walgreens pharmacy #15613 birmingham, alabama · 2018-07-08 · walgreens pharmacy #15613...

Walgreens Pharmacy #15613 Birmingham, Alabama

• True NNN lease with ~16 years guaranteed rent

• Hightrafficcornersees72,250carsperday

• Higheryieldopportunitywithlowrentandlowprice

• Minutes from University of Alabama-Birmingham

• Birmingham is the largest city and metro area in the state of Alabama

• Full Walgreens corporate guarantee

$6,240,000

6.00%CAPRate

DeerfieldPartnersJohnGiordaniArtGriffith(888) [email protected]

2%DoubleCommissiontoBuyer’sBroker

Walgreens Pharmacy #15613 Midfield, Alabama

DeerfieldPartnersJohn GiordaniArt GriffithCall: (888) 258-7605Email: [email protected]

This freestanding, prototypical Walgreens will provide an investor with 16+ years of NNN rent guaranteed, totalling over $6,000,000 inguaranteedcashflowbeforetheWalgreens’firstoptiontoterminate.

This Walgreens store is strategically located on the busy corner of Bessemer Super Highway and Aaron Aronov Drive (Wiebel Drive),withover44,000vehiclesperdayattheintersection.Thepropertybenefitsfromtwopointsofingressandegressonamainretailcorridor.ThetownofMidfieldisasuburblessthan10milesfromBirmingham.

Inadditiontothe547,926WesternHillsMall, retailers inthe immediatevicinity include:CVS/Pharmacy,McDonald’s,BurgerKing,Wendy’s,Hardee’s,WaffleHouse,PigglyWiggly,Save-A-Lot, DollarTree,T-Mobile,Fred’s,BBVACompassBankandmanymore.

Investment Summary

1 Mile 3 Mile 5 Mile

Population 7,607 57,550 124,995Avg.HHIncome $47,980 $43,530 $48,595

Price $6,240,000CAPRate 6.00%

AnnualIncome $374,230YearsGuaranteed ~16.5years



PropertyDetailsandLeaseSummaryAddress 101BessemerSuperHighway,Midfield,AL35228

YearBuilt 2014BuildingSize 13,500 Square Feet

LotSize 0.93acresTenant Walgreens (NASDAQ:WBA)

RentStartDate November 1, 2014LeaseEndDate October 31, 2089

TerminationOptions Tenant may terminate as of 10/31/2034, with at least twelve (12) months prior writtennotice.

Prototypical Storefront



Regional Map / About Birmingham, AlabamaTheCityofBirmingham,Alabama,isamunicipalcorporationunderthelawsoftheStateofAlabama.Birminghamisthelargestcityinthestatewithapopulationcurrentlyestimatedat212,237,andametropopulationof1,136,650.

Nestled at the foothills of the Appalachian Mountains at the cross-section of two major railroads, the city was once the primary industrialcenterofthesouthernUnitedStates.Attheheightofthenation’smanufacturingage,thecitygrewsofastinpopulation,itwascalledthe“MagicCity.”Today,Birminghamhastransformeditselfintoamedicalresearch,bankingandservice-basedeconomy,makingitoneofthenation’smostlivablecitieswithavibrantdowntown,aburgeoningloftcommunity,aworld-classculinary scene and more green space per capita than any other city in the nation!

Birminghamalsoboasts99historicneighborhoodsandisoftenreferredtoasthecradleoftheAmericanCivilRightsMovement.

BirminghamStats:Ranks13thamongthelargestsoutheasternmetropolitanareasRepresents22percentofAlabama’stotalpopulationRepresents31percentofAlabama’stotalpayrolldollarsRanks48thinpopulationamongthenation’stop366metropolitanareasHome to 40,680 BusinessesRanks98thinpopulationamongthenation’s285largestcities.

