OFFERING MEMORANDUM CBRE, Inc. | Licensed …...healthy rent to sales ratio. The property is situated at the hard corner signalized intersection with excellent visibility and access

N

Lamar High School 2,865 Students

N Davis Dr

W. Lamar B

lvd

Tom Landry Fwy | Interstate 30

AT&T StadiumNew Globe

Life Field

OFFERING MEMORANDUM

Capital Markets | Net Lease Properties

CBRE, Inc. | Licensed Real Estate Broker

1116 W. LAMAR BLVD, ARLINGTON (DALLAS MARKET), TX 76012

LONG TERM ABSOLUTE NNN | HIGH PERFORMING STORE | DENSE AFFLUENT MARKET

Actual Property

EXCLUSIVELY MARKETED BY LOCAL CONTACT

MARK DRAZEKSenior Vice PresidentCapital Markets | Net Lease Properties

+1 407 39 [email protected]


© 2019 CBRE, Inc. All Rights Reserved.

RAY ROMANOFirst Vice PresidentCapital Markets | Net Lease Properties


BRAD BENJAMINSenior AssociateCapital Markets | Net Lease Properties


N D

avis

Dr

W. Lamar Blvd

Tom Landry Fwy | Interstate 30 (140,254 AADT)

Stad

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Dri

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AT&

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AT&T Stadium

New Globe Life Field

Six Flags Hurricane Harbor

N C

ollin

s St

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Bair

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N C

oope

r St E. Lamar Blvd

Six Flags Over Texas

Lincoln Square Shopping Complex

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1116 W. Lamar Blvd. Arlington, TX


1INVESTMENT SUMMARY

2AREA OVERVIEW

5AERIAL PHOTOGRAPHS

Investment Highlights City OverviewLocal & Regional Maps

Aerial Photographs Tenant Description

11TENANT SUMMARY

Represntative Photo

1

WALGREENS | ARLINGTON TX

CBRE is pleased to present this well established long term absolute NNN Walgreens investment property located in Arlington, TX. Walgreens has been at this location for 17 years and boasts a very healthy rent to sales ratio. The property is situated at the hard corner signalized intersection with excellent visibility and access. It is located directly across from Lamar High School which has been ranked as one of the country’s top 50 high schools by U.S. News and World Report. This is a densely populated affluent market with an average household income over $100,000 annually.

INVESTMENT SUMMARY

PRICE: $5,898,240

ANNUAL RENT: $368,640

CAP RATE: 6.25%

TENANT: Walgreens, Inc.

REMIANING LEASE TERM: 8 years

OPTIONS: (10) 5-year options

RENT COMMENCEMENT September 1, 2002

LANDLORD OBLIGATIONS: None—Absolute NNN

EXISTING FINANCING: No debt to assume

BUILDING SIZE: 14,490± SF

LAND SIZE: 1.6± acres

PARKING SPACES: 58 spaces (4/1,000 SF)

DRIVE THRU: 2 lanes

YEAR BUILT: 2002

Actual Property

Investment Highlights• Investment grade credit

• No landlord management obligations

• Strong performing store – Very healthy rent to sales ratio

• 8 years remaining on initial 25 year lease

• Dense population and high income area over $100k average household income

• Across from Lamar High School – Recognized by U.S. News and World Report as one of the Nation’s Top 50 high schools

• All mineral rights transfer with the property

• Hard corner signalized intersection

• Excellent visibility and access – Large efficient parcel

• No debt to assume – Able to pay all cash

• Texas has NO STATE INCOME TAX

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AREA OVERVIEW

Dallas, TXDallas/Fort Worth (DFW) is much more than oil tycoons, cattle barons, and Dealey Plaza. “Big D” and its surrounding municipalities create a dynamic cultural and economic hub where an estimated 7.4 million people (and counting) hang their hat each day, the fourth-largest metro area in the country and largest in the South. DFW led the country in population growth in 2017, adding an estimated 146,000 residents, or 400 per day – more than any other metro for the year. North Texas is also home to a diverse industry base, making it one of the most active commercial areas in the country with a local gross domestic product (GDP) of over $535.5 billion. In fact, the region has been ranked the #2 top metro for property investment in the Americas for the last three consecutive years based on investor sentiment reflected in CBRE’s Americas Investor Intentions Survey. DFW’s south-central location, world-class cultural institutions, state of the art hospitals and universities, and robust transportation connectivity make it a top relocation destination for both corporations and job seekers alike.

