NET LEASE INVESTMENT OFFERING

Walgreens 829 East Green Bay Avenue Saukville, WI 53080 ( MSA) 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 Maps

NET LEASE INVESTMENT OFFERING DISCLAIMER STATEMENT

DISCLAIMER The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended STATEMENT: 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 Walgreens located within the SUMMARY: Milwaukee MSA. The property is strategically positioned adjacent to a Walmart Supercenter along Interstate 43. There are approximately 13 years remaining on the Walgreens lease which expires May 31, 2029. This absolute triple net lease features no landlord responsibilities and ten 5-year renewal option periods.

The 14,490 square foot Walgreens is strategically positioned along Green Bay Avenue. Green Bay Avenue is the primary east-west thoroughfare in the trade area and experiences traffic counts in excess of 20,000 vehicles per day. Interstate 43 is located immediately to the west of the Walgreens property and experiences traffic counts in excess of 42,000 vehicles per day. The Walgreens is positioned adjacent to a Walmart Supercenter. Additional retailers located in the immediate trade area include Piggly Wiggly, Camping World, BMO Harris Bank, Marcus Cinema, McDonald’s and Sherwin-Williams. The surrounding area features average annual household incomes in excess of $90,000 which is significantly above the national average.

Walgreens is the largest drug retailing chain in the United States and has over 8,100 locations in the U.S.A. Walgreens is publicly traded on the New York Stock Exchange (WBA) with a market capitalization in excess of $86 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 • Located within the Milwaukee MSA HIGHLIGHTS: • Long term lease with approximately 13 years remaining

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

• Absolute triple net lease with no landlord responsibilities

• Positioned adjacent to a Walmart Supercenter

• Immediate proximity to Interstate 43

• Average household incomes within a seven mile radius are in excess of $90,000

• Located along the trade area’s primary east-west thoroughfare

• Retailers located in the immediate area include Piggly Wiggly, Camping World, BMO Harris Bank, Marcus Cinema, McDonald’s, Sherwin-Williams and many others

NET LEASE INVESTMENT OFFERING PROPERTY OVERVIEW

PROPERTY Price: $5,166,666 OVERVIEW: Cap Rate: 6.00%

Net Operating Income: $309,999

Rent Commencement Date: May 29, 2004

Lease Expiration Date: May 31, 2029

Renewal Options: Ten 5-Year

Tenant: Walgreens

Credit Rating: S&P: BBB | Investment Grade

Year Built: 2004

Lease Type: NNN

Building Size: 14,490 SF

Land Size: 1.37 Acres

NET LEASE INVESTMENT OFFERING PHOTOGRAPHS

NET LEASE INVESTMENT OFFERING AERIAL

NOW OPEN

NOW OPEN (2,000 VPD)

G R E E N B AY AV E N U E ( 2 0 , 0 0 0 V P D )

NET LEASE INVESTMENT OFFERING SITE PLAN

GREEN BAY AVENUE (20,000 VPD)

Subject Property

NET LEASE INVESTMENT OFFERING MAPS

Lake Michigan

NET LEASE INVESTMENT OFFERING MAPS

Lake Michigan

NET LEASE INVESTMENT OFFERING DEMOGRAPHIC REPORT

DEMOGRAPHIC Population 3-Mile 5-Mile 7-Mile REPORT:

Total Population 17,380 28,800 48,435 Total Households 7,129 11,896 19,657

Income 3-Mile 5-Mile 7-Mile

Median Household Income $63,829 $68,220 $72,984 Average Household Income $80,557 $85,690 $90,587

NET LEASE INVESTMENT OFFERING MARKET OVERVIEW

MARKET Saukville is a village in Ozaukee County, and is part of the Milwaukee metropolitan OVERVIEW: statistical area. The population was 4,451 at the 2010 census. Most of the village perimeter is bordered by the Town of Saukville to the north and west, the Town of Port Washington to the east and southeast and by the Town of Grafton to the south and southwest. Saukville is located approximately 25 miles north of downtown Milwaukee. It is located along Interstate 43 which connects Milwaukee to Green Bay.

Milwaukee is the largest city in Wisconsin and the 28th most populous city in the United States. Milwaukee is located on the southwestern shore of Lake Michigan. According to the 2010 U.S. Census, the City of Milwaukee had a population of 594,833 and the Milwaukee MSA had a population of 1,751,316.

Milwaukee and its suburbs are the home to the international headquarters of 13 Fortune 1000 companies, including Johnson Controls, Northwestern Mutual, Manpower Inc., Jefferson Wells, Kohl’s, Harley-Davidson, Rockwell Automation, Fiserv, Inc., Hal Leonard, Wisconsin Energy, Briggs & Stratton, Joy Global, Bucyrus International, A.O. Smith, GE Healthcare Diagnostic Imaging and Clinical Systems and MGIC Investments. The Milwaukee metropolitan area ranks fifth in the United States in terms of the number of Fortune 500 company headquarters as a share of the population.

Three of Wisconsin’s Interstate highways intersect in Milwaukee. Interstate 94 comes north from Chicago to enter Milwaukee and continues west to Madison. I-43 enters Milwaukee from the southwest and continues north along Lake Michigan to Green Bay. Approved in 2015, Interstate 41 follows I-94 north from the state line before turning west and north to head to Green Bay. Milwaukee’s main port, Port of Milwaukee, handled 2.4 million metric tons of cargo through its municipal port in 2014. Steel and salt are handled at the port.

NET LEASE INVESTMENT OFFERING TENANT OVERVIEW

Walgreens Boots Alliance, Inc. operates as a pharmacy-led health and wellbeing company. The company operates through TENANT three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA OVERVIEW: 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 August 31, 2015, this segment operated 8,173 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 (WBA) with a market capitalization in excess of $86 billion. Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment grade rated each with a Standard & Poor’s rating of BBB.

Website: www.walgreens.com Number of Locations: 8,173 Stock Symbol: WBA : NASDAQ Standard & Poor’s Rating: BBB Market Capitalization: $86 Billion

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

Jimmy Goodman Partner 847.562.8500 [email protected]

666 Dundee Road, Suite 1801 Northbrook, IL 60062

www.bouldergroup.com

Gwen Callans Managing Broker 312.516.5705 [email protected]

55 E. Monroe, Suite 2910 Chicago, IL 60603

www.atlaspartners.com