CALL FOR OFFERS - THURSDAY, OCTOBER 22ND, 2015


90 ASSETS | NATIONWIDE  


OFFERS DUE: THURSDAY, OCTOBER 22, 2015 at 5 PM EST

Please submit all offers to will.pike@cbre.com



INVESTMENT OVERVIEW

 
CBRE, as the exclusive advisor to Walgreens, is pleased to offer for sale the Walgreens Sale-Leaseback Portfolio (the “Portfolio”). The Portfolio consists of 90 retail drugstore locations totaling 1,329,036 square feet. The properties will be net leased to Walgreen Co., a direct wholly owned subsidiary of Walgreens Boots Alliance, Inc. (S&P: BBB as of September 29, 2015; NASDAQ: WBA). The leases will be structured with an initial lease term of 13 years with 5.00% rent escalations every 5 years throughout the initial term and in the first four 5-year renewal options. Following the first four 5-year renewal options, there will be eight additional 5-year renewal options (with a market rent adjustment at the commencement of each option period) for a total potential term of 73 years. The Portfolio features an initial net operating income of approximately $28.56 million which equates to an average rental rate of $21.5 per square foot. The properties are strategically positioned in strong commercial corridors in strategic markets for Walgreens across 17 states providing geographic diversity.  

 
FLEXIBLE BIDDING STRUCTURE
 
The Portfolio is comprised of 3 separate tranches which were strategically constructed to provide near equality in key aspects including: size, geography, and the underlying real estate. Each tranche includes 30 properties and a flexible bidding structure which will offer investors the opportunity to bid on the entire Portfolio or on individual tranches. CBRE will be conducting a formal call for offers and will notify all prospective investors of the final bid deadline once it has been set.

FOR MORE
INFORMATION
PLEASE CONTACT:


WILL PIKE
Senior Vice President
+1 404 923 1381
will.pike@cbre.com

 CHRIS BOSWORTH
Executive Vice President
+1 404 923 1486
chris.bosworth@cbre.com 		 BRIAN PFOHL
Senior Financial Analyst
+1 404 504 7893
brian.pfohl@cbre.com 



ALINA MALINAUSKAITE
Capital Markets Analyst
+1 404 812 5065
alina.malinauskaite@cbre.com


 

DAVID HOU
Capital Markets Analyst
+1 404 504 5939
david.hou@cbre.com


FINANCING INQUIRIES:


 

BRUCE FRANCIS
Vice Chairman
+1 602 735 1781
bruce.francis@cbre.com



DANA SUMMERS
Vice President
+1 602 735 1780
dana.summers@cbre.com
toward a greener tommorrow
 
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