
DEMOGRAPHICSPopulation 1 Mile 3 Mile 5 Mile2010 population: 1,165 38,990 87,3722018 Total Population: 1,460 46,996 111,429
2023 Population: 1,641 52,600 125,544
Pop Growth 2018-2023: 12.40% 11.92% 12.67%
Average Age: 36.5 35.5 34.3
Households
2018 Total Households: 580 17,671 40,871
Household Growth 2018-2023: 12.59% 12.06% 12.82%
Median Household Inc: $83,606 $67,826 $66,001
Housing
Median Home Value: $297,972 $190,565 $185,351
Median Year Built: 2001 1996 1997
BENTONVILLE is centrally located Benton county, with
Rogers adjacent to the east. The city is the birthplace and world
headquarters of Walmart, the world’s largest retailer.
It is one of the four main cities in the four-county Northwest
Arkansas Metropolitan Statistical Area, which is ranked 109th in
terms of population in the United States with 463,204 residents in
2010, according to the United States Census Bureau.
The city itself had a population of 35,301 at the 2010 Census, with
an estimated population of 49,298 in 2017.
MAJOR EMPLOYERSEmployer Number of Employees
Walmart 18,000
J.B Hunt 3,000
Rogers Public Schools 2,100
Mercy Health System of NWA 1,800
Serco-NA 1,600
Tyson Chick-N-Quick Plant 1,200
Arvest - Lowell Operations Center 1,000
Crossland Construction 975
Walmart Claims Center 850
NWACC 850
Ozark Mountain Poultry 650
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WALGREENS4206 NEW HOPE ROAD | ROGERS, ARKANSAS
NET LEASE PRACTICE GROUPD. ANDREW RAGSDALE, Esq. Senior Managing Director918.878.9535 [email protected]
JERRY HOPKINSSenior Managing Director918.878.9536 [email protected]
KEN HEDRICKExecutive Managing Director918.878.9540 [email protected]
CHRIS MOSESPrincipal, President & CEO Newmark Moses Tucker Partners [email protected] RE Lic. #SA00052521