Contributing about one-third of Texas’ GDP, the economy is the most diverse in the state. DFW is home to many business and professional services from major financial institutions to international law firms. The region has one of the 30 proton beam cancer therapy centers in the U.S., and some of the best physicians and hospitals in the world. The region is anchored by Dallas/Fort Worth International Airport, the 5th busiest in the U.S. by total operations, and one of seven airports internationally with over 200 direct destinations. It is also home to one of the top ranked container ports in the U.S., coordinating 3,000 trucks and 16 intermodal trains per day, and an extensive infrastructure network that serves multiple hotbeds for e-commerce fulfillment.

distance to

348Amarillo

miles

20Downtown

Dallas

miles 13Fort Worth

miles

280San Antonio

miles

258Houston

miles

3Arlington

Central

miles

CLICK FRAME TO SEE PROPERTY VIDEO

https://cbre.qumucloud.com/view/dxzK45mz0Ol

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state map

local map

area map

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LOCATION MAPS

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HOUSEHOLDS 1 MILE 3 MILE 5 MILE

Households 2010 (Census) 4,411 34,563 99,703

Households 2019 (Estimate) 4,729 36,593 107,719

Households 2024 (Projected) 4,869 37,941 112,372

Historical Annual Growth

2010-2019 0.76% 0.62% 0.84%

Projected Annual Growth

2019-2024 0.59% 0.73% 0.85%

HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE

2019 Average $100,909 $71,937 $69,530

2019 Median $73,596 $48,327 $50,521

2019 AGE REPORT 1 MILE 3 MILE 5 MILE

Median Age 39.50 33.00 32.90

POPULATION 1 MILE 3 MILE 5 MILE

Population 2010 (Census) 11,518 80,710 252,461

Population 2019 (Estimated) 12,495 87,192 277,314

Population 2024 (Projected) 12,927 90,429 289,716

Historical Annual Growth

2010-2019 0.88% 0.84% 1.02%

Projected Annual Growth

2019-2024 0.68% 0.73% 0.88%

2019 POPULATION BY RACE 1 MILE 3 MILE 5 MILE

White 8,406 47,358 145,420

Black 1,844 19,446 61,067

Asian 709 6,206 18,364

American Indian & Alaskan Native 63 512 1,845

Pacific Islander 26 107 1,122

Other Race 996 9,994 38,367

Two or More Races 451 3,569 11,130

Hispanic & Non-Hispanic

Hispanic 3,330 24,107 91,014

White Non-Hispanic 6,308 35,235 99,733

DEMOGRAPHIC OVERVIEW

5


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N Davis Dr (15,848 AADT)

W. Lamar Blvd (10,599 AADT)

VIEW NORTHWEST


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N


W. Lamar B

lvd (10,599 AADT)

Tom Landry Fwy (Interstate 30)

AT&T Stadium


VIEW SOUTHEAST


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N

N Davis D

r (15,848 AADT)


Texas Health Memorial Hospital

VIEW SOUTH



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NFort Worth

CBD


W. Lam

ar Blvd (12,815 AADT)


VIEW WEST


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VIEW EAST

Dallas


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SITE PLAN

14,490 SF

N D

AVI

S D

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W LAMAR BLVD

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Walgreen Co. (NYSE: WAG ) S&P Rating: BBB www.walgreens.com

Walgreens is the largest, most successful drugstore chain in the US. Founded in 1901 and headquartered in Deerfield, IL, Walgreen Co. operates 8,582 locations in 50 US states, the District of Columbia, Guam, and Puerto Rico. With the goal to establish an unprecedented and efficient global pharmacy-led, health and wellbeing network, Walgreens and Alliance Boots recently announced that they had entered into a strategic, long-term relationship with AmerisourceBergen, one of North America’s largest pharmaceutical services companies. This relationship will enable Walgreens, Alliance Boots and AmerisourceBergen to benefit from greater scale and global opportunities and work together on programs to improve service levels and efficiencies, while reducing costs and increasing patient access to pharmaceuticals. Together

these three companies will help address global health care challenges by making it easier for manufacturers to bring products to market; increasing accessibility to the benefits of global sourcing and best practices

for community pharmacies; and providing patients with better access to health care. The collaboration will also generate opportunities to attract partners in new markets and prospects in existing markets around the globe.

Actual Property

TENANT DESCRIPTION

12


AFFILIATED BUSINESS DISCLOSURE

CBRE operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offerer or prospective offerer, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.

CONFIDENTIALITY AGREEMENT

This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the property or the owner of all Property (the”Owner”), to be all-inclusive or to contain all or part of the information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors being the control of the Owner and CBRE,Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. Neither the Owner or CBRE, Inc., nor any of their respectful directors, officers, Affiliates or representatives make an representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc.

DISCLAIMER

©2019 CBRE, Inc. The information containing in this document has been obtained for sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property, The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.

CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the Property of their respective owners.

CONFIDENTIAL MEMORANDUM & DISCLAIMER

Representative Photo

© 2019 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.CBRE, and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

MARK DRAZEKSenior Vice President +1 407 839 3123Capital Markets | Net Lease Properties


EXCLUSIVELY MARKETED BY

RAY ROMANOFirst Vice President+1 407 404 5022 Capital Markets | Net Lease Properties

LOCAL CONTACT

BRAD BENJAMINSenior Associate+1 214 252 1030Capital Markets | Net Lease Properties

Documents

OFFERING MEMORANDUM CBRE, Inc. | Licensed …...healthy rent to sales ratio. The property is situated at the hard corner signalized intersection with excellent visibility and access