exclusively listed investment offering

Transcription

E XCLUSIVELY L ISTED
I NVESTMENT O FFERING
7 0 1 N W S H E R I D A N R D L AW TO N , O K 7 3 5 0 5
L AW TO N , O K L A H O M A M S A
High Volume Store Operating 24 Hours a Day
Located at the Center of Lawton’s Medical
& Retail Districts and Growing Employment
Only 24 Hour Walgreens in Lawton: 24 Hour Drive Thru
Great Access: Located on hard signalized northeast corner
Pharmacy and 24 Hour Store
Exceptional Sales: Very high store revenue versus
Walgreens national average
Beer/wine sales: 24 Hour beer/wine sales (with exception of
Sunday prior to Noon)
Five Year Options: Eight (five year) options not one year options
Strong Pharmacy Demographics: 1/3 of population
(nearly 20,000 residents) over the age of 45
Limited Competition: Only two other national competing
pharmacy chains within 3 mile radius (subject property only
24 hour store)
of NW Sheridan Road and NW Ferris Avenue with 3 points of
access
Strong Medical Corridor: Five hospitals in a three mile
radius, including the 253 bed Comanche Memorial County
Hospital (1.3 MI Southwest). Each hospital only has in-patient
pharmacies allowing only inside prescriptions to be filled and
not allowing walk-in business from outside customers
Growing Employment Market: Two miles from US military
base Fort Sill employing 55,000 residents, annual payroll of
over $779 and $1.2 Billion in planned construction until 2017
Stable Household Income Levels: 40% of the population
has average household incomes exceeding $50,000 annually
Strong Retail Hub: Property at the center of Lawton City
directly across the street from Wal-Mart Supercenter/ Sam’s
Club anchored center and minutes from the only regional mall
in southwest Oklahoma (Central Mall of Lawton 523,763 SQ FT)
Jason Stuart Pongsrikul
Managing Principal
Direct: 858.537.0828 | Fax: 858.271.6821
[email protected]
Scripps Northridge Technology Plaza
10636 Scripps Summit Court, Suite 149
San Diego, CA 92131 CA License # 01785565
Listed in Association with Braxton and Fears Realty Group OK License # 156674
1566740
www.pharmapropertygroup.com
1
S urrounding P harmacy
L ocations by D istance
Strategic Location for Walgreens: Only 24 hour pharmacy and 24 hour store for Walgreens in City of Lawton
Limited National Competition: Only two other national competing chain pharmacies in 3 mile radius
No Walgreens & CVS Market Saturation: Only one other Walgreens (two others in City of Lawton) in a 3 mile radius and one
CVS location in the entire City of Lawton
Strong Medical Corridor: Five hospitals in a three mile radius, including the 253 bed Comanche Memorial County Hospital (1.3
MI Southwest). Each hospital only has in-patient pharmacies allowing only inside prescriptions to be filled and not allowing walk-in
business from outside customers. Patients at these hospitals are also allowed to get prescriptions filled at outside nearby pharmacies
such as the subject location
Within 3 mile radius: 1/3 of population (nearly 20,000 residents) over the age of 45 with only two other national competing pharmacy
chains (subject property only 24 hour store)
Managing Principal
Direct: 858.537.0828 | Fax: 858.271.6821
[email protected]
2
S trong M edical C orridor
and S table E mployment
Walgreens Store #4703 benefits from being a 24 hour store through revenue from a variety of customers as it is located within
minutes of 5 hospitals and the US military base of Fort Sill that employees over 55,000 residents
Strong Medical Corridor: Five hospitals in a three mile radius, including the 253 bed Comanche Memorial County Hospital (1.3 MI
Southwest), Lawton Indian Hospital, Reynolds Army Community Hospital, the 245,000 square foot Southwestern medical center and
the Lawton Community Health Center. Each hospital only has in-patient pharmacies allowing only inside prescriptions to be filled and
not allowing walk-in business from outside customers
Fort Sill Employment: The US military base of Fort Sill has an annual payroll of over $779 million, total military population of over
55,000 and over $1.2 Billion in scheduled construction including over 100 new facilities through 2017. The impact on Lawton will be a
continued increasing housing prices and hotel occupancy rates, as well as booming residential construction and rental markets.
