SINGLE TENANT ABSOLUTE NNN Investment Opportunity

321 EAST STREET

PITTSBORO NORTH CAROLINAACTUAL SITE

With Drive-Thru

ACTUAL SITE 2 NATIONAL NET LEASE GROUP

Broker in Charge: Ray Uttenhove, SRS Real Estate Partners-Southeast, LLC | NC License No. 267848

EXCLUSIVELY MARKETED BY

ANDREW FALLONExecutive Managing Director & Market LeaderSRS National Net Lease Group

D 202.286.1542Andrew.Fallon@srsre.com VA License No. 0225193951

PROPERTY PHOTOS

ACTUAL SITE 3 NATIONAL NET LEASE GROUP

ACTUAL SITE 4 NATIONAL NET LEASE GROUP

MONUMENT SIGN

ACTUAL SITE 5 NATIONAL NET LEASE GROUP

Offering

Property Specifications

PRICING $4,945,000

NET OPERATING INCOME $259,595

CAP RATE 5.25%

GUARANTY Corporate (NYSE: WBA)

TENANT Walgreens

LEASE TYPE Absolute NNN

LANDLORD RESPONSIBILITIES None

RENTABLE AREA 10,280 SF

LAND AREA 1.38 Acres

PROPERTY ADDRESS 321 East Street, Pittsboro, NC 27312

LEASE TERM 15 Years

INCREASES 5% Every 5 Years

OPTIONS 12 (5 Years)

YEAR BUILT 1996

PARCEL NUMBER 0007847

OWNERSHIP Fee Simple (Land & Building)Parcel Map

OFFERING SUMMARY

Lease Term Rental Rates

TENANT NAME SQUARE FEET LEASE START LEASE END BEGIN INCREASE MONTHLY ANNUALLY OPTIONS

Walgreens 10,280 12/10/2019 12/31/2034 Current - $21,633 $259,595 12 (5-Year)

1/1/2025 5% $22,715 $272,575 5% Increase at Each Option1/1/2030 5% $23,850 $286,203

Corporate Guaranteed Lease | Options To Extend | Investment Grade Tenant (S&P: BBB)

• Walgreens corporate guaranteed lease• 15 years remaining with 12 (5-year) option periods to extend• The lease features attractive 5% rental increases in every 5 years throughout the initial term and at

the beginning of each option period

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises• No landlord responsibilities• Ideal, management-free investment for an out-of-state, passive investor

Retail Corridor | Excellent Visibility & Access• The subject property is located along East Street / US Highway 64, a primary retail thoroughfare

serving the city of Pittsboro, averaging 11,000 vehicles passing by daily• Less than 5 miles south of the new 7,000 + acre Chatham Park technological Live-Work-Play

community that is currently under construction• Nearby national/credit tenants include Food Lion, Advance AutoParts, Dollar Tree, and more,

increasing consumer draw to the subject trade area

Strong Demographics In 5-mile Trade Area• More than 10,477 residents and 4,200 employees support the trade area• $84,300 average household income

ACTUAL SITE 6 NATIONAL NET LEASE GROUP

RENT ROLL & INVESTMENT HIGHLIGHTSFor financing options and loan quotes:Please contact our SRS Debt & Equity team at debtequity-npb@srsre.com.

7 NATIONAL NET LEASE GROUP

Location

Parking

Access

Parcel

Traffic Counts

Year Built

Improvements

Zoning

Located inChatham County

There are approximately 50 parking spaces on the

owned parcel.

The parking ratio is approximately 4.86 stalls per

1,000 SF of leasable area.

East Street/ U.S. Highway 64 Business

1 Access Point

J A Farrell Street 1 Access Point

Parcel Number: 7847 Acres: 1.38

Square Feet: 60,200 SF

East Street/ U.S. Highway 64 Business

11,000 Cars Per Day

Sanford Road/ U.S. Highway 501 & 15 12,000 Cars Per Day

1996

There is approximately 10,280 SF of existing building area

Commercial

PROPERTY OVERVIEW

ELEVATION

ACTUAL SITE 8 NATIONAL NET LEASE GROUP

9 NATIONAL NET LEASE GROUP

J A FARRELL ST.J A FARRELL ST.

