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Walgreens 4880 Central Avenue NE JDS Real Estate Services, Inc. MN Lic. # 40407966 Hilltop, MN 55421 2 WALGREENS EXCLUSIVELY MARKETED BY:

OUT OF STATE COOPERATING BROKERS

JENNIFER D. STEIN AMAR GOLI JOHN FRAMPTON CLARISSA TARANDY JDS Real Estate Services, Inc. Sands Investment Group Sands Investment Group Sands Investment Group MN Lic. # 40407966 Lic. # 310575 Lic. # 312517 Lic. # 321766

213.446.5366 | DIRECT 980.729.5626 | DIRECT 980.729.5628 | DIRECT 704.709.5802 | DIRECT [email protected] [email protected] [email protected] [email protected] 3 WALGREENS TABLE OF CONTENTS

04 06 07 12 14

INVESTMENT OVERVIEW LEASE ABSTRACT PROPERTY OVERVIEW AREA OVERVIEW TENANT OVERVIEW Investment Summary Lease Summary Property Images City Overview Tenant Profile Investment Highlights Rent Roll Location, Aerial & Retail Maps Demographics

© 2020 JDS Real Estate Services, Inc. (JDS) in association with Sands Investment Group (SIG). The information contained in this ‘Offering Memorandum,’ has been obtained from sources believed to be reliable. JDS & SIG does not doubt its accuracy; however, JDS & SIG makes no guarantee, representation or warranty about the accuracy contained herein. It is the responsibility of each individual to conduct thorough due diligence on any and all information that is passed on about the property to determine its accuracy and completeness. Any and all projections, market assumptions and cash flow analysis are used to help determine a potential overview on the property, however there is no guarantee or assurance these projections, market assumptions and cash flow analysis are subject to change with property and market conditions. JDS & SIG encourages all potential interested buyers to seek advice from your tax, financial and legal advisors before making any real estate purchase and transaction. WALGREENS 4 INVESTMENT SUMMARY

We Are Pleased to Offer For Sale the 13,650 SF Walgreens Located at 4880 Central Avenue NE in Hilltop, MN. This Opportunity Includes an Investment- Grade Tenant With an Absolute Triple Net Lease, Located in an Area With Minimal Competition, Providing For a Secure Investment.

OFFERING SUMMARY

PRICE $ 5,600,000

CAP 7.07%

NOI $396,000

PRICE PER SF $410.26

GUARANTOR

PROPERTY SUMMARY

ADDRESS 4880 Central Ave NE Hilltop, MN 55421

COUNTY Anoka BUILDING AREA 13,650 SF LAND AREA 1.36 AC BUILT 2002 ACTUAL PROPERTY IMAGE 5 WALGREENS HIGHLIGHTS

§ Investment-Grade Tenant, Absolute Triple Net § Dominant Retail Destination in North (NNN) Lease Opportunity With Zero Landlord MSA Responsibilities § MedExpress Location - WAG Selected Some of § Industry-Leading Tenant (: WBA) Their Top Stores to Include MedExpress Urgent Care Within the Store as Part of a New Concept § Strong Corporate Guarantee in Place With Long Term Operating History at Location - Long Term § Dense Market Area With Strong Daytime Security and Stability For the Investor Employment of Over 163,500 Employees Within a 5-Mile Radius § Walgreens Dominates the Minneapolis Market and Has Minimal Competition From CVS Along § Main Artery From Northern Minneapolis Into With Zero Rite Aids in Minneapolis Downtown

§ Dense Urban Infill Location - Over 285,484 § Neighboring Tenants Include: ALDI, Jimmy Residents With an Average Household Income of John’s, Savers, Subway, Planet Fitness, Taco $81,205 Within a 5-Mile Radius of the Property Bell, Sonic, Chipotle and More LEASE SUMMARY 6

TENANT Walgreens PREMISES A Building of Approximately 13,650 SF LEASE COMMENCEMENT February 19, 2002 LEASE EXPIRATION December 31, 2027 LEASE TERM 7+ Years Remaining RENEWAL OPTIONS 10 x 5 Years RENT INCREASES Flat LEASE TYPE Absolute Triple Net (NNN) PERMITTED USE Pharmacy/Retail PROPERTY TAXES Tenant’s Responsibility Tenant Shall, During the Entire Term, Procure, Pay, INSURANCE and Keep in Full Force Effect Full Public Liability and Property Damage Insurance COMMON AREA Tenant’s Responsibility ROOF & STRUCTURE Tenant’s Responsibility Tenant, at Tenant's Cost and Expense, May Make REPAIRS & MAINTENANCE Such Non-Structural Alterations and Additions to the Leased Premises as Tenant Desires HVAC Tenant’s Responsibility Tenant Pays For All Charges: Gas, Water, Electricity, UTILITIES Sewer, Telephone, Etc. RIGHT OF FIRST REFUSAL Yes

