WALGREENS 9976 Jefferson Ave, Newport News, VA 23605

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1 OFFERING MEMORANDUM Charlotte, NC WALGREENS 9976 Jefferson Ave, Newport News, VA

2 TABLE OF CONTENTS 03 EXECUTIVE OVERVIEW 04 FINANCIAL OVERVIEW 05 TENANT OVERVIEW 07 AREA OVERVIEW JON PRATER ASSOCIATE DIRECT (949) MOBILE (626) LIC # (CA) ARON CLINE SVP & SENIOR DIRECTOR DIRECT (949) MOBILE (818) aron.cline@matthews.com LIC # (CA) BROKER OF RECORD KYLE MATTHEWS LIC # (VA) 2

3 Executive Charlotte, Overview NC Investment Highlights Nationally Recognized Investment Grade Tenant Lease is fully guaranteed by Walgreens Co. (S&P s Rated BBB) The company is ranked #17 on the Fortune 500, for 2017 Prototype Store Format Most recent prototype store format with a drive-thru Hard Signalized Corner on main thoroughfare with ± 51,000 VPD (Jefferson and Main) Strong Demographics 5-Mile Population exceeding 168,000 Adjacent to James River Convalescent & Rehabilitation Center 17-Year Operating History at the Location High Average Household Income ± $70,000 within 1-mile Oversized lot at ± acres Excellent Visibility from Jefferson Ave & Main St 3

4 Financial Executive Overview Annualized Operating Data Monthly Rent Annual Rent Rent/SF Cap Rate Current $26, $314, $ % Options $26, $314, $ % Tenant Summary Investment Summary»» LIST PRICE $4,272,108 Tenant Trade Name Type of Ownership Lease Guarantor Lease Type Walgreens Fee Simple Corporate NN+»» NOI (YEAR 1) $314,000 Roof and Structure Term Remaining on Lease Owner Responsibility ± 2 Years»» CAP RATE (YEAR 1)»» TOTAL BUILDING AREA»» TOTAL LAND AREA 7.35% ± 13,905 SF ± 1.84 Acres Original Lease Term 20 Years Lease Commencement Date 3/24/1999 Rent Commencement 4/1/2000 Lease Expiration Date 3/31/2020 Options Seven, 5-Year Options 4

5 Tenant Overview Charlotte, NC JEFFERSON AVE ± 40,000 VPD MAIN ST ± 11,000 VPD PROPERTY NAME Property Address SITE DESCRIPTION Number of Stories Walgreens 9976 Jefferson Ave Newport News, VA One Year Built 1999 GLA Lot Size Type of Ownership Landscaping Topography ± 13,905 SF ±1.84 AC (80,150 SF) Fee Simple Professional Generally Level Tenant Overview Company Name Walgreen Co. Ownership Public Year Founded 1901 Industry Drug Store Headquarters Deerfield, IL Website The nation s #1 drugstore chain, Walgreens, operates close to 8,300 stores in all 50 US states, the District of Columbia, the Virgin Islands and Puerto Rico. Prescription drugs are the focus of the company as they account for close to two-thirds of sales; the rest comes from general merchandise, over-the-counter medications, cosmetics, and groceries. Most locations offer drive-through pharmacies and one-hour photo processing, which separates them from competition. Recently, Walgreen Co. fully acquired Alliance Boots, Europe s leading drug wholesaler, to create Walgreens Boots Alliance, of which it is a subsidiary. $76.4B 253,400 8,300+ Revenue Team Members Locations 5

6 6 Surrounding Tenants

7 Area Overview Charlotte, NC Newport News, VA Newport News great location and rich history, which begins shortly after the founding of Jamestown, has shaped the city into what it is today. Located on the banks of the Hampton Roads harbor in southeastern Virginia, Newport News is located near Hampton, minutes from Williamsburg and a short drive to Virginia Beach and the Atlantic Ocean. From this central Coastal Virginia location, you can experience ships, history and the great outdoors. From landing at Jamestown in 1607, to the Revolutionary War, the War of 1812, and the 1862 Peninsula Campaign where the famous Battle of the CSS Virginia and the USS Monitor took place, visitors can step back in time and learn about our nation s beginning while visiting our region. With the USS Monitor Center, historic homes, battle sites, fortifications, monuments and extraordinary collections of artifacts, history will be at the top of your list! After reliving our nation s past, come and relax and enjoy one of our many scenic parks filled with every activity imaginable from hiking, camping, fishing, canoeing, golf and more to fun-filled attractions that let you get up close and personal with nature and Virginia s wildlife. Newport News is also home to Fort Eustis and Christopher Newport University. 7 7

8 Area Overview Demographics POPULATION 1 - MILE 3 - MILE 5 - MILE 2010 Census 12,098 69, , Estimate 11,747 68, , Projection 11,697 68, ,365 HOUSEHOLDS 1 - MILE 3 - MILE 5 - MILE 2010 Census 4,961 27,724 67, Estimate 4,859 27,599 69, Projection 4,852 27,816 70,493 INCOME 1 - MILE 3 - MILE 5 - MILE 2018 Est. Average Household Income $77, $71, $67,

9 Confidentiality Agreement & Disclaimer This Offering Memorandum contains select information pertaining to the business and affairs of Walgreens located at 9976 Jefferson Ave, Newport News, VA ( Property ). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence. By acknowledging your receipt of this Offering Memorandum for the Property, you agree: 1. The Offering Memorandum and its contents are confidential; 2. You will hold it and treat it in the strictest of confidence; and 3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller. Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered. If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum. A prospective purchaser s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property. This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

10 Executive Overview JON PRATER ASSOCIATE DIRECT (949) MOBILE (626) LIC # (CA) ARON CLINE SVP & SENIOR DIRECTOR DIRECT (949) MOBILE (818) aron.cline@matthews.com LIC # (CA) BROKER OF RECORD KYLE MATTHEWS LIC # (VA) Offering Memorandum WALGREENS 9976 Jefferson Ave, Newport News, VA