LARGESTEMPLOYERS(MSA):University of Alabama at BirminghamU.S.GovernmentAlabama Power CompanyCompassBankCity of BirminghamChildren’sHospitalRegionsBankAT&TTelecommunications,Inc.Birmingham Board of EducationAmericanCastIronPipeCo.Inc.

EnrollmentatAreaCollegesandUniversities:University of Alabama at Birmingham – 17,543University of Montevallo – 3,045Samford University – 4,715Birmingham-Southern College – 1,542Southeastern Bible College – 195Miles College – 1,668JeffersonStateCommunityCollege–9,688LawsonStateCommunityCollege–4,863Virginia College at Birmingham – 12,546



Site Plan



About Walgreens Boots AllianceWalgreens Boots Alliance (Nasdaq: WBA) is the first global pharmacy-led, health and wellbeing enterprise. The Company’s heritage of trusted healthcare services through community pharmacy care and pharmaceutical wholesaling dates back more than 100 years.

Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the U.S. and Europe. Walgreens Boots Alliance and the companies in which it has equity method investments together have a presence in more than 25* countries and employ more than 385,000* people. The Company is a global leader in pharmacy-led, health and wellbeing retail and, together with the companies in which it has equity method investments, has more than 13,200* stores in 11* countries as well as one of the largest global pharmaceutical wholesale and distribution networks, with more than 390* distribution centers delivering to more than 230,000** pharmacies, doctors, health centers and hospitals each year in more than 20* countries. In addition, Walgreens Boots Alliance is one of the world’s largest purchasers of prescription drugs and many other health and wellbeing products. The Company’s size, scale, and expertise will help us to expand the supply of, and address the rising cost of, prescription drugs in the U.S. and worldwide.

Walgreens Boots Alliance is included in Fortune magazine’s 2018 list of the World’s Most Admired Companies. This is the 25th consecutive year that Walgreens Boots Alliance or its predecessor company, Walgreen Co., has been named to the list.

* As of 31 August 2017, using publicly available information for AmerisourceBergen.**For 12 months ending 31 August 2017, using publicly available information for AmerisourceBergen.



Walgreens Income Statements Trailing 5 Years



Walgreens Boots Alliance -- Segment Structure

8

Walgreens Boots Alliance – Segment Structure

The largest retail pharmacy chain in Europe

A leading global pharmaceutical wholesaler

and distributor

A leading drugstore chain in the USA

The first global pharmacy-led, health and wellbeing enterprise in the world



Walgreens Boots Alliance -- Retail Pharmacy USA DivisionOur Retail Pharmacy USA Division’s principal retail pharmacy brands are Walgreens and Duane Reade. Together, they form one of the largest drugstore chains in the U.S., operating 8,100* drugstores in 50* states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. As of August 2017, approximately 76 percent of the population of the U.S. lives within five miles of a Walgreens or Duane Reade.

We sell prescription and non-prescription drugs, as well as general merchandise, including household items, convenience and fresh foods, personal care, beauty care, photofinishing and candy. We offer our products and services through drugstores, as well as through mail, telephone and online. We also provide specialty pharmacy and respiratory services, and operate retail clinics.

Our services help improve health outcomes for patients and manage costs for payers including employers, managed care organizations, health systems, pharmacy benefit managers and the public sector. Our stores sell branded and own brand general merchandise. In addition, Walgreens has approximately 400 in-store clinic locations throughout the U.S., some of which are operated by the Company and some of which are operated by health system partners.

Prescription drugs account for 69 percent† of sales, while retail products are 31 percent.

Overall, we filled approximately 764 million† prescriptions in fiscal 2017. Adjusted to 30-day equivalents, we filled approximately 990 million† prescriptions in fiscal 2017. Third party sales, where reimbursement is received from managed care organizations, government and private insurance, were approximately 98 percent† of prescription sales.

We utilize our extensive retail network as a channel to provide affordable quality health and wellness services to our customers and patients, as illustrated by our ability to play a significant role in providing flu vaccines and other immunizations.