National and Local Employers: Goodyear Tire & Rubber Company has over 2,400 employees in Lawton and other major employers
include: Comanche County Memorial Hospital, Cameron University, Lawton Public Schools, and the Southwestern Medical Center.
Stable Household Income Levels: 40% of the population has average household incomes exceeding $50,000 annually
Managing Principal
Direct: 858.537.0828 | Fax: 858.271.6821
[email protected]
3
Located at the Center of
the Retail Hub of Lawton
The Lawton trade area is the largest retail hub between Dallas and Oklahoma City and is the subject property is located within
the retail center of the City of Lawton
Central Mall of Lawton: Located within minutes of the only regional mall in southwest Oklahoma. The 523,763 square foot
Central Mall of Lawton is anchored by Dillard’s, JC Penney, Sears and Old Navy.
Strong Anchor Corridor: Subject property is directly across the street from a Walmart Supercenter and minutes within anchored
centers of Whole Food, Home Depot, Lowes and Ross.
Future Retail and Hospitality Growth: With the $1.2 Billion planned improvements of Fort Sill all retailers and hotels will
benefit from increased revenue from construction activity and long-term stable positions that will be created by the new 100 facilities
being built at Fort Sill. There are plans for a new The Hilton Garden Hotel with Conference Center minutes from the property near the
Central Mall of Lawton.
Managing Principal
Direct: 858.537.0828 | Fax: 858.271.6821
[email protected]
4
PROPERTY &
LEASE INFORMATION
PRICING
Asking Price: $3,733,333
Asking CAP Rate: 7.5%
Annual Income: $280,000
Monthly Income: $23,333.33
LEASE OVERVIEW
Tenant: Walgreens (NYSE: WAG)
Lease Commencement: November 1st 1998
Landlord Income: Corporate Guarantee
Lease Term: 20 Years Initial Term/ Eight 5 Year Options
Credit Rating: Investment Grade
Options Begin: October 31st 2018
Lease Type: Triple Net
Landlord Responsible for Roof/Structure
PROPERTY INFORMATION
Year Built: 1998
Lot Size: 74,550 SQ FT
Address: 7 0 1 N W S H E R I D A N R D L AW TO N , O K 7 3 5 0 5
Building Size: 15,120 SQ FT
Oklahoma State Map
City of Lawton
Subject Property
The city of Lawton is the county seat of Comanche
County, in the U.S. state of Oklahoma. Located in the
southwestern region of Oklahoma, approximately 80
miles southwest of Oklahoma City, it is the principal city of
the Lawton Oklahoma Metropolitan StatisticArea. Lawton
is the 3rd largest MSA in the state and fifth largest city in
Oklahoma.
The city's proximity to Fort Sill Military Reservation gave
Lawton economic and population stability in the region
throughout the 20th century. Although Lawton's economy
is still largely dependent on Fort Sill, it has also grown to
encompass manufacturing, higher education, health care,
and retail. Interstate 44 and three major United States
Highways serve the city, while Lawton-Fort Sill Regional
Airport connects Lawton by air.
Managing Principal
Direct: 858.537.0828 | Fax: 858.271.6821
[email protected]
5
P ROPERTY LOCATION
A REA MAP
SUBJECT STATE
Subject
Property
Oklahoma
Managing Principal
Direct: 858.537.0828 | Fax: 858.271.6821
[email protected]
6
P roperty P hotos
At subject property facing North on Sheridan Rd
Property facing West
Facing Property South on Sheridan Rd
Walmart Supercenter directly across the street
Comanche County Memorial Hospital blocks from property
Managing Principal
Direct: 858.537.0828 | Fax: 858.271.6821
[email protected]
Intersection of Sheridan and Ferris
7
W ALGREENS
COMPANY SUMMARY
Walgreen Co. (NYSE:WAG), together with its subsidiaries, operates 7,907 drugstores in 50 states, the District of Columbia, and Puerto
Rico, as well as operated approximately 700 worksite health and wellness centers, and in-store convenient care clinics in the United States.
