EXCLUSIVE LISTING Offering Memorandum - Walgreens | Bradenton (Ellenton), FL - VEREIT
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Walgreens | Bradenton
EXCLUSIVE LISTING (Ellenton), FL
Offering Memorandum
Walgreens | Bradenton (Ellenton), FL
Actual Site
PATRICK NUTT
MANAGING PARTNER
(954) 302-7365
patrick.nutt@calkain.com CCAALLKKAAIIN
N.C
.CO
OMM
1
Walgreens | Bradenton (Ellenton), FL
Offering Memorandum
Financial Summary
5945 US Hwy 301 N | Ellenton, FL 34222 Investment Highlights
•• Strong sales - reported over $3.7M (~$14M gross sales)
Asking Price $6,015,985 | Cap Rate 6.25%
•• Convenient to I-75 and across from Ellenton Premium Outlet Mall
Net Operating Income (NOI) $375,999 •• Absolute NNN lease
•• Only 20 miles north of Sarasota and 20 miles south of St. Petersburg
Rent/Month $31,333.33
Rent/SF $25.08
Rentable Square Feet 14,490+/- SF
Land Area 1.96+/- Acres
Tenant Name Walgreens
Credit Rating S&P: BBB
Stock Symbol WBA
Guarantor Corporate
Ownership Type Fee Simple
Lease Type NNN
Landlord Responsibilities None
Store Opened 2001
Lease Term Remaining 4.5 Years
Lease Expiration December 31, 2021
Increases None
Options Eight (8), Five (5) Year
2
Walgreens | Bradenton (Ellenton), FL
Offering Memorandum
Tenant Overview
About Walgreens
Walgreens is an American pharmaceutical
company which operates the largest
drug retailing chain in the United States
of America. It specializes in serving prescriptions, health & wellness products,
health information and photo services. As of August 31, 2016, the company
operated 8,175 stores in all 50 states, the District of Columbia, Puerto Rico and
the U.S. Virgin Islands. It was founded in Chicago, Illinois, in 1901. The Walgreens
headquarters office is in the Chicago suburb of Deerfield, Illinois.
In December 2014, Walgreens completed its strategic combination with
Alliance Boots to establish Walgreens Boots Alliance, Inc., forging the first global
pharmacy-led, health and wellbeing enterprise. The combination brought together
two leading companies with iconic brands, complementary geographic footprints,
shared values and a heritage of trusted health care services through community
pharmacy care and pharmaceutical wholesaling. Both companies have more than
a century’s worth of experience in customer and patient care. Walgreens is today
part of the Retail Pharmacy USA division of Walgreens Boots Alliance. Walgreens
provides access to consumer goods and services, plus pharmacy, photo studio,
health and wellness services in the United States through its retail drugstores,
Walgreens Health Services division, and Walgreens Health and Wellness division.
Tenant
Snapshot
# of Locations
8,175
Stock Symbol
WBA
Credit Rating
S&P: BBB
3
Walgreens | Bradenton (Ellenton), FL
Offering Memorandum
Location Overview
Distance To:
Bradenton 7 miles
Sarasota 20 miles Tampa
St. Petersburg 20 miles
Tampa 40 miles
75
St. Petersburg
Subject Site
Bradenton 75
Sarasota
4
Walgreens | Bradenton (Ellenton), FL
Offering Memorandum
5945 US Hwy 301 N | Ellenton, FL 34222
Ellenton Premium Outlets
60th Ave E 8,600 VPD
North River Village
75
I-75
81,5
0
0 VP
D
VPD
,500
US 3 01 33
Subject Site
5
Walgreens | Bradenton (Ellenton), FL
Offering Memorandum
5945 US Hwy 301 N | Ellenton, FL 34222
Subject Site
60th
Ave E
33,500 VPD
US 301
6
Walgreens | Bradenton (Ellenton), FL
Offering Memorandum
Demographics
Radius 1 Mile 3 Miles 5 Miles
Population
2016 Population 3,491 36,391 104,815
2021 Population 3,928 40,998 116,631
2010-2016 Annual Rate 2.86% 2.79% 2.05%
2016-2021 Annual Rate 2.39% 2.41% 2.16%
2016 Male Population 45.7% 47.9% 48.4%
2016 Female Population 54.3% 52.1% 51.6%
2016 Median Age 60.2 47.0 43.5
Households
2016 Total Households 1,697 15,581 41,162
2021 Total Households 1,905 17,446 45,682
2010-2016 Annual Rate 2.25% 2.53% 1.89%
2016-2021 Annual Rate 2.34% 2.29% 2.11%
2016 Average Household Size 2.06 2.33 2.52
Median Household Income
2016 Median Household Income $39,273 $46,400 $44,787
2021 Median Household Income $44,208 $54,056 $52,552
2016-2021 Annual Rate 2.40% 3.10% 3.25%
Average Household Income
2016 Average Household Income $56,609 $62,959 $62,022
2021 Average Household Income $61,773 $69,854 $68,848
2016-2021 Annual Rate 1.76% 2.10% 2.11%
Per Capita Income
2016 Per Capita Income $26,160 $26,614 $24,675
2021 Per Capita Income $28,488 $29,316 $27,235
2016-2021 Annual Rate 1.72% 1.95% 1.99%
7
Walgreens | Bradenton (Ellenton), FL
Offering Memorandum
Market Overview
Ellenton, FL
Ellenton’s central location makes it ideal for those who want to be close to the
amenities offered by medium sized cities like Sarasota and Bradenton, while
maintaining the quiet, calm atmosphere of a small town. Highway I-75 and State
Route 43 make it easy for Ellenton’s residents to travel around the area, while
people with a hankering for the beach can hop on US 64 by way of US 301.