We have more than 78,000* healthcare service providers, including pharmacists, pharmacy technicians, nurse practitioners and other health related professionals. Through them we expect to continue to play a growing role in government and employer efforts to control escalating healthcare costs.

Our loyalty program, Balance® Rewards, is designed to reward our most valuable customers and encourage shopping in stores and online and allows customers the opportunity to earn points for purchasing select merchandise in addition to receiving special pricing on select products when shopping with a rewards card. Customers have the ability to instantly redeem rewards at our stores or through Walgreens.com. We had 88 million Balance® Rewards active members as of August 2017.

The Division’s strategy is designed to further transform our traditional drugstore by offering ultimate convenience, driving the best customer loyalty and delivering extraordinary customer and patient care. We seek to expand our product and service offerings across new channels and markets where, in addition to our stores, customers and patients can utilize our health system pharmacies, Walgreens.com, mobile applications and social media sites.



Walgreens Drugstores Nationwide by State



Demographics - 1 Mile Radius

Demographic and Income Profile101 Bessemer Super Hwy, Birmingham, Alabama, 35228 Prepared by EsriRing: 1 mile radius Latitude: 33.46310

Longitude: -86.91202

AreaStateUSA

Trends 2018-2023Trends 2018-2023

Ann

ual R

ate

(in

perc

ent)

2.42.2

21.81.61.41.2

10.80.60.40.2

0Population Households Families Owner HHs Median HH Income

20182023

Population by AgePopulation by Age

Perc

ent

14

12

10

8

6

4

2

0-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

2018 Household Income 2018 Household Income

<$15K21.1%

$15K - $24K15.9%

$25K - $34K11.6%

$35K - $49K17.0%

$50K - $74K16.4%

$75K - $99K8.9%

$100K - $149K6.0%

$150K - $199K1.6%

$200K+1.5%

2018 Population by Race2018 Population by Race

Perc

ent

90

80

70

60

50

40

30

20

10

0White Black Am. Ind. Asian Pacific Other Two+

2018 Percent Hispanic Origin: 1.1%

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2018 and 2023.

July 03, 2018

©2018 Esri Page 2 of 6



Demographics - 1 Mile RadiusDemographic and Income Profile101 Bessemer Super Hwy, Birmingham, Alabama, 35228 Prepared by EsriRing: 1 mile radius Latitude: 33.46310


Summary Census 2010 2018 2023Population 7,535 7,607 7,683Households 3,069 3,091 3,116Families 2,021 2,006 2,014Average Household Size 2.41 2.41 2.42Owner Occupied Housing Units 1,970 1,905 1,964Renter Occupied Housing Units 1,099 1,186 1,152Median Age 39.6 40.8 41.7

Trends: 2018 - 2023 Annual Rate Area State NationalPopulation 0.20% 0.42% 0.83%Households 0.16% 0.44% 0.79%Families 0.08% 0.29% 0.71%Owner HHs 0.61% 0.72% 1.16%Median Household Income 1.57% 2.38% 2.50%

2018 2023 Households by Income Number Percent Number Percent

<$15,000 651 21.1% 605 19.4%$15,000 - $24,999 491 15.9% 452 14.5%$25,000 - $34,999 358 11.6% 332 10.7%$35,000 - $49,999 526 17.0% 515 16.5%$50,000 - $74,999 508 16.4% 536 17.2%$75,000 - $99,999 275 8.9% 321 10.3%$100,000 - $149,999 186 6.0% 236 7.6%$150,000 - $199,999 50 1.6% 61 2.0%$200,000+ 45 1.5% 57 1.8%

Median Household Income $35,904 $38,813Average Household Income $47,980 $54,327Per Capita Income $19,625 $22,148

Census 2010 2018 2023 Population by Age Number Percent Number Percent Number Percent