It sells prescription and non-prescription drugs; and general merchandise, which include household products, convenience and fresh
foods, personal care, beauty care, candy, photofinishing products, and seasonal items, as well as home medical equipment, contact lens,
vitamins and supplements, and other health and wellness solutions. The company offers its products through drugstores, mail, telephone,
and online. It also provides specialty pharmacy services; customers infusion therapy services consisting of administration of intravenous
medications for cancer treatments, chronic pain, heart failure, and other infections and disorders; and clinical services, such as laboratory
monitoring, medication profile review, nutritional assessments, and patient and caregiver education. In addition, it operates Take Care
Clinics to treat patients, give prescriptions, and administer immunizations and other vaccines. The company was founded in 1901 and
is based in Deerfield, Illinois
Managing Principal
Direct: 858.537.0828 | Fax: 858.271.6821
[email protected]
8
W ALGREENS
L OCATION BY STATE
• Includes drugstores, worksite health and wellness centers, infusion and respiratory services facilities, specialty pharmacies and mail service facilities
• In thousands of square feet.
• Based on store scanning information
Managing Principal
Direct: 858.537.0828 | Fax: 858.271.6821
[email protected]
9
Demographic Snapshot
Pop-Facts: Demographic Snapshot 2013 Report
Radius 1: 701 NW SHERIDAN RD, LAWTON, OK 73505-5202, aggregate
701
RD,NLAWTON,
aggregate
7 0 1 N W Radius
S H E R2:I D
ANW
N RSHERIDAN
D L AW TO
, O K 7 3OK
5 0 73505-5202,
5
Radius 3: 701 NW SHERIDAN
RD, LAWTON,
OK 73505-5202, aggregate
Pop-Facts:
Demographic
Snapshot 2013 Report
0.00 - 1.00 miles
0.00 - 3.00 miles
Description
Radius 1
%
Radius 2
%
Population
Radius 1: 701 NW SHERIDAN RD, LAWTON, OK 73505-5202, aggregate
Radius
701 NW SHERIDAN RD, LAWTON, OK 73505-5202, aggregate
20182:Projection
13,363
Radius
701 NW SHERIDAN RD, LAWTON, OK 73505-5202, aggregate
20133:Estimate
13,012
2010 Census
12,843
0.00 - 1.00
miles
Description
2000 Census
12,382
Radius
1
%
62,811
60,853
59,783
0.00 - 3.00
miles
55,5812
Radius
%
96,000
91,990
89,517
0.00 - 5.00
miles
76,677
Radius
3
%
4.36%
11,254 12.23
2.76%
16.75%
84,317
2013 Est. Population by Ancestry
Growth 2013-2018
Pop, Ancestry Unclassified
Growth 2010-2013
Growth 2000-2010
2013 Est. Pop Age 5+ by Language Spoken At Home
2.70%
1,934 14.86
1.32%
3.72%
12,020
3.22%
7,802 12.82
1.79%
7.56%
55,511
Only
Home
2013Speak
Est. Pop
byEnglish
Single at
Race
Class
Speak Asian/Pac. Isl. Lang. at Home
White Alone
Speak IndoEuropean Language at Home
Black or African American Alone
Speak Spanish at Home
Amer. Indian and Alaska Native Alone
Speak Other Language at Home
Asian Alone
