CVS PHARMACY 13580 Grand River Avenue Detroit, MI 48227 TABLE of CONTENTS

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CVS PHARMACY 13580 Grand River Avenue Detroit, MI 48227 TABLE of CONTENTS NET LEASE INVESTMENT OFFERING CVS PHARMACY 13580 Grand River Avenue Detroit, MI 48227 TABLE OF CONTENTS TABLE OF CONTENTS I. Executive Profile II. Location Overview III. Market & Tenant Overview Executive Summary Photographs Demographic Report Investment Highlights Aerial Market Overview Property Overview Site Plan Tenant Overview Map NET LEASE INVESTMENT OFFERING DISCLAIMER STATEMENT DISCLAIMER The information contained in the following Offering Memorandum is proprietary and strictly confidential. STATEMENT: 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. NET LEASE INVESTMENT OFFERING EXECUTIVE SUMMARY EXECUTIVE The Boulder Group is pleased to exclusively market for sale a single tenant net leased CVS Pharmacy located in SUMMARY: Detroit, Michigan. CVS Pharmacy has successfully operated at this location since 2001 and CVS extended their lease in 2018 for fifteen years showing their commitment to the location. CVS Pharmacy is an investment grade rated company (S&P: BBB+) and publicly traded on the New York Stock Exchange using symbol “CVS”. The CVS Pharmacy property features a drive-thru and has excellent visibility at its hard corner location along Grand River Avenue (17,498 VPD). The property is immediately off of Interstate 96 (178,000 VPD), which connects the property to downtown Detroit. Retailers in the immediate area include McDonald’s, Sherwin-Williams, Advance Auto Parts and Family Dollar. The property is also located within close proximity to multiple residential communities, large industrial properties and schools. There are over 411,000 people living within five miles of the property. CVS Pharmacy has approximately fifteen years remaining on their lease that expires October 31, 2033 and features six 5-year renewal option periods with 2.5% rental escalations in each option. CVS Pharmacy is the nation’s drugstore chain along with total prescription revenue and operates 9,800+ locations in 49 states, the District of Columbia, Puerto Rico and Brazil. NET LEASE INVESTMENT OFFERING INVESTMENT HIGHLIGHTS INVESTMENT • CVS Pharmacy has successfully operated at this location since 2001; CVS extended their lease in 2018 for HIGHLIGHTS: fifteen years showing their commitment to the location • Long term lease with approximately fifteen years remaining • Absolute NNN • Investment grade rated tenant (S&P: BBB+) • Well located at the corner of a signalized intersection where it has excellent visibility along Grand River Avenue (17,498 VPD) • Immediately off of Interstate 96 (178,000 VPD) • Retailers in the immediate area include McDonald’s, Sherwin-Williams, Advance Auto Parts and Family Dollar • 411,000 people living within five miles of the property NET LEASE INVESTMENT OFFERING PROPERTY OVERVIEW PROPERTY Price: $1,819,928 OVERVIEW: Cap Rate: 5.55% Net Operating Income: $101,006 Renewal Options: Six 5-Year (2.5% increase in each option) Lease Expiration Date: October 31, 2033 Tenant: Woodward Detroit CVS, L.L.C. Guaranty: CVS Health Corporation Credit Rating: BBB+ (Standard & Poor’s) Lease Type: NNN Year Built: 2001 Rentable Square Feet 10,842 SF Lot Size: 0.96 AC NET LEASE INVESTMENT OFFERING PHOTOGRAPHS NET LEASE INVESTMENT OFFERING AERIAL NET LEASE INVESTMENT OFFERING SITE PLAN NET LEASE INVESTMENT OFFERING MAP NET LEASE INVESTMENT OFFERING MAP NET LEASE INVESTMENT OFFERING DEMOGRAPHIC REPORT DEMOGRAPHIC Population 1-Mile 3-Mile 5-Mile REPORT: Total Population 11,941 160,140 411,876 Total Households 4,475 59,916 152,218 Income 1-Mile 3-Mile 5-Mile Average Household Income $35,671 $42,161 $44,932 NET LEASE INVESTMENT OFFERING MARKET OVERVIEW MARKET Detroit, Michigan OVERVIEW: Detroit is the most populous city in Michigan, the