0 - 4 448 5.9% 426 5.6% 433 5.6%5 - 9 484 6.4% 467 6.1% 449 5.8%10 - 14 542 7.2% 503 6.6% 497 6.5%15 - 19 599 7.9% 468 6.2% 486 6.3%20 - 24 489 6.5% 456 6.0% 399 5.2%25 - 34 840 11.1% 990 13.0% 932 12.1%35 - 44 774 10.3% 823 10.8% 952 12.4%45 - 54 1,148 15.2% 831 10.9% 834 10.9%55 - 64 1,175 15.6% 1,170 15.4% 991 12.9%65 - 74 501 6.6% 927 12.2% 1,061 13.8%75 - 84 387 5.1% 372 4.9% 477 6.2%

85+ 149 2.0% 174 2.3% 173 2.3%Census 2010 2018 2023

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 520 6.9% 449 5.9% 408 5.3%Black Alone 6,927 91.9% 7,064 92.9% 7,174 93.4%American Indian Alone 7 0.1% 7 0.1% 7 0.1%Asian Alone 8 0.1% 9 0.1% 10 0.1%Pacific Islander Alone 0 0.0% 0 0.0% 0 0.0%Some Other Race Alone 37 0.5% 34 0.4% 34 0.4%Two or More Races 36 0.5% 44 0.6% 50 0.7%

Hispanic Origin (Any Race) 85 1.1% 81 1.1% 80 1.0%Data Note: Income is expressed in current dollars.


July 03, 2018







AreaStateUSA

Trends 2018-2023Trends 2018-2023

Ann

ual R

ate

(in

perc

ent)

2.5

2

1.5

1

0.5


20182023


Perc

ent

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+


<$15K24.0%

$15K - $24K16.5%

$25K - $34K13.1%

$35K - $49K15.4%

$50K - $74K15.5%

$75K - $99K8.1%

$100K - $149K5.5%

$150K - $199K1.2%

$200K+0.8%


Perc

ent

90

80

70

60

50

40

30

20

10




July 03, 2018







Trends: 2018 - 2023 Annual Rate Area State NationalPopulation 0.06% 0.42% 0.83%Households 0.06% 0.44% 0.79%Families -0.06% 0.29% 0.71%Owner HHs 0.55% 0.72% 1.16%Median Household Income 2.26% 2.38% 2.50%


<$15,000 5,338 24.0% 4,950 22.2%$15,000 - $24,999 3,679 16.5% 3,380 15.1%$25,000 - $34,999 2,925 13.1% 2,721 12.2%$35,000 - $49,999 3,423 15.4% 3,377 15.1%$50,000 - $74,999 3,445 15.5% 3,652 16.3%$75,000 - $99,999 1,805 8.1% 2,125 9.5%$100,000 - $149,999 1,219 5.5% 1,571 7.0%$150,000 - $199,999 270 1.2% 339 1.5%$200,000+ 175 0.8% 229 1.0%



0 - 4 3,823 6.6% 3,530 6.1% 3,526 6.1%5 - 9 3,828 6.6% 3,743 6.5% 3,587 6.2%10 - 14 3,838 6.6% 3,792 6.6% 3,787 6.6%15 - 19 4,694 8.1% 3,740 6.5% 3,894 6.7%20 - 24 4,130 7.1% 3,724 6.5% 3,376 5.8%25 - 34 6,991 12.1% 7,498 13.0% 6,953 12.0%35 - 44 6,134 10.6% 6,411 11.1% 7,042 12.2%45 - 54 8,754 15.1% 6,537 11.4% 6,395 11.1%55 - 64 8,045 13.9% 8,594 14.9% 7,560 13.1%65 - 74 3,908 6.8% 6,163 10.7% 7,209 12.5%75 - 84 2,661 4.6% 2,631 4.6% 3,240 5.6%

85+ 1,043 1.8% 1,186 2.1% 1,164 2.0%Census 2010 2018 2023

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 3,777 6.5% 3,276 5.7% 3,002 5.2%Black Alone 52,544 90.8% 52,715 91.6% 53,135 92.0%American Indian Alone 109 0.2% 104 0.2% 101 0.2%Asian Alone 41 0.1% 42 0.1% 44 0.1%Pacific Islander Alone 7 0.0% 7 0.0% 7 0.0%Some Other Race Alone 972 1.7% 949 1.6% 933 1.6%Two or More Races 395 0.7% 459 0.8% 510 0.9%

Hispanic Origin (Any Race) 1,575 2.7% 1,522 2.6% 1,510 2.6%Data Note: Income is expressed in current dollars.


