1223-1225 3Rd Street, Whitehall, PA for Sale STNL

Not Actual Location For Sale STNL

Single Tenant Net Lease

CVS 1223-1225 3rd Street, Whitehall, PA

Colliers International Derek Zerfass One Windsor Senior Vice President 7535 Windsor Drive, Suite 208 +1 610 295 6126 Allentown, PA [email protected] www.colliers.com/allentown

©2017 Colliers International. Information herein has been obtained from sources deemed reliable, however its accuracy cannot be guaranteed. The user is required to conduct their own due diligence and verification. SINGLE TENANT NET LEASE CVS // 1223-1225 3rd Street // Whitehall // Pennsylvania

TABLE OF CONTENTS

3 Investment Summary 4 Tenant Profile 5 Location 7 Site Plan 8 Area Retail 9 Confidentiality & Disclaimer

Colliers International Derek Zerfass One Windsor Senior Vice President 7535 Windsor Drive, Suite 208 +1 610 295 6126 Allentown, PA [email protected] www.colliers.com/allentown

CONFIDENTIAL OFFERING MEMORANDUM | 2708 COMMERCE WAY COLLIERS INTERNATIONAL P. 2 SINGLE TENANT NET LEASE CVS // 1223-1225 3rd Street // Whitehall // Pennsylvania

INVESTMENT SUMMARY

OFFERING SPECIFICATIONS Colliers International is pleased to offer this new CVS Pharmacy Absolute Net leased offering located in Whitehall, PA. Type Absolute NNN Land Lease

Whitehall is centrally located in the Lehigh 1223-1225 3rd Street Valley and home to the Valley’s strongest Address Whitehall, PA 18052 retail corridor. SEC of 3rd St and Orchard Dr

Lehigh Valley is approximately 75 miles west Tenant Pennsylvania CVS Pharmacy, LLC of New York City and 50 Miles North of CVS Health Corporation, Guarantor Philadelphia. The area is the 3rd most A Delaware Corporation populous in the state and the fastest growing. Price $3,333,333 This brand new location is slated to open by May 11th, 2019. Zero Landlord obligations. New 20 year lease term with 6 (5) year options. Cap Rate 4.5%

NOI $150,000 INVESTMENT HIGHLIGHTS SF 9,618 SF Zero Landlord obligations Lot Size 1.44 Acres New CVS Pharmacy Absolute NNN Ground Lease Lease Term 20 Years S&P Rated BBB+

Lower price point for CVS Pharmacy Options 6 (5) year options

Rent & Term Located at signalized intersection 5/11/19 Commencement

PAGE 3 SINGLE TENANT NET LEASE CVS // 1223-1225 3rd Street // Whitehall // Pennsylvania

TENANT PROFILE

CVS Pharmacy (sometimes stylized as CVS/pharmacy) is a subsidiary of the American retail and health care company CVS Health, headquartered in Woonsocket, Rhode Island. It was also known as, and originally named, the Consumer Value Store and was founded in Lowell, Massachusetts, in 1963. The chain was owned by its original holding company Melville Corporation since its inception until its current parent company (CVS Health) was spun off into its own company in 1996.

CVS Pharmacy is currently the largest pharmacy chain in the United States by number of locations (over 9,600 as of 2016) and total prescription revenue. Its parent company ranks as the 7th largest U.S. corporation by FY2017 revenues in the Fortune 500. The parent company of CVS Pharmacy’s leading competitor ranked 19th for the same time period.

CVS sells prescription drugs and a wide assortment of general merchandise, including over-the- counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards, and convenience foods through their CVS Pharmacy and Longs Drugs retail stores and online through CVS.com. It also provides healthcare services through its more than 1,100 MinuteClinic medical clinics as well as their Diabetes Care Centers. Most of these clinics are located within CVS stores.

PAGE 4 SINGLE TENANT NET LEASE CVS // 1223-1225 3rd Street // Whitehall // Pennsylvania LOCATION MAP

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and more than 8,500 for Lehigh Valley Phantoms professional hockey games. ALLENTOWN AREA Attached to the stadium is the Allentown Renaissance Hotel by Marriott and a Lehigh Valley Health Network sports and fitness center at One City Center. Strata Flats luxury apartments at Four City Center opened in 2015. Two office Allentown has often been described as a national success story, and as one of buildings, Two and Three City Center, were completed in 2014 and 2015 respec- the best cities in the country to live, work and play. The city of Allentown is tively, and are fully leased. Construction is underway on a third office building, located in central-eastern Lehigh County. The city is the third-most populous Six City Center. Coca-Cola Park is a 8,278-seat baseball park on the east side in the state, and ranks within the 250 largest cities in the United States. In of Allentown. The stadium is the home field for the Lehigh Valley IronPigs, the addition, the city is the fastest-growing city in the state, and has been for Philadelphia Phillies’ AAA-level Minor League baseball team and accommodates several consecutive years. Allentown is within close proximity of Interstate 78, 10,178 fans. The IronPigs have been Minor League Baseball’s per game atten- Pennsylvania Route 309, and U.S. Route 22, and is serviced by LANTA, a dance leader since the debut season in 2008. The Allentown Waterfront proj- public bus system serving Lehigh and Northampton Counties. ect is a $400 million redevelopment along the Lehigh River in Allentown. The There has been a major resurgence of interest in renewal of the downtown 26-acre development will be a mixed use of office buildings, residences and a areas of Allentown, Bethlehem and Easton, largely due to tax incentive pro- lively new restaurant and retail district. Phase one of the multi-year project has grams. City Center is a major urban renewal project in Downtown Allentown. begun with the clearing of the site, new infrastructure and the repair of the The PPL Center hockey arena and event venue opened in September, 2014. Tilghman Street Bridge. The first planned building will be residential. The state-of-the-art multipurpose arena seats more than 10,000 for concerts

Whitehall Demographics

Population 1 Mile 3 Mile 5 Mile

2023 Projection 10,075 119,571 240,256

2018 Estimate 9,891 116,407 234,401

2010 Census 9,613 111,380 225,206

Historical Growth 2010-2018 0.35% 0.54% 0.49%

Average HH Income $64,003 $59,710 $69,078

COLLIERS INTERNATIONAL P. 6 PAGE 6 SINGLE TENANT NET LEASE CVS // 1223-1225 3rd Street // Whitehall // Pennsylvania SITE PLAN

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r F a u h ll a e m r to n St A v e Copyright © 2012 Colliers International Union Blvd Fairmont Ave Source: Esri, DigitalGlobe, GeoEye, Earthstar Geographics, CNES/Airbus DS, USDA, USGS, AEX, Getmapping, Aerogrid, IGN, IGP, PAGEswisstopo, a n8d the GIS User Community Confidentiality & Disclaimer

This Offering Memorandum contains select information pertaining to the business and affairs of 1223-1225 3rd Street, Whitehall, Pennsylvania. It has been prepared by Colliers International. 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 Colliers International. The material is based in part upon information supplied by the Seller and in part upon financial information obtained by Colliers 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 or 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 from Colliers International, 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 Colliers International 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 1223-1225 3rd Street, Whitehall, Pennsylvania 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 Colliers International 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.

CONFIDENTIAL OFFERING MEMORANDUM | 2708 COMMERCE WAY COLLIERS INTERNATIONAL P. 9 Single Tenant Net Lease

For More Information, Contact:

Colliers International Derek Zerfass One Windsor Senior Vice President 7535 Windsor Drive, Suite 208 +1 610 295 6126 Allentown, PA [email protected] www.colliers.com/allentown