SQUARE ANNUAL RENT FOOTAGE BASE RENT PER SF

13,650 SF $396,000 $29.01

ACTUAL PROPERTY IMAGE 7

ACTUAL PROPERTY IMAGES 8 North Park Elementary School 9

Central Ave NE

49th Ave NE

Columbia Academy 10

Columbia Heights High School

Grand Central Lofts

NE Halal Market & Deli

49 Central Ave NE th Moler Barber Ave NE School

Columbia Academy 11 Central Ave NE NE Ave Central

49th Ave NE HILLTOP | ANOKA COUNTY | 12 Hilltop, Minnesota, which is part of Columbia Heights, is located within the Minneapolis MSA. Minneapolis is the largest city in the state of Minnesota and the 46th-largest in the United States with 3.28 million residents. Minneapolis and Saint Paul anchor the second- largest economic center in the Midwest, behind Chicago. The city of Columbia Heights, of which Hilltop is a part, is a first-ring northern suburb of Minneapolis. Its downtown district is centered at the intersection of 40th Avenue NE and Central Avenue (Minnesota State Highway 65), and includes the Heights Theater, county offices, the public library, and a variety of businesses. Central Avenue forms a commercial district along its length. Hilltop consists of 16 city blocks along Central Avenue. Columbia Heights has a population of 20,617 residents. The area was named #27 on Forbes’ 2015 list of “Best Small Places for Business and Careers,” with its major industries being healthcare and education.

The economy of Minneapolis today is based in commerce, finance, rail and trucking services, health care, and industry. Smaller components are in publishing, milling, food processing, graphic arts, insurance, education, and high technology. Industry produces metal and automotive products, chemical and agricultural products, electronics, computers, precision medical instruments and devices, plastics, and machinery. Five Fortune 500 corporations make their headquarters within the city limits of Minneapolis: Target, U.S. Bancorp, Xcel Energy, and Financial.

The area is home to multiple fun activities to do for the whole family to enjoy. The area is home to the Silverwood Park which is a lakeside spot with amazing lake views, an art gallery, an outdoor amphitheater and hiking trails. The area also includes the north Mississippi Regional Park which includes riverside trails, a playground, a fishing river, woods, and the prairie grounds feature diverse wildlife, trails, a big playground & a fishing pier. Minneapolis is only a 15-minute drive which is the perfect place to spend the day. Minneapolis is home to the Mall of America, which is a giant 4-level mall with hundreds of stores, plus restaurants, a theme park, cinema and aquarium. The city also includes the Institute of Art, the Minnehaha Park, the Mill City Museum, the Walker Art Center and numerous unique restaurants to try.

MINNEAPOLIS, MN COLUMBIA HEIGHTS MALL OF AMERICA 13

(162,943 VPD) (37,000 VPD) (37,000 Central Ave NE (34,898 VPD) (34,898 NE Ave Central

(115,590 VPD) 49th Ave NE (5,488 VPD)

1 MILE 3 MILES 5 MILES

POPULATION 16,869 105,911 285,484

th AVERAGE HH 44 Ave NE (7,214 VPD) $67,567 $79,102 $81,205 INCOME 14 WALGREENS BOOTS ALLIANCE TENANT PROFILE

Walgreens Boots Alliance (NASDAQ: WBA) is the first global pharmacy-led, health and wellbeing enterprise. The company's heritage of trusted health care services through community pharmacy care and pharmaceutical wholesaling dates back more than 100 years. Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the U. S. and Europe. Walgreens Boots Alliance and the companies in which it has equity method investments together have a presence in more than 25 countries and employ more than 450,000 people. The company is a global leader in pharmacy-led, health and wellbeing retail and, together with its equity method investments, has more than 21,000 stores in 11 countries as well as one of the largest global pharmaceutical wholesale and distribution networks, with more than 425 distribution centers delivering to more than 250,000 pharmacies, doctors, health centers and hospitals each year in more than 20 countries. In addition, Walgreens Boots Alliance is one of the world’s largest purchasers of prescription drugs and many other health and wellbeing products.

The company’s portfolio of retail and business brands includes Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as increasingly global health and beauty product brands, such as No7, Soap & Glory, Liz Earle, Sleek MakeUP and Botanics. Walgreens Boots Alliance is proud to be a force for good, leveraging many decades of experience and its international scale, to care for people and the planet through numerous social responsibility and sustainability initiatives that have an impact on the health and wellbeing of millions of people. Walgreens Boots Alliance is included in Fortune magazine’s 2019 list of the World’s Most Admired Companies and ranked first in the food and drugstore category. This is the 26th consecutive year that Walgreens Boots Alliance or its predecessor company, Walgreen Co. , has been named to the list.

COMPANY TYPE FOUNDED # OF LOCATIONS HEADQUARTERS WEBSITE NYSE: WBA 1901 21,000+ Deerfield, IL walgreens.com WALGREENS 15 CONFIDENTIALITY AGREEMENT

The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from JDS Real Estate Services, Inc. (JDS) in association with Sands Investment Group (SIG) and should not be made available to any other person or entity without the written consent of JDS & SIG.

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, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.

The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, JDS & SIG has not verified, and will not verify, any of the information contained herein, nor has JDS & SIG 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.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose its contents in any manner detrimental to the interest of the Owner. You also agree that by accepting this Memorandum you agree to release JDS & SIG and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.

ACTUAL PROPERTY IMAGE OUT OF STATE COOPERATING BROKERS

JENNIFER D. STEIN AMAR GOLI JOHN FRAMPTON CLARISSA TARANDY16 JDS Real Estate Services, Inc. Sands Investment Group Sands Investment Group Sands Investment Group MN Lic. # 40407966 Lic. # 310575 Lic. # 312517 Lic. # 321766

213.446.5366 | DIRECT 980.729.5626 | DIRECT 980.729.5628 | DIRECT 704.709.5802 | DIRECT [email protected] [email protected] [email protected] [email protected]

Walgreens

JDS Real Estate Services, Inc. 4880 Central Avenue NE MN Lic. # 40407966 Hilltop, MN 55421