CVS Pharmacy 154 N

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CVS Pharmacy 154 N Offering Memorandum Subject Property Photos CVS Pharmacy 154 N. College Street | Piqua, OH 45356 Confidential Disclaimer This Confidential Memorandum has been prepared by Stan Johnson Company (“SJC”) and is being furnished to you solely for the purpose of your review of the commercial property located at 154 N. College St., Piqua, OH 45356 (the “Property”). The material contained in this Offering Memorandum shall be used for the purposes of evaluating the Property for acquisition and shall not be used for any purpose or made available to any other person without the express written consent of Stan Johnson Company (“Broker”). By accepting the Confidential Memorandum, you acknowledge and agree that: (1) all of the information contained herein and any other information you will be receiving in connection with this transaction, whether oral, written or in any other form (collectively, the “Materials”), is confidential; (2) you will not reproduce the Confidential Memorandum in whole or in part; (3) if you do not wish to pursue this matter, you will return this Confidential Memorandum to SJC as soon as practicable together with all other materials relating to the Property which you may have received from SJC; and (4) any proposed actions by you which are inconsistent in any manner with the foregoing agreements will require the prior written consent of SJC. This Confidential Memorandum has been prepared by SJC, based upon certain information pertaining to the Property and any information obtained from SJC to assist interested parties in making their own evaluation of the Property is offered on a no representation or warranty provision other than customary warranties of title and is sold on an “as-is, where-is” basis and with all faults. The material and transaction does not purport to be all inclusive. This Confidential Memorandum contains descriptive materials, financial information and other data compiled for the convenience of parties interested in the Property. The Materials are being delivered by SJC to prospective investors with the understanding that it is not all inclusive and that it is qualified in its entirety by independent investigation by prospective investors of those matters which they deem appropriate in evaluating this offering without reliance upon SJC, the Broker or any of their respective affiliates or any of the information set out in the Materials. Neither SJC, the Broker, nor any of their respective affiliates have independently verified any of the information contained herein or Offered Exclusively By in any of the Materials, and no representations or warranties as to the accuracy or completeness thereof or of any other kind whatsoever are made or intended and none should be inferred. Chad Byerly | Director [email protected] SJC, for itself and its affiliates of the Property, expressly disclaim any and all liability for statements or representations, express or implied, contained herein or for omissions from the Materials or for any other written, oral or other format of communication transmitted to a prospective investor in the course of its evaluation of the Phillip Butts | Analyst proposed transaction. All summaries and discussions of documentation and/or financial information contained [email protected] herein are qualified in their entirety by reference to the actual documents and/or financial statements, which upon request may be made available. The terms and conditions described herein are subject to change without notice. In Association With: Homer Guren Ohio Broker#: BRK.0000120095 This Confidential Memorandum does not constitute an offer to accept any investment proposal but is merely a solicitation of interest with respect to the investment described herein. The Confidential Memorandum does not constitute an offer of security. The investment described herein may be financed or withdrawn from the market, Tulsa Office without prior notice. By accepting this Confidential Memorandum you agree to release SJC and hold it harmless 6120 S Yale Ave | Suite 300 from any kind of claim, expense, or liability arising out of your discovery or purchase of the Property. SJC reserves Tulsa, OK 74136 the right to request the return of the Materials at any time. Ownership of the Property reserves the right to negotiate 918.494.2690 with one or more prospective investors at any time. Page 2 CVS Pharmacy | Piqua, OH Pricing: Contact Broker for Details Investment Summary Investment Highlights Stan Johnson Company is pleased to Strong Credit & Growing Company - CVS has offer for sale to qualified investors a CVS investment grade credit and strong financials. property located in Piqua, Ohio. In June 2015, CVS reached an agreement with Target to acquire all 1,660 in-store pharmacies The property was a build-to-suit for CVS for $1.9 Billion and will operate them through a in 1999 and has operated at this location