July 03, 2018







AreaStateUSA

Trends 2018-2023Trends 2018-2023

Ann

ual R

ate

(in

perc

ent)

2.42.2

21.81.61.41.2

10.80.60.40.2


20182023


Perc

ent

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+


<$15K22.8%

$15K - $24K15.1%

$25K - $34K12.6%

$35K - $49K14.2%

$50K - $74K16.5%

$75K - $99K8.7%

$100K - $149K6.5%

$150K - $199K2.2%

$200K+1.4%


Perc

ent

70

60

50

40

30

20

10




July 03, 2018







Trends: 2018 - 2023 Annual Rate Area State NationalPopulation 0.15% 0.42% 0.83%Households 0.18% 0.44% 0.79%Families 0.05% 0.29% 0.71%Owner HHs 0.58% 0.72% 1.16%Median Household Income 2.06% 2.38% 2.50%


<$15,000 11,339 22.8% 10,488 20.9%$15,000 - $24,999 7,525 15.1% 6,919 13.8%$25,000 - $34,999 6,256 12.6% 5,804 11.6%$35,000 - $49,999 7,070 14.2% 6,943 13.8%$50,000 - $74,999 8,196 16.5% 8,668 17.3%$75,000 - $99,999 4,304 8.7% 5,022 10.0%$100,000 - $149,999 3,246 6.5% 4,119 8.2%$150,000 - $199,999 1,080 2.2% 1,329 2.7%$200,000+ 678 1.4% 847 1.7%



0 - 4 8,384 6.8% 7,802 6.2% 7,879 6.3%5 - 9 7,937 6.4% 7,840 6.3% 7,587 6.0%10 - 14 7,799 6.3% 7,626 6.1% 7,677 6.1%15 - 19 9,300 7.5% 7,852 6.3% 8,081 6.4%20 - 24 10,078 8.1% 8,996 7.2% 8,261 6.6%25 - 34 16,361 13.2% 17,868 14.3% 17,330 13.8%35 - 44 13,644 11.0% 14,205 11.4% 15,434 12.3%45 - 54 17,809 14.3% 14,182 11.3% 13,771 10.9%55 - 64 16,265 13.1% 17,592 14.1% 15,842 12.6%65 - 74 8,360 6.7% 12,535 10.0% 14,535 11.5%75 - 84 5,846 4.7% 5,748 4.6% 6,915 5.5%

85+ 2,371 1.9% 2,750 2.2% 2,653 2.1%Census 2010 2018 2023

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 21,972 17.7% 20,948 16.8% 20,047 15.9%Black Alone 97,782 78.8% 99,221 79.4% 100,725 80.0%American Indian Alone 268 0.2% 261 0.2% 258 0.2%Asian Alone 892 0.7% 1,171 0.9% 1,399 1.1%Pacific Islander Alone 20 0.0% 20 0.0% 21 0.0%Some Other Race Alone 2,183 1.8% 2,124 1.7% 2,085 1.7%Two or More Races 1,036 0.8% 1,250 1.0% 1,429 1.1%

Hispanic Origin (Any Race) 3,747 3.0% 3,662 2.9% 3,666 2.9%Data Note: Income is expressed in current dollars.


July 03, 2018


walgreens pharmacy #15613 birmingham, alabama · 2018-07-08 · walgreens pharmacy #15613...

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