NET LEASE INVESTMENT OFFERING

WALGREENS 316 W Aspen Avenue Fruita, CO 81521 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 Location Map Attractions 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. The owners or direct family members are licensed real estate brokers in the State of Illinois.

NET LEASE INVESTMENT OFFERING EXECUTIVE SUMMARY

EXECUTIVE The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens located Fruita, SUMMARY: Colorado. The property is strategically located just off of both Interstate 70 and Highway 50 at the corner of a signalized intersection. The Walgreens lease expires June 30, 2033 and is an absolute triple net lease.

The 14,490 square foot Walgreens is strategically located at the signalized intersection of Highway 30 and Aspen Ave where it benefits from excellent visibility and easy access. This strategic location has limited competition with the nearest competing Walgreens located approximately 12 miles east of the property. The absolute triple net Walgreens lease has approximately 15 years remaining in the primary term. National retailers in the immediate area include City Market (), Dollar General, , O’Reilly Auto Parts, McDonald’s, Taco Bell and Burger King. The immediate area is also home to Shelledy Elementary School, Fruita Middle School, Fruita High School, Fruita 8/9 School and Rim Rock Elementary School.

Fruita has experienced more than 50% population growth in the past 10 years. Tourism is also up 78% since 2014, contributing more than $45 million to the local economy. The Colorado National Monument saw over half a million visitors in 2015. In 2011, a $12 million community center and library was built just north of the Walgreens property to serve the community. Additionally, the Colorado Canyons Hospital & Medical Center was built in 2014 for $49 million and is 140,000 square feet. There are over 45,000 people living within 10 miles of the property and have an average household income in excess of $100,000.

Walgreens is the largest drug retailing chain in the United States and has over 8,175 locations in the U.S.A. Walgreens is publicly traded on the (WBA) with a market capitalization in excess of $88 billion. Both Walgreen Co. and , Inc. are investment grade rated each with a Standard & Poor’s rating of BBB.

NET LEASE INVESTMENT OFFERING INVESTMENT HIGHLIGHTS

INVESTMENT • Long lease term with approximately 15 years remaining in the primary term HIGHLIGHTS: • Absolute NNN – No Landlord Responsibilities

• Investment grade rated tenant (S&P: BBB)

• Strategically located just off of both Interstate 70 and Highway 50 at the corner of a signalized intersection

• Limited competition

• Drive-Thru Pharmacy

• Fruita has experienced more than 50% population growth in the past 10 years

• Tourism is up 78% since 2014, contributing more than $45 million to the local economy

• Over 45,000 people living within 10 miles of the property and have an average household income in excess of $100,000

NET LEASE INVESTMENT OFFERING PROPERTY OVERVIEW

PROPERTY Price: $6,070,000 OVERVIEW: Cap Rate: 5.85% Net Operating Income: $355,000 Rent Commencement Date: June 16, 2008 Lease Expiration Date: June 30, 2033 Renewal Options: Fifty Years (with 12 months’ notice) Tenant: Walgreens Credit Rating: Investment Grade (S&P: BBB) Year Built: 2008 Lease Type: Absolute NNN – No Landlord Responsibilities Building Size: 14,490 SF Land Size: 1.77 Acres

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 ATTRACTIONS MAP

NET LEASE INVESTMENT OFFERING DEMOGRAPHIC REPORT

DEMOGRAPHIC Population 3-Mile 5-Mile 10-Mile REPORT: Total Population 14,956 18,090 45,144 Total Households 5,490 6,648 17,455

Income 3-Mile 5-Mile 10-Mile

Average Household Income $82,629 $88,520 $100,376

NET LEASE INVESTMENT OFFERING MARKET OVERVIEW

MARKET Fruita, Colorado OVERVIEW: Fruita is located in western Mesa County, Colorado, United States. Fruita is part of the Grand Junction Metropolitan Statistical Area and within the Grand Valley. The geography is identified by the bordering Colorado River (historically known as the Grand River) on the southern edge of town, the Uncompahgre Plateau known for its pinyon-juniper landscape, and the Book Cliffs range on the northern edge of the Grand Valley. The population was 12,646 at the 2010 census.

Economically, it started out as a fruit producing region, but today it is well known for its outdoor sports such as mountain biking, hiking, and rafting, its proximity to the Colorado National Monument, and its annual festivals. Fruita has been the winner of the Governor’s Smart Growth and Development Award for four consecutive years. The city motto is “Honor the Past, Envision the Future”.

NET LEASE INVESTMENT OFFERING TENANT OVERVIEW

TENANT Walgreens OVERVIEW: Walgreens Boots Alliance, Inc. operates as a pharmacy-led health and wellbeing company. The company operates through three segments: Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment sells prescription drugs and an assortment of general merchandise, including non-prescription drugs, beauty products, photo finishing, seasonal merchandise, greeting cards, and convenience foods through its retail drugstores and convenient care clinics. It also provides specialty pharmacy services; and manages in-store clinics under the brand Healthcare Clinic. As of January 31, 2017, this segment operated 8,175 retail stores under the Walgreens and Duane Reade brands in the United States; and 7 specialty pharmacy locations, as well as managed approximately 400 Healthcare Clinics. Walgreens Boots Alliance, Inc. was founded in 1901 and is based in Deerfield, Illinois.

The Walgreen Company is the largest drug retailing chain in the United States. The company is publicly traded on the (Symbol: WBA) with a market capitalization in excess of $88 billion. Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment grade rated each with a Standard & Poor’s rating of BBB. In October 2016 Walgreens Boots Alliance received the United Nations Foundation Global Leadership Award for its commitment to the UN’s Sustainable Development Goals.

Website: www.walgreens.com Number of Locations: 8,175 Stock Symbol: WBA (NASDAQ) Standard & Poor’s Rating: BBB Market Capitalization: $88 Billion

NET LEASE INVESTMENT OFFERING Randy Blankstein President 847.562.0003 [email protected]

John Feeney Senior Vice President 847.562.9280 [email protected]

3520 Lake Avenue, Suite 203 Wilmette, IL 60091

www.bouldergroup.com