Ellenton is located in Manatee County, which was recently ranked the 21st
Best Place to Live by Money Magazine. The beaches, the old-Florida style
neighborhoods and the eastern part of the county, which is still very rural, are
major attractions for those who love Florida but can’t handle the wall of pavement
that is slowly taking over many of Florida’s other metro areas.
Hard to miss from the interstate, the Ellenton Ice and Sports Rink is located
Elenton Premium Outlets
just north of the Ellenton Outlet Mall. This state-of-the-art ice facility offers
recreational and entertaiment activities for all ages.
The Gamble Plantation State Historical Site is located in Ellenton on US 301. It was
once an extensive sugar plantation, and today it is the only surviving plantation
house in South Florida. It is also the only Confederate memorial in the entire state
of Florida. Covering over 3500 acres, this sugar plantation was built in the mid-
1800s, and features a collection of antebellum furniture and a farmhouse dating
back to the 1890s.
About Ellenton Premium Outlets
Home to 130 designer and brand outlet stores for the whole family, Ellenton
Premium Outlets is conveniently located off I-75 and US 301 in Ellenton, Florida
within 25 miles of Sarasota, St. Petersburg, Tampa and Bradenton and a stone
throw away from the beautiful beaches of Anna Maria Island, LongBoat Key,
Siesta Key and St. Pete Beach. This outdoor mall features covered walkways, lush,
tropical landscaping and flowing water fountains. Ellenton Premium Outlets stores
range from women’s apparel and accessories to home furnishings to specialty
items. Stores include Coach, Michael Kors, Nike Factory Store, Polo Ralph Lauren
Factory Store and Saks Fifth Avenue Off 5th. Ellenton Ice and Sports Complex
8
Walgreens | Bradenton (Ellenton), FL
Offering Memorandum
About Calkain
Who Are We?
We are a national commercial real estate firm that provides consulting and With the growth in staff, seasoned professionals have been attracted to Calkain’s
brokerage services to both private and institutional clientele with an expertise on model of innovation, entrepreneurship and the fostering of long-lasting and
triple net lease investments. We pride ourselves on being a world class leader by meaningful relationships. Industry experts have joined Calkain in the hopes of
providing our clients a full array of commercial real estate investment brokerage implementing the skills they have honed in complementary aspects of real estate
and asset management solutions, including advisory, research, estate planning investment.
and wealth management. Through a tremendous endeavor, tireless hours have been committed to
We have built solid relationships throughout our decades of experience and continually prove that Calkain is America’s Net Lease Company®. Its countless
innovation, implementing long-term allocation within the context of each client’s accolades received from the world’s leading business publications, including
particular risk tolerance and identifying how best to acquire and dispose of income Forbes™, Fortune™ and the New York Times™ have confirmed that Calkain is a
producing properties for each entities’ specific set of investment criterion. At true leader in triple net lease investing services.
Calkain, our foresight and past performance are leading the net lease investment
industry.
Client Testimonial
Our History
Like most success stories, Calkain was formulated from humble beginnings.
“USRA has worked with Calkain on numerous occasions. They have always been
meticulous in their work ethic, providing superior service and extremely prompt
Jonathan W. Hipp, President and CEO, took the initiative to build upon his
attention to our needs. I highly recommend them.
decades of experience and performance and left a large international brokerage
firm to become an independent and innovative leader within the triple net lease - Jack Genende, Partner | U.S. Realty Advisors, LLC. (USRA)
investment community. Armed with a sole employee and a single office, the firm
has grown exponentially since its infancy in 2005.
$11.5 Billion $350 Million
in Closed Transactions in Active Listings
PATRICK NUTT
MANAGING PARTNER
(954) 302-7365
patrick.nutt@calkain.com CCAALLKKAAIIN
N.C
.CO
OMM
9
Contact Us Corporate Headquarters Washington, DC 12930 Worldgate Drive | Suite 150 Herndon, VA 20170 T: (703) 787-4714 • F: (703) 787-4783 Tampa 400 N. Tampa Street | Suite 2660 Tampa, FL 33602 T: (813) 282-6000 • F: (813) 282-6098 South Florida 200 SW 1st Avenue | Suite 880 Fort Lauderdale, FL 33301 T: (954) 302-7365 Atlanta 111 Village Parkway, Building 2 | Suite 202 Marietta, GA 30067 T: (404) 900-5629 Boston 101 Federal Street | Suite 1900 Boston, MA 02110 T: (617) 261-8584 CALKAIN.COM DISCLAIMER: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regula- tions, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make 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.
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