Single tenant CVS for sale

www.bouldergroup.com

NET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERINGNET LEASED INVESTMENT OFFERING

CVSCVSCVSCVS 108 Park Road108 Park Road108 Park Road108 Park Road

Pleasant Grove, ALPleasant Grove, ALPleasant Grove, ALPleasant Grove, AL ((((BirminghamBirminghamBirminghamBirmingham MSA)MSA)MSA)MSA)

NET LEASED INVESTMENT OFFERING


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Confidentiality & Disclaimer

Executive Summary

Property Overview

Aerial

Site Plan

Map

Tenant Profile

Demographic Comparison Report

Location Overview

Contact Information

TABLE OF CONTENTS

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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

CONCONCONCONFIDENTIALITY & DISCLAIMERFIDENTIALITY & DISCLAIMERFIDENTIALITY & DISCLAIMERFIDENTIALITY & DISCLAIMER



The Boulder Group is pleased to exclusively market for sale a single tenant net leased CVS property located in the Birmingham MSA. The 10,125 square foot CVS property was built in 2000. The lease features a 5% rental escalation in the primary term as well as escalations in each of the four option periods. This is a proven location for CVS as the location has a strong sales history with a low rent to sales ratio. Store sales at this location have increased 9.5% from 2009-2011.

The property is located along Park Road and has multiple points of ingress and egress on both Park and Pleasant Grove Roads. The Arbors at Ellington, a 40 unit senior housing community is located less than one-quarter mile from the property. Additionally, U.S. Steel’s Fairfield Works and Fairfield Tubular Operations are located in close proximity to the property. Fairfield Works is comprised of both steelmaking and finishing facilities. The plan employs approximately 1,500 workers at the mill and creates 2.4 million tons of raw steel each year. The Fairfield Works plant has helped keep unemployment in the greater Birmingham area at 6.6%, below the United State average.

The original CVS lease term was for 20 years with four 5-year renewal options and the lease expires in May 2020. CVS is a publicly traded company on the New York Stock Exchange (CVS), with a market capitalization of $58 billion. CVS is an investment grade rated company with a Standard & Poor’s rating of BBB+.

• Located within the Birmingham MSA

• Rare 5% rental escalation in the primary term of the lease

• Strong rent to sales ratio

• Investment grade company with an S&P Rating of BBB+

• Over 150,000 people living within five miles of the property

• Rental escalations in the option periods

• Unemployment in the Birmingham metro is 6.6%, which is below the national average

INVESTMENT HIGHLIGHTS

EXECUTIVE SUMMARY

EXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARYEXECUTIVE SUMMARY



Price: $3,400,000

Cap Rate: 7.54%

Rent Schedule: NOI Escalation Date

$ 256,521

$ 269,348 6/1/2015

$ 277,428 6/1/2020 (Option 1)

$ 285,751 6/1/2025 (Option 2)

$ 294,323 6/1/2030 (Option 3)

$ 303,153 6/1/2035 (Option 4)

Renewal Options: Four 5-Year

Lease Commencement Date: June 1, 2000

Lease Expiration Date: May 31, 2020

Tenant: CVS

Credit Rating: BBB+

Year Built 2000

Lease Type: NN

Rentable Square Feet: 10,125 SF

Land Size: 30,927 SF

PROPERTY OVERVIEW

PROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEWPROPERTY OVERVIEW



AERIAL

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SITE PLANSITE PLANSITE PLANSITE PLAN

SITE PLAN



MAP

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Website: www.cvs.com

Number of Locations: 7,304

Stock Symbol: CVS : NYSE

Standard & Poor’s Rating: BBB+

Market Capitalization: $58 Billion

Employees: 80,000

CVS is engaged in the retail drugstore business. As of September 2011, the Company operated 7,304 locations in 41 states and Puerto Rico. CVS is the nation's second-largest drugstore chain and the third-largest pharmacy benefits manager. As a retail division of CVS Caremark, CVS retail locations sell prescription drugs and a wide variety of general merchandise including over-the-counter medication, beauty products and cosmetics, film and photo finishing services, seasonal merchandise and convenience foods. CVS also offers healthcare services through their MinuteClinic locations, most of which are located within their stores. CVS is headquartered in Woonsocket, Rhode Island and was founded in 1963.

TENANT PROFILE

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PopulationPopulationPopulationPopulation 3333----mi.mi.mi.mi. 5555----mi.mi.mi.mi. 7777----mimimimi

Total Population 30,745 94,256 162,784 Total Households 11,311 36,275 62,948

IncomeIncomeIncomeIncome

Median Household Income $32,437 $39,975 $41,944 Average Household Income $41,802 $56,008 $58,171

DEMOGRAPHIC COMPARISON REPORT

DEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORTDEMOGRAPHIC COMPARISON REPORT



LOCATION OVERVIEW

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steel companies have announced about $100 million worth of investment in expansions and new plants in and around the city. Vulcan Materials Company, a major provider of crushed stone, sand, and gravel used in construction, is also based in Birmingham. Additionally, Birmingham has grown in the bio-technology and medical research sectors due to the University of Alabama at Birmingham (UAB) and its adjacent hospital. UAB is now the area's largest employer and the second largest in Alabama with a workforce of about 18,750. Health care services provider HealthSouth, Surgical Care Affiliates and Diagnostic Health Corporation are also headquartered in the city.

http://www.informationbirmingham.com/

Pleasant Grove Pleasant Grove Pleasant Grove Pleasant Grove is located in Jefferson County, Alabama and suburb of Birmingham. At

the 2010 U.S. census the population of Pleasant Grove was 10,110. Jefferson County

is the most populous county in Alabama. At the time of the 2010 census, the

population of Jefferson County was 658,466. Jefferson County is the principal and

most populous county in the Birmingham metropolitan area.

http://cityofpg.com/

Birmingham Birmingham Birmingham Birmingham is the largest city in Alabama. At the time of the 2010 U.S. Census,

Birmingham had a population of 212,237 and the Birmingham-Hoover Metropolitan

Area had a population of about 1,128,047. The Birmingham MSA contains 25% of

Alabama’s total population.

The steel industry plays a large role in the local economy of Birmingham. Steel

products manufacturers American Cast Iron Pipe Company and McWane are based in

the city and several of the nation's largest steelmakers, including CMC Steel, U.S.

Steel, and Nucor, also have a major presence in Birmingham. In recent years, local



666 Dundee Road Suite 1801 Northbrook, IL 60062

Randy Blankstein President 847.562.0003 [email protected]

Jimmy Goodman Partner 847.562.8500 [email protected]

CONTACT INFORMATION

CONTACT INFORMATIONCONTACT INFORMATIONCONTACT INFORMATIONCONTACT INFORMATION

Single tenant CVS for sale

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