Native Hawaiian and Other Pac. Isl. Alone
2013 Est. Population by Sex
Some Other Race Alone
Male
Two or More Races
Female
10,602
13,012
152
8,360
409
1,938
604
774
253
310
79
13,012
595
6,445
957
6,567
88.20
1.26
64.25
3.40
14.89
5.02
5.95
2.10
2.38
0.61
4.57
49.53
7.35
50.47
48,184
60,853
1,394
35,560
2,026
12,577
3,130
3,437
777
1,372
351
60,853
2,516
30,093
5,041
30,760
2013 Est. Pop Hisp or Latino by Origin
2013 Est. Population by Age
Not Hispanic or Latino
Age
0 - 4 or Latino:
Hispanic
Age
5-9
Mexican
Age
10 - 14
Puerto
Rican
Age
15 - 17
Cuban
Age
- 20 Hispanic or Latino
All18Other
Age 21 - 24
- 34or Latino by Single Race Class
2013Age
Est.25
Hisp
Age 35 - 44
White Alone
Age 45 - 54
Black or African American Alone
Age 55 - 64
American Indian and Alaska Native Alone
Age 65 - 74
Asian Alone
Age 75 - 84
Native Hawaiian and Other Pacific Islander Alone
Age 85 and over
Some Other Race Alone
Two or More Races
Age 16 and over
Age 18 and over
Age 21 and over
Age 65 and over
13,012
13,012
11,211
992
1,801
870
1,363
756
175
4230
581
263
913
2,268
1,801
1,582
798
1,617
80
1,418
101
792
8
526
3
274
578
233
10,267
9,970
9,389
1,591
86.16
7.62
13.84
6.69
75.68
5.81
9.72
3.25
0.00
4.47
14.60
7.02
17.43
12.16
44.31
12.43
4.44
10.90
5.61
6.09
0.44
4.04
0.17
2.11
32.09
12.94
78.90
76.62
72.16
12.23
60,853
60,853
52,214
5,342
8,639
4,618
5,276
3,980
1,837
2,227
24
3,127
1,501
4,456
10,828
8,639
7,339
3,934
6,937
558
5,702
432
3,368
67
2,155
31
775
2,446
1,170
46,204
44,687
41,559
6,298
2013 Est. Median Age
2013 Est. Average
Age
Prepared On: Wed Apr 03, 2013 Page
1
Of 12
0.00 - 5.00 miles
Radius 3
%
86.80
2.51
58.44
3.65
20.67
5.64
5.65
1.40
2.25
0.58
4.13
49.45
8.28
50.55
72,826
91,990
2,292
55,217
3,147
18,757
4,995
4,442
1,058
2,502
627
91,990
3,403
46,779
7,041
45,211
86.37
2.72
60.03
3.73
20.39
5.92
4.83
1.25
2.72
0.68
3.70
50.85
7.65
49.15
85.80
8.78
14.20
7.59
61.07
6.54
21.26
3.66
0.28
5.14
17.37
7.32
17.79
12.06
45.54
11.40
6.46
9.37
5.00
5.53
0.78
3.54
0.36
1.27
28.31
13.54
75.93
73.43
68.29
10.35
91,990
91,990
79,559
7,673
12,431
6,725
7,545
5,962
2,735
3,309
24
5,783
2,127
7,418
16,347
12,431
11,176
5,924
10,269
876
8,285
545
4,913
104
3,006
53
1,124
3,292
1,637
70,589
68,321
62,538
9,043
86.49
8.34
13.51
7.31
60.70
6.48
22.00
3.60
0.19
6.29
17.11
8.06
17.77
12.15
47.66
11.16
7.05
9.01
4.38
5.34
0.84
3.27
0.43
1.22
26.48
13.17
76.74
74.27
67.98
9.83
33.7
31.2
30.6
36.50By:
Prepared
34.10
33.70
Nielsen Solution Center 1 800 866 6511
© 2013 The Nielsen Company. All rights reserved.
Jason Stuart Pongsrikul Prepared For:
Managing Principal
Direct: 858.537.0828 | Fax: 858.271.6821
Prepared By:
Prepared On: Wed Apr 03, 2013 Page
3
Of 12
[email protected]
Nielsen Solution Center 1 800 866 6511
10636 Scripps Summit Court,
Suite
149
Prepared For:
© 2013 The Nielsen Company. All rights reserved.
