WALGREENS2425 US Highway 92 E

Lakeland, FL 33801investment offering

ACTUAL SITE

DISCLAIMER

John R. WertzTel: (619) 218-6427jwertz@wertzrealestate.comCA Lic No. 01448585

Financial Overview

Tenant Overview

Executive Summary

Property Photos

Location Map

Area Map

Market Overview

Demographic Report

This Marketing Package was prepared by Wertz Real Estate Investment Services and DZ Net Lease Realty, LLC (“Broker”) solely for the use of prospective buyer considering the purchase of the Property within (the “Property”) and is not to be used for any other purpose. Neither the Broker nor the Owner of the Property make any representation or warranty, expressed or implied, as to the completeness or accuracy of the material contained in the Marketing Package.

Prospective purchasers of the Property are advised that changes may have occurred in the physical or financial condition of the Property since the time this Marketing Package or the financial statements herein were prepared. Prospective purchasers acknowledge that this Marketing Package and the financial statements herein were prepared by Broker, and not by Owner, and are based upon assumptions or events beyond the control of both Broker and Owner, and therefore may be subject to variation. Other than current and historical revenue and operating expense figures for the Property, Owner has not, and will not, provide Broker or any prospective purchaser with any projections regarding the Property. Prospective purchasers of the Property are advised and encouraged to conduct their own comprehensive review and analysis of the Property.

The Marketing Package is a solicitation of interest only and is not an offer to sell the Property. The Owner and Broker expressly reserve the right, at their sole discretion, to reject any or all expression of interest or offers to purchase the Property and expressly reserve the right, at their sole discretion, to terminate discussions with any entity at any time with or without notice.

The Owner shall have no legal commitments or obligations to any entity reviewing the Marketing Package or making an offer to purchase the Property unless and until such offer is approved by Owner pursuant to its Governing Authorities and the signature of the Owner or Owner’s representative is affixed to a Real Estate Purchase Agreement prepared by Owner.

This Marketing Package is confidential. By accepting the Marketing Package, you agree (i) that you will hold and treat the Marketing Package and its contents in the strictest confidence, (ii) that you will not photocopy or duplicate any part of the Marketing Package, (iii) that you will not disclose the Marketing Package or any of its contents to any entity without the prior authorization of the Owner, and (iv) that you will not use the Marketing Package in any fashion or manner detrimental to the Owner or Broker.

Broker has obtained the information contained in this Marketing Package from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, changes of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions, or estimates for example only, and they may not represent current or future performance of the Property. You and your tax and legal advisors should conduct your own investigations of the physical condition of the Property and of the financial performance of its future Ownerships.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT BROKER FOR MORE DETAILS.

TABLE OF CONTENTS

For more information contact:

Greg LaBarreTel: (619) 997-1242glabarre@wertzrealestate.comCA Lic. No. 02069301

Listed with Florida broker David B. ZachariaLic. No. BK3273628DZ Net Lease Realty, LLC license CQ1043817

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6-89101112

PRICE $2,600,000

DOWN PAYMENT 100% / $2,600,000

RENTABLE SQUARE FEET 15,930 SF

cap rATE 6.92%

noi $180,000

year built 1997

lot size 2.30 Acres

type of ownership Fee Simple

OFFERING SUMMARY

TENANT TRADE NAME Walgreens

OWNERSHIP Public

LEASE GUARANTOR Corporate

LEASE TYPE NN*

roof & structure Landlord Responsible

original lease term 20 years

lEASE COMMENCEMENT DATE November 1, 1997

lease expiration date February 28, 2023

term remaining on lease Four (4) Years

OPTIONS TO RENEW (7) 5-year options

RIGHT OF FIRST REFUSAL Yes (10 days)

TENANT SUMMARY

ACTUAL SITE

ACTUAL SITE

financial overview

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

* Brand New Roof in 2015

The Walgreen CompanyFounded in 1901 as a single drugstore, Walgreens today is a provider of trusted care in communities around the U.S. Through constant innovation, Walgreens has a history of breaking new ground to meet its customers’ needs and improve their health, from offering self-service stores beginning in the 1950s to developing a 5-star rated mobile app today. In its pharmacies, Walgreens was the first major drugstore chain to put prescriptions into child-resistant containers in the 1960s (long before it was required by law) and in 2016 was the first to offer safe medication disposal kiosks in its stores.

This drive to innovate led Walgreens to merge with European-based Alliance Boots in 2014 to form Walgreens Boots Alliance, Inc., the first global pharmacy-led, health and well-being enterprise. Combining Walgreens with the Boots pharmacy chain and pharmaceutical distributor Alliance Healthcare has created opportunities to bring global beauty brands to Walgreens U.S. customers and offer more value to pharmacy patients through global pharmaceutical supply chains and group purchasing.

As today’s health care and retail markets continue to evolve, customers are redefining value and convenience as they change the way they shop and adopt new technologies. Anticipating these changes, Walgreens is accelerating its transformation as a customer-led company and creating a new health care and retail experience.

TENANT overview

PROPERTY NAME WalgreensPROPERTY ADDRESS 2425 US Highway 92 E Lakeland, FL 33801

PROPERTY TYPE Drugstore

PARENT COMPANY Walgreens Boots Alliance

oWNERSHIP Public

LEASE GUARANTOR Corporate

stock symbol WBA

BOARD NASDAQ

TERM REMAINING ON LEASE Four (4) Years

OPTIONS TO RENEW (7) 5-year options

lease type NN

LANDLORD RESPONSIBILITY Roof & Structure

Drive thru Yes

net operating income $180,000

no. of locations 9,500+

headquartered Deerfield, IL

website www.walgreens.com

years in the business Since 1901

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

INVESTMENT OVERVIEW

The subject property is a drive-thru Walgreens located in Lakeland, Florida. With over 52,000 vehicles per day this site is strategically positioned on U.S. Highway 92, one of two main routes leading to both Tampa and Orlando as well as a main road leading to Plant City going west, and Auburndale, Winter Haven, and Haines City going east.

