Investment Overview

The subject offering is a long-term, triple-net leased Walgreens Pharmacy located in Kansas City, Missouri. The site has been vacated by Walgreens and Walgreens has subleased the site to Dollar Tree. Walgreens remains responsible for the entirety of the firm term lease through December 31, 2033. With +/-10 years of remaining term on the current lease, Walgreens remains responsible for approximately $3.2M of base rent payable to landlord over the next 10 years in addition to being financially responsible for all operating expenses at the site including property taxes, insurance, roof, structure, and parking lot. The property is located just off a major interstate interchange ramp of Interstate 435 & Interstate 35 and across from one of Ford’s largest US assembly plants comprising 1,269 acres and employing more than 7,000 people in the immediate area. More than 52,000 residents live within a three-mile retail trade area with average household income nearing $80,000 annually. The offering presents an ideal investment for an investor seeking a best-in-class investment-grade corporate credit tenant ranked #18 in the Fortune 500 and priced at an attractive, above market going-in yield that significantly exceeds 10 year, comparative credit investment offerings in the national marketplace.