10
RadiusRadius
1: 701 1:
NW
701SHERIDAN
NW SHERIDAN
RD, LAWTON,
RD, LAWTON,
OK 73505-5202,
OK 73505-5202,
aggregate
aggregate
RadiusRadius
2: 701 2:
NW
701SHERIDAN
NW SHERIDAN
RD, LAWTON,
RD, LAWTON,
OK 73505-5202,
OK 73505-5202,
aggregate
aggregate
RadiusRadius
3: 701 3:
NW
701SHERIDAN
NW SHERIDAN
RD, LAWTON,
RD, LAWTON,
OK 73505-5202,
OK 73505-5202,
aggregate
aggregate
0.00 - 1.00
0.00 miles
- 1.00 miles 0.00 - 3.00
0.00 miles
- 3.00 miles 0.00 - 5.00
0.00 miles
- 5.00 miles
Description
Description
RadiusRadius
1
1%
% RadiusRadius
2
%
2
% RadiusRadius
3
%
3
%
FamilyFamily
Households
Households
3,222 3,222
57.44 57.44 14,82514,825
61.18 61.18
21,97521,975
63.79 63.79
Nonfamily
Nonfamily
Households
Households
2,387 2,387
42.56 42.56
9,406 9,406
38.82 38.82
12,47312,473
36.21 36.21
Household Data
2013 Est.
2013
Group
Est. Group
Quarters
Quarters
Population
Population
474
2013 HHs
2013by
HHs
Ethnicity,
by Ethnicity,
Hispanic/Latino
Hispanic/Latino
612 10.91
612 10.91
2013 Est.
2013
HHs
Est.by
HHs
HHby
Income
HH Income
CY HHs,
CYInc
HHs,
< $15,000
Inc < $15,000
CY HHs,
CYInc
HHs,
$15,000
Inc $15,000
- $24,999
- $24,999
CY HHs,
CYInc
HHs,
$25,000
Inc $25,000
- $34,999
- $34,999
CY HHs,
CYInc
HHs,
$35,000
Inc $35,000
- $49,999
- $49,999
CY HHs,
CYInc
HHs,
$50,000
Inc $50,000
- $74,999
- $74,999
CY HHs,
CYInc
HHs,
$75,000
Inc $75,000
- $99,999
- $99,999
CY HHs,
CYInc
HHs,
$100,000
Inc $100,000
- $124,999
- $124,999
CY HHs,
CYInc
HHs,
$125,000
Inc $125,000
- $149,999
- $149,999
CY HHs,
CYInc
HHs,
$150,000
Inc $150,000
- $199,999
- $199,999
CY HHs,
CYInc
HHs,
$200,000
Inc $200,000
- $249,999
- $249,999
CY HHs,
CYInc
HHs,
$250,000
Inc $250,000
- $499,999
- $499,999
CY HHs,
CYInc
HHs,
$500,000+
Inc $500,000+
474
5,609 5,609
1,109
872
679
824
1,322
417
180
74
74
19
27
11
1,109
19.77
15.55
872
12.11
679
14.69
824
1,322
23.57
417
7.43
180
3.21
1.32
74
1.32
74
0.34
19
0.48
27
0.20
11
2,902 2,902
7,607 7,607
2,642 2,642
10.90 10.90
3,608 10.47
3,608 10.47
24,23124,231
19.77
15.55
12.11
14.69
23.57
7.43
3.21
1.32
1.32
0.34
0.48
0.20
4,839
3,405
3,428
3,805
5,111
2,011
782
315
225
95
138
79
4,839
19.97
3,405
14.05
3,428
14.15
3,805
15.70
5,111
21.09
2,011
8.30
782
3.23
315
1.30
225
0.93
0.39
95
138
0.57
0.33
79
34,44834,448
19.97
14.05
14.15
15.70
21.09
8.30
3.23
1.30
0.93
0.39
0.57
0.33
5,787
4,184
4,477
5,420
7,740
3,412
1,516
631
567
258
340
117
5,787
16.80
4,184
12.15
4,477
13.00
5,420
15.73
7,740
22.47
3,412
9.90
1,516
4.40
1.83
631
1.65
567
0.75
258
0.99
340
0.34
117
2013 Est.
2013
Average
Est. Average
Household
Household
IncomeIncome
$47,012
$47,012
$47,534
$47,534
$54,577
$54,577
2013 Est.
2013
Median
Est. Median
Household
Household
IncomeIncome
$37,638
$37,638
$36,748