N. SMALL ST.

N. SMALL ST.

CARS PER DAY11,000

EAST ST./U.S. HIGHWAY 64 BUSINESSEAST ST./U.S. HIGHWAY 64 BUSINESS

10 NATIONAL NET LEASE GROUP

U.S.

HIG

HWAY

15

& 5

01U.

S. H

IGHW

AY 1

5 &

501

STAT

E HI

GHW

AY 8

7 &

902

STAT

E HI

GHW

AY 8

7 &

902

HORTONHORTONMIDDLE SCHOOLMIDDLE SCHOOL

CENTRAL CAROLINACENTRAL CAROLINACOMMUNITY COLLEGECOMMUNITY COLLEGE

PITTSBOROPITTSBOROELEMENTARY SCHOOLELEMENTARY SCHOOL

EAST ST./U.S. HIGHWAY 64 BUSINESSEAST ST./U.S. HIGHWAY 64 BUSINESSCARS PER DAY11,000

CARS PER DAY12,000

CARS PER DAY7,800

MONUMENT SIGN

EAST ST.EAST ST.

J A FARRELL ST.J A FARRELL ST.

NOOE ST.NOOE ST.

CARS PER DAY11,000

11 NATIONAL NET LEASE GROUP

12 NATIONAL NET LEASE GROUP

CHARLOTTE115 miles

DURHAM30 miles

RALEIGH35 miles

PITTSBORO

LOCATION MAP

2019 ESTIMATED POPULATION

1 Mile 3,531

3 Mile 6,565

5 Mile 10,477

2019 AVERAGE HOUSEHOLD INCOME

1 Mile $88,269

3 Mile $82,803

5 Mile $84,307

2019 ESTIMATED TOTAL EMPLOYEES

1 Mile 2,611

3 Mile 3,667

5 Mile 4,226

13 NATIONAL NET LEASE GROUP

Pittsboro, North Carolina

Pittsboro is in the heart of Chatham County, one of the fastest growing counties in the state. Residents of Pittsboro embrace small town values of respect for one another and a strong sense of community. Its’ people are a diverse group of artists and farmers, merchants and students, and it is home to the North Carolina Zen Center. It supports software developers, bio-fuel research and production, antique shops and art galleries.

The largest industries in Pittsboro, NC are Health Care & Social Assistance, Retail Trade, and Educational Services, and the highest paying industries are Professional, Scientific, & Technical Services, Manufacturing, and Health Care & Social Assistance.

The most common job groups, by number of people living in Pittsboro, NC, are Office & Administrative Support Occupations, Health Diagnosing & Treating Practitioners & Other Technical Occupations, and Sales & Related Occupations. Compared to other places, Pittsboro, NC has an unusually high number of residents working as Arts, Design, Entertainment, Sports, & Media Occupations, Health Diagnosing & Treating Practitioners & Other Technical Occupations, and Life, Physical, & Social Science Occupations. The highest paid jobs held by residents of Pittsboro, NC, by median earnings, are Computer & Mathematical Occupations, Computer, Engineering, & Science Occupations, and Healthcare Practitioners & Technical Occupations.

The most common industries in Pittsboro, NC, by number of employees, are Health Care & Social Assistance, Retail Trade, and Educational Services.

Pittsboro is ideally situated at the intersection of US 64 and Hwy 15-501. It is 16 miles to Chapel Hill, 25 miles to Research Triangle Park, and 32 miles to Raleigh . It’s a short drive to recreation areas at Jordan Lake State Park (visited by 1-2 million people annually). It is adjacent to the State’s newest Natural Area – 960 acres along the scenic Haw River.

The nearest major airport is Raleigh-Durham International Airport (RDU / KRDU). Another major airport is Piedmont Triad International Airport (GSO / KGSO).

AREA OVERVIEW

14 NATIONAL NET LEASE GROUP

AREA OVERVIEW

Chatham Park

Chatham Park is a 7,000 acre technological Live-Work-Play community located in Pittsboro offering choices in all aspects of life. With in close proximity to the Research Triangle Park, Raleigh-Durham International Airport, and three world class universities (Duke University, University of North Carolina Chapel Hill, and North Carolina State University), its location is a prime spot for the growth of both your family and your career.

