Walgreens 4755 West Broad Street Columbus, Ohio - NET LEASED INVESTMENT OFFERING
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NET LEASED INVESTMENT OFFERING
Representative Rendering
Walgreens
4755 West Broad Street
Columbus, Ohio
Randy Blankstein | President Jimmy Goodman |Partner
847.562.0003 847.562.8500 www.bouldergroup.com
rblank@bouldergroup.com jimmy@bouldergroup.com
CONFIDENTIALITY & DISCLAIMER
CONFIDENTIALITY & DISCLAIMER
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.
Randy Blankstein | President Jimmy Goodman |Partner
847.562.0003 847.562.8500 www.bouldergroup.com
rblank@bouldergroup.com jimmy@bouldergroup.com
WALGREENS - COLUMBUS, OH
NET LEASE OPPORTUNITY
Representative Rendering
WALGREENS - COLUMBUS, OH
4755 W Broad Street, Columbus, OH 43228
EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant Walgreens property located in Columbus, Ohio. The 14,820
square foot property is positioned along Broad Street in Columbus. Broad Street is a heavily trafficked east-west thoroughfare with
traffic counts in excess of 38,000 vehicles per day and has a full interchange with Interstate 270 less than one-quarter mile from the
property. Broad Street is home to retailers such as Kohl’s, Target, Home Depot, Hobby Lobby and hhgregg. Directly across from the property
is a Giant Eagle and Jo-Ann Fabrics anchored shopping center. Doctor’s Hospital, a 213 bed facility, is located approximately a quarter mile to
the west of the property. Additionally, the recently completed $400 million Hollywood Casino is located approximately one mile from the
property. The building is situated on 2.05 acres and was built in 2009.
There are approximately twenty years remaining on this absolute net lease that expires February 29, 2034. Walgreens is a publicly traded
company (NYSE: WAG) with a market capitalization in excess of $70 billion and is an investment grade rated tenant (S&P: BBB). Walgreens
currently operates 8,600 locations in all 50 states, the District of Columbia, Puerto Rico, and Guam.
Randy Blankstein | President Jimmy Goodman |Partner
847.562.0003 847.562.8500 www.bouldergroup.com
rblank@bouldergroup.com jimmy@bouldergroup.com
WALGREENS - COLUMBUS, OH
NET LEASE OPPORTUNITY
Representative Rendering
PROPERTY OVERVIEW
4755 W Broad Street, Columbus, OH 43228
Price: $7,823,009 Lease Start Date: February 2, 2009
Cap Rate: 5.65% Lease Expiration: February 29, 2034
Credit: Investment Grade (S&P: BBB) Net Operating Income: $442,000
Building Size: 14,820 SF Renewal Options: 50 Years
Site Size: 2.05 Acres Rental Escalations: None
Year Built: 2009 Lease Type: NNN
Randy Blankstein | President Jimmy Goodman |Partner
847.562.0003 847.562.8500 www.bouldergroup.com
rblank@bouldergroup.com jimmy@bouldergroup.com
WALGREENS - COLUMBUS, OH
NET LEASE OPPORTUNITY
PROPERTY HIGHLIGHTS
Located within the Columbus MSA One mile from the recently completed $400 million Hollywood
Long term lease with approximately 20 years remaining Casino
Investment grade rated tenant (S&P: BBB) One-quarter mile east of Doctor’s Hospital, a 213 bed facility
Broad Street is a primary east-west thoroughfare with traffic Over 200,000 people living within a five mile radius of the property
counts in excess of 38,000 vehicles per day and the property Located within a strong retail corridor near many national retailers
is located approximately one-quarter mile from a full such as Target, Home Depot, Hobby Lobby, and Kohl’s
interchange with Interstate 270 No landlord responsibilities
DEMOGRAPHICS
1-MILE 3-MILE 5-MILE
Population: 14,514 93,012 203,281
Total Households 5,748 36,741 79,735
Avg. Household Income: $42,239 $52,034 $60,274
Randy Blankstein | President Jimmy Goodman |Partner
847.562.0003 847.562.8500 www.bouldergroup.com
rblank@bouldergroup.com jimmy@bouldergroup.com
WALGREENS - COLUMBUS, OH
NET LEASE OPPORTUNITY
Aerial
Randy Blankstein | President Jimmy Goodman |Partner
847.562.0003 847.562.8500 www.bouldergroup.com
rblank@bouldergroup.com jimmy@bouldergroup.com
WALGREENS - COLUMBUS, OH
NET LEASE OPPORTUNITY
TENANT OVERVIEW
Walgreens is engaged in retail drugstore business. The company operates 8,600 locations in all
50 states, the District of Columbia, Puerto Rico and Guam. The company also operates worksite
health centers, home care facilities, and specialty and mail service pharmacies. Its Take Care
Health Systems subsidiary manages more than 715 in-store convenient care clinics and worksite
health and wellness centers.
The Company’s drugstores are engaged in the retail sale of prescription and non-prescription
drugs and general merchandise. General merchandise includes, among other things, household
items, personal care, convenience foods, beauty care, photofinishing, candy, and seasonal items.
Walgreens offers customers the choice to have prescriptions filled at the drugstore counter, as
well as through the mail, by telephone, and through the Internet. In September 2013, Walgreens
announced that its acquisition of Kerr Drug and its 76 locations.
Walgreens is a publicly traded company (NYSE: WAG) with a market capitalization in excess of
$70 billion and is an investment grade rated tenant (S&P: BBB).
Website: www.walgreens.com
Number of Locations: 8,600
Stock Symbol: WAG : NYSE
Standard & Poor’s Rating: BBB
Market Capitalization: $70 billion
Randy Blankstein | President Jimmy Goodman |Partner
847.562.0003 847.562.8500 www.bouldergroup.com
rblank@bouldergroup.com jimmy@bouldergroup.com
WALGREENS - COLUMBUS, OH
NET LEASE OPPORTUNITY
LOCATION OVERVIEW
Columbus is the largest city in the state of Ohio and the county seat of Franklin County. At the
time of the 2010 U.S. Census, Columbus had a population of 787,000, making it the most popu-
lous city in Ohio. Columbus has a diverse economy based on education, government, insurance,
banking and energy. Columbus is most notably home to The Ohio State University. The Ohio State
University is one of the world’s largest universities with a student population of over 64,000. Co-
lumbus has also emerged as a leader in the technology industry and is home to the world’s larg-
est private research and development foundation, Battelle Memorial Institute. In 2009, Busi-
nessWeek named Columbus the best place in the country to raise a family. Additionally, Columbus
was ranked as America’s 20th best city by Bloomberg BusinessWeek.
Columbus is home to five Fortune 500 corporations including Nationwide Mutual Insurance Com-
pany, American Electric Power, Limited Brands, Momentive Specialty Chemicals and Big Lots. Oth-
er major employers in Columbus include JP Morgan Chase, Huntington Bancshares and Wendy’s.
Columbus is most recognized as the home to The Ohio State University. Ohio State University is
one of the largest universities in the world with a student population of over 64,000 and over
27,000 employees.
www.cityofcolumbus.org
Randy Blankstein | President Jimmy Goodman |Partner
847.562.0003 847.562.8500 www.bouldergroup.com
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