$36,748
$42,682
$42,682
White Alone
White Alone
40,18440,184
39,28339,283
45,56245,562
Two orTwo
More
orRaces
More Races
42,51442,514
33,88033,880
34,39134,391
16.80
12.15
13.00
15.73
22.47
9.90
4.40
1.83
1.65
0.75
0.99
0.34
2013 Median
2013 Median
HH IncHH
byInc
Single
by Single
Race Class.
Race Class.
or Ethn
or Ethn
Black or
Black
African
African
American
American
Alone
22,046 to be reliable,
28,97128,971
35,048
Disclaimer:
Thisorinformation
hasAlone
been secured from sources22,046
we believe
but we make no35,048
represenAmerican
American
Indian Indian
and Alaska
and Alaska
Native Native
Alone Alone
30,78730,787
29,52129,521
33,15133,151
tations or warranties, expressed or implied, as to the accuracy of the information. References to square footage,
Asian Alone
Asian Alone
28,58528,585
34,19634,196
40,15440,154
age, distances,
lotHawaiian
size,
store
opening
dates,
demographic
information,
&
Native Native
Hawaiian
and Other
and Pacific
Other
Pacific
Islander
Islander
Alone
Alone
68,78268,782 aerial information,
69,15769,157tenant information,
66,85366,853
Other
Some Race
Other
Alone
Race Alone
54,02954,029
45,85445,854
49,38449,384
storeSome
operating
information
are approximate.
BuyerHispanic
and Hispanic
their
representatives
understands that Walgreens34,531
tenant
information 39,282
was gathered
deemed
or Latino
or Latino
34,531
39,282 by sources
44,791
44,791
to beNot
reliable
public quarterly and annual
reports.
information was42,482
provided
Hispanic
Not including
Hispanic
or Latino
or Walgreens
Latino
38,044
38,044 Demographic
36,50136,501
42,482
by Nielsen Information Systems. By accepting this package, buyer and their representatives must verify the infor2013 Est.
2013
Family
Est. Family
HH Type,
HH Presence
Type, Presence
Children
Own Children
3,222 3,222
21,97521,975
mation
and
bears
all risk
for any Own
inaccuracies.
© 2013 Pharma
Property Group. 14,82514,825
Married-Couple
Married-Couple
Family,Family,
own children
own children
Married-Couple
Married-Couple
Family,Family,
no ownnochildren
own children
775 24.05
775 24.05
1,028 1,028
31.91 31.91
3,684 3,684
24.85 24.85
4,862 4,862
32.80 32.80
6,012 6,012
27.36 27.36
7,667 7,667
34.89 34.89
By:
By:
PreparedPrepared
On: Wed
On:
AprWed
03, Apr
201303,Page
2013 Page
6
Of6 12 Of 12PreparedPrepared
Nielsen Nielsen
SolutionSolution
Center 1Center
800 866
1 800
6511
866 6511
PreparedPrepared
For: For:
© 2013 ©
The
2013
Nielsen
The Nielsen
Company.
Company.
All rights
Allreserved.
rights reserved.
Managing Principal
Direct: 858.537.0828 | Fax: 858.271.6821
[email protected]
www.pharmapropertygroup.com 11

exclusively listed investment offering

Transcription

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