store-within-a-store format. successfully ever since. There are approximately seven (7) years remaining Passive Investment – CVS is operating under a on the primary term of the lease with NNN lease, leaving zero responsibilities for the ten (10), five (5) year option periods. Landlord. Additionally, the tenant is operating under an absolute NNN lease leaving the Higher Cap Rate – This investment offers a Landlord zero obligations. higher Cap Rate return than typical new CVS locations due to the remaining term on the lease. The subject property is located directly off College Street which has over Minimal Competition – The nearest national drug 18,000 vehicles per day. Also, there is store is located approximately 10 miles south of an immediate 1-mile radius population of subject property. over 13,000 with no other national drug stores within 10 miles, therefore, minimal High Immediate Population – The 1-mile radius competition. population for this property is over 13,000, suggesting this is a highly trafficked store. Subject Property Photos Page 3 CVS Pharmacy | Piqua, OH Lease Abstract 154 N. College Street Location Piqua, OH Tenant CVS Pharmacy Rentable Area ± 10,112 SF Land Area ± 1.38 Acres Year Built 1999 Lease Term Approx. Seven (7) years Lease Expiration January 2023 Annual Rent $206,491 Ten (10), Five (5) year Renewal Options options Option Rent $196,167 (flat) NNN - Zero Landlord Expenses Responsibilities N Representative Photos Page 4 CVS Pharmacy | Piqua, OH 7,900 CVS/pharmacy Stores Tenant Overview CVS/pharmacy has over 7,900 retail drug stores in 46 states, the District of Columbia, Puerto Rico and Brazil and is currently located CVS Health Corporation (NYSE: CVS), in 98 of the top 100 drugstore markets. headquartered in Woonsocket, Rhode Island, CVS HEALTH CORPORATION is the largest pharmacy health care provider 7,900 in the United States with integrated offerings No. of Locations: across the entire spectrum of pharmacy care. 1,000+ MinuteClinic Locations Credit Rating: BBB+/Stable (S&P) Through their unique suite of assets, the CVS Health has more than 1,000 MinuteClinic company is reinventing pharmacy to offer Stock Symbol: NYSE: CVS locations with a goal of 1,500 by 2017. innovative solutions that help people on their path to better health. CVS is focused on Total Revenue: $153.29 billion* enhancing access to care, lowering overall 27M+ MinuteClinic Visits health care costs for plan members and Net Worth: $37.19 billion* CVS MinuteClinic nurse practitioners have seen payors, and improving health outcomes. more than 27 million patients to date, with a 95 Tenant Business: Retail/Pharmacy percent customer satisfaction rating. Through the company’s more than 7,900 retail pharmacies; its leading pharmacy Headquarters: Woonsocket, RI benefit manager serving more than 70 million plan members; and its retail health Website: www.cvshealth.com 24,000 Pharmacists clinic system, the largest in the nation with *As of 12/31/2015 more than 1,000 MinuteClinic locations; CVS Health employs more than 24,000 phar- it is a market leader in mail order, retail macists across the company. and specialty pharmacy, retail clinics, and Medicare Part D Prescription Drug Plans. 200,000 Colleagues CVS Health recently completed a $1.9 billion CVS Health employs over 200,000 colleagues agreement to take over Target’s (NYSE: in 46 states, the District of Columbia and Puer- TGT) pharmacy and clinic businesses. The to Rico. deal brings 1,672 new pharmacies into CVS Health, which will expand its retail footprint by more than 20%. The company is planning 70M ExtraCare Members on rebranding all of these pharmacies under Their loyalty card program, ExtraCare, is the the CVS/Pharmacy name. largest retail savings and rewards program with more than 70 million active member For the twelve month period ended households. December 31, 2015, CVS Health Corporation had total revenue of $153.29 billion, net 1.7B Prescriptions income of $5.23 billion and a net worth in excess of $37.19 billion. CVS currently holds CVS Health fills or manages 1.7 billion prescrip- a Standard & Poor’s credit rating of BBB+/ tions each year and has captured one third of Stable. total U.S. prescription growth since 2008. Page 5 CVS Pharmacy | Piqua, OH Location Overview Piqua is a city in Miami County, Ohio. It is part of the Dayton Metropolitan Statistical Area. The population was 20,522 at the 2010 census. Piqua has two Main Streets, one being north and southbound along Miami County Road 25-A (the former U.S. Route 25, also known as the Dixie Highway); the other running east through Shawnee. U.S. 36 also runs through much of the city, cutting the town almost directly in half. Main and Ash streets (U.S. 36) William M. McCulloch Public Square - Piqua, OH Fort Piqua Plaza - Piqua, OH converge in Piqua’s downtown. The city of Piqua is the home of Hartzell Propeller, the leading producer of small aircraft propellers in the world.
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