Walgreens recently exercised their first 5-year option, showing commitment to the location. The building consists of 15,930 square feet on 2.3 acres of land with a 5-mile radius population of over 124,000 people and growing. Walgreens has occupied this site since 1997 and sits on a hard corner, signalized intersection with great visibility. This is an excellent opportunity for an investor looking for a property with a corporately guaranteed tenant and long-term residual value.

National retailers in the area include Harvey’s Supermarket, McDonalds, Dollar Tree, Dollar General, Taco Bell, Subway, AutoZone, Advanced Auto Parts, O’Reilly, Sunoco Gas, Shell, AmeriGas Propane, Boost Mobile, Marathon Gas, CVS and many local retailers. Lakeland Public Works Department neighbors the property which is responsible for construction & maintenance, engineering, facilities maintenance, fleet management, lakes & stormwater, solid waste and traffic operations & parking services throughout Lakeland.

INVESTMENT HIGHLIGHTS

• Strategically Located at a Signalized Intersection and Provides a Drive-Thru

• 20+ Year Historical Occupancy as a Walgreens

• Traffic Counts Exceed 52,000 Cars/Day

• Positive Trending Store Sales

• Dense Infill Location with a Growing Population Exceeding 124,000 Residents in 5-Mile Radius

• Low Rent ($180,000 Annually) & Low Price Per Square Foot ($163/SF)

• Walgreens is the second largest Drugstore company in the United States with over 9,500 drugstores

• Investment Grade Credit (S&P Rated BBB)

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

executive summary

• Walgreens Recently Exercised 1st 5-Year Option Showing a Strong Commitment to the Location

AERIAL PHOTO

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

AERIAL PHOTO

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

Lakeland Public Works Department

AERIAL PHOTO

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

AERIAL PHOTO

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

Lakeland Public Works Department

U.S. Highway 92: 32,100 VPD

Combee Road: 20,370 VPD

AERIAL PHOTO

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

U.S. Highway 92: 32,100 VPDCombee Road: 20,370 VPD

LOCATION MAP

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

AREA MAP

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

LAKELAND (TAMPA BAY AREA), FLORIDALakeland is the westernmost city in Polk County, Florida and is part of the Tampa Bay Area. Lakeland is a principal city of the Lakeland–Winter Haven Metropolitan Statistical Area which had an estimated population of 623,009 in July 2013 based on data from the University of Florida Bureau of Economic and Business Research. It is the largest city on Interstate 4 between Orlando and Tampa. Along with Interstate 4, US Highway 92 (Walgreens site is located at 2425 Us Highway 92), is also a main route leading to both Tampa and Orlando as well as a main road leading to Plant City going west, and Auburndale, Winter Haven, and Haines City going east.

Traditionally, the largest industries in Polk County's economy have been phosphate mining, agriculture, and tourism. Large industries in the Lakeland area are citrus, cattle, and phosphate mining. In the past few decades, tourism, medicine, insurance, transportation, and music have grown in importance. Citrus growing dates back to the early settlers who planted trees in the area in the 1850s. After a series of freezes in counties north of Polk County, the area became the focal point for citrus growing in Florida.

Lakeland's largest employer is Publix Supermarkets. Publix is one of the largest regional grocery chains in the United States with over 1,000 stores across the American South. Publix employs over 6,500 people in the Lakeland area including headquarter and warehouse employees. Lakeland is a transportation hub. FedEx Freight and FedEx Services and the Saddle Creek Corporation employ over 600 people in the area. Other large employers in the area include Amazon, GEICO, Rooms To Go, and Lakeland Regional Medical Center

The dominant feature in Lakeland is the city's many lakes with there being thirty-eight named lakes. The largest of these is Lake Parker, which is 2,550 acres in size. Much of the culture of Lakeland revolves around its many lakes. Lakeland is also the site for the Major League Baseball’s Detroit Tigers Spring Training Facility.

MARKET overview

Lakeland Regional HealthGives Jobs to Over 5,600 Employees

Over 40 Educational FacilitiesProviding Educational Offerings to Students of All Ages

25% of U.S. Phosphate SupplyPhosphate Mining is Major Economical Producer in Lakeland

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

population 1 MILE 3 MILES 5 miles

2024 Projection 7,343 49,516 124,225

2019 Estimate 6,980 46,860 117,092

2010 Census 6,425 42,447 104,675

Percent Change 2010-2019 8.64% 10.40% 11.86%

Percent Change 2019-2024 5.20% 5.67% 6.09%

Median Age 32.64 36.56 38.62

households 1 MILE 3 MILES 5 miles

2019 Est. Avg. HH Income $45,862 $51,639 $57,561

2024 Projection 2,674 18,597 49,420

2019 Est. Households 2,542 17,598 46,573

2010 Census 2,352 16,128 41,861

Percent Change 2010-2019 8.08% 9.12% 11.26%

Percent Change 2019-2024 5.19% 5.68% 6.11%

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

ACTUAL SITE

DEMOGRAPHIC REPORT

Wertz Real Estate Investment Services690 Carlsbad Village Drive, Suite 201-B

Carlsbad, CA 92008Tel: (619) 218-6427Fax: (858) 408-1830

www.wertzrealestate.com

Listed with Florida broker David B Zacharia Lic. No. BK3273628

DZ Net Lease Realty, LLC license CQ1043817