In the planning stages for Chatham Park are over 25 unique home designs in five separate villages, complete with boutique shops, world class dining, and on site schools. Over 2,000 acres will be dedicated to parks and open space in addition to over 50 miles of walking and biking trails within the community and along the waterfront of Haw River and Jordan Lake. All totaled Chatham Park will house 22 million square feet of office, research, retail, and community space.

15 NATIONAL NET LEASE GROUP

1 MILE 3 MILES 5 MILES

2019 Estimated Population 3,531 6,565 10,477

2024 Projected Population 3,871 7,210 11,514

2010 Census Population 3,019 5,576 8,929

Projected Annual Growth 2019 to 2024 1.86% 1.89% 1.91%

Historical Annual Growth 2010 to 2019 1.4% 2% 1.92%

2019 Estimated Households 1,459 2,650 4,325

2024 Projected Households 1,599 2,911 4,751

2010 Census Households 1,254 2,260 3,707

Projected Annual Growth 2019 to 2024 1.85% 1.9% 1.9%

Historical Annual Growth 2010 to 2019 1.32% 1.98% 1.83%

2019 Estimated White 78.86% 77.69% 78.36%

2019 Estimated Black or African American 15.94% 17.27% 16.67%

2019 Estimated Asian or Pacific Islander 2.29% 2.21% 2.13%

2019 Est. American Indian or Native Alaskan 0.37% 0.35% 0.34%

2019 Estimated Other Races 2.97% 2.8% 2.79%

2019 Estimated Hispanic 5.98% 5.73% 5.73%

2019 Estimated Average Household Income $88,269 $82,803 $84,307

2019 Estimated Median Household Income $61,327 $59,588 $59,995

2019 Estimated Per Capita Income $35,820 $34,485 $34,734

2019 Estimated Total Businesses 331 457 538

2019 Estimated Total Employees 2,611 3,667 4,226

AREA DEMOGRAPHICS

16 NATIONAL NET LEASE GROUP

COMPANY TYPE 2019 EMPLOYEES 2019 EMPLOYEES 2019 REVENUE

SubsidiaryWalgreens Boots

Alliance232,000 $136.87 B

2019 NET INCOME 2019 ASSETS 2019 EQUITY CREDIT RATING

$3.98 B $67.60 B $23.51 B S&P: BBB

Walgreens walgreens.com

Walgreens, one of the nation’s largest drugstore chains, is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), a global leader in retail and wholesale pharmacy. Walgreens is proud to be a neighborhood health, beauty and retail destination supporting communities across the country, and was named to FORTUNE magazine’s 2019 Companies that Change the World list. Approximately 8 million customers interact with Walgreens in stores and online each day. As of August 31, 2019, Walgreens operates 9,277 drugstores with a presence in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands, along with its omnichannel business, Walgreens.com. Walgreens also provides specialty pharmacy and mail services and offers in-store clinics and other health care services throughout the United States. Walgreens Boots Alliance is the parent company of Walgreens.

BRAND PROFILE

RETAIL PROFESSIONALS

OFFICES LARGEST REAL ESTATE SERVICES FIRMin North America

exclusively dedicated to retail

RETAIL LISTINGSin 2018

TRANSACTION VALUEin 2018

275+ 25+ #1 1500+ $2.6B

SRS NATIONAL NET LEASE GROUP IS THE EXCLUSIVE NET LEASE CAPITAL MARKETS TEAM OF SRS REAL ESTATE PARTNERS.

This Offering Memorandum has been prepared by SRS National Net Lease Group (SRS) and has been approved for distribution by the owner. Although effort has been made to provide accurate information, neither the owner nor SRS can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made

available to the purchaser. Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor SRS represents that this offering summary is all inclusive or contains all of the information a purchaser may require. All of the financial projections and/or conclusions presented herein are provided strictly for reference purposes and have been developed based upon assumptions and conditions in effect at the time the evaluations were undertaken. They do not

purport to reflect changes in the economic performance of the property or the business activities of the owner since the date of preparation of this Offering Memorandum. The projected economic performance of the property, competitive submarket conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified

purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment.

*Statistics are for 2018

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