fourth-largest city in the Midwest and the largest city on the United States–Canada border. It is the seat of Wayne County, the most populous county in the state. Detroit has a population of over 678,000 people making it the 21st-most populous city in the United States. The metropolitan area, known as Metro Detroit, is home to 4.3 million people, making it the second-largest in the Midwest, and lies at the heart of the Great Lakes Megalopolis area, with around 60 million people. Roughly one-half of Michigan’s population lives in Metro Detroit alone. The City of Detroit anchors the second-largest economic region in the Midwest. Detroit was founded on July 24, 1701 by the French explorer and adventurer Antoine de la Mothe Cadillac and a party of settlers. During the 19th century, it became an important industrial hub at the center of the Great Lakes region. With expansion of the American automobile industry in the early 20th century, the Detroit area emerged as a significant metropolitan region within the United States. Several major corporations are based in the city, including three Fortune 500 companies. The most heavily represented sectors are manufacturing (particularly automotive), finance, technology, and health care. The most significant companies based in Detroit include: General Motors, Quicken Loans, Ally Financial, Compuware, Shinola, American Axle, Little Caesars, DTE Energy, Lowe Campbell Ewald, Blue Cross Blue Shield of Michigan, and Rossetti Architects. With its proximity to Canada and its facilities, ports, major highways, rail connections and international airports, Detroit is an important transportation hub. The city has three international border crossings, the Ambassador Bridge, Detroit–Windsor Tunnel and Michigan Central Railway Tunnel, linking Detroit to Windsor, Ontario. The Ambassador Bridge is the single busiest border crossing in North America, carrying 27% of the total trade between the U.S. and Canada. Detroit Metropolitan Wayne County Airport (DTW), the principal airport serving Detroit, is located in nearby Romulus. DTW is a primary hub for Delta Air Lines and a secondary hub for Spirit Airlines. Detroit is one of 13 American metropolitan areas that are home to professional teams representing the four major sports in North America. All these teams but one play within the city of Detroit itself. www.detroitmi.gov NET LEASE INVESTMENT OFFERING TENANT OVERVIEW TENANT CVS Pharmacy OVERVIEW: CVS Pharmacy is engaged in the retail drugstore business. The Company operates 9,800+ locations in 49 states, the District of Columbia, Puerto Rico and Brazil. CVS Pharmacy is the nation’s largest drugstore chain along with total prescription revenue. As a retail division of CVS Caremark, CVS Pharmacy retail locations sell prescription drugs and a wide variety of general merchandise including over-the-counter medication, beauty products and cosmetics, film and photo finishing services, seasonal merchandise and convenience foods. CVS Pharmacy also offers healthcare services through their MinuteClinic locations, most of which are located within their stores. CVS is headquartered in Woonsocket, Rhode Island and was founded in 1963. CVS Pharmacy is a publicly traded company on the New York Stock Exchange (Symbol: CVS) with a market capitalization in excess of $80 billion. CVS is an investment grade rated tenant with a Standard & Poor’s rating of BBB+. Website: www.cvs.com Founded: 1963 Number of Locations: 9,800+ Number of Employees: 240,000+ Stock Symbol: CVS (New York Stock Exchange) Standard & Poor’s Rating: Investment Grade: BBB+ Headquarters: Woonsocket, Rhode Island NET LEASE INVESTMENT OFFERING Randy Blankstein President 847.562.0003 [email protected] Jimmy Goodman Partner 847.562.8500 [email protected] 3520 Lake Avenue, Suite 203 Wilmette, IL 60091 www.bouldergroup.com.
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