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Offering Memorandum CVS CORPORATE GUARANTEE 1400 East Roosevelt Road Wheaton, Illinois 60187

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Page 1: Offering Memorandum CVS CORPORATE GUARANTEE€¦ · Dollar Tree, Ace Hardware and Much More Corporate Guarantee antee Highly Visible Heavily ... Five Million Customers Served by CVS

Offering Memorandum

CVS CORPORATE GUARANTEE

1400 East Roosevelt RoadWheaton, Illinois 60187

Page 2: Offering Memorandum CVS CORPORATE GUARANTEE€¦ · Dollar Tree, Ace Hardware and Much More Corporate Guarantee antee Highly Visible Heavily ... Five Million Customers Served by CVS

CVS | Corporate Guarantee1400 East Roosevelt Road, Wheaton, Illinois 60187

Price $7,372,912 Cap Rate 6.25%NOI $460,807 Price/Square Foot $680.41 Gross Leasable Area 10,836 SF Year Built 2004Lot Size 1.42 Acres +/-Parcel Number 05-22-102-025Type of Ownership Fee SimpleParking 30 Surface Spaces +/-

Lease Type NNNLease Guarantor CorporateRoof & Structure TenantLease Term Remaining 11.1 YearsRent Commencement 12/22/2005Rent Expiration 1/31/2028(Seller Shall Issue a Credit at Close in the Amount Equal to the Current Scheduled Annual Rent for Any “Rental Holiday” in the Lease)

Lease Expiration 1/31/2031Options Ten (5) Year OptionsOption to Terminate NoneOption to Purchase Yes (In Option Period)

LEASE SUMMARY

RENT SCHEDULETerm Period Annual Rent Rent/SFBase Current $460,806.96 $42.53 Option 1 2/1/2031 $414,726.26 $38.27 Option 2 2/1/2036 $414,726.26 $38.27 Option 3-10 2/1/2041 Fixed or FMV -Notes: N/A

INVESTMENT HIGHLIGHTS

� Approximately 11 Years Remaining on Corporately Guaranteed Lease

� Investment Grade Tenant | “BBB” Standard & Poor’s Credit Rating

� Located in Main Retail Thoroughfare on a Signalized, Hard-Corner Intersection on Heavily Trafficked Roosevelt Road | 37,800 Vehicles Passing per Day

� Property Features a Drive-Thru, Adding Value and Flexibility

� Excellent Visibility | 210 Feet of Frontage

� One Mile to Both College of DuPage and Wheaton College | 30,900 Total Students

� Local National Retailers Include Starbucks, Dunkin’ Donuts, Jewel, Aldo, Mariano’s, ROSS Dress for Less, Dollar Tree, Ace Hardware and Much More

CorporateGuarantee

Guarantee

HighlyVisible

HeavilyTraveled

Drive-Thru

Page 3: Offering Memorandum CVS CORPORATE GUARANTEE€¦ · Dollar Tree, Ace Hardware and Much More Corporate Guarantee antee Highly Visible Heavily ... Five Million Customers Served by CVS

LEASE ABSTRACT

Responsible Party Notes

Roof Tenant

Structure Tenant

Parking Lot Tenant

HVAC Tenant

Taxes Tenant Paid Direct by Tenant

Insurance Tenant Paid Direct by Tenant

CAM Tenant Paid Direct by Tenant

Option to Terminate No

TENANT OVERVIEW

� Largest Pharmacy Health Care Provider in the United States Tenant Wheaton CVS LLC

� 9,800 Plus Retail Locations in 49 States and Four Countries Guarantor CVS Corporation

� $184.8 Billion in 2017 Net Revenue, Up Four Percent from 2016 Number of Locations 9,800+

� 2.5 Billion Prescriptions Managed Annually Stock Symbol | Board CVS | NYSE

� Five Million Customers Served by CVS Pharmacy Each Day Credit Rating | Agency BBB | Standard & Poor’s

cvs.com � Headquartered in Woonsocket, Rhode Island

Page 4: Offering Memorandum CVS CORPORATE GUARANTEE€¦ · Dollar Tree, Ace Hardware and Much More Corporate Guarantee antee Highly Visible Heavily ... Five Million Customers Served by CVS

CVS | Corporate Guarantee1400 East Roosevelt Road, Wheaton, Illinois 60187

DEMOGRAPHICSPopulation 1-Mile 3-Miles 5-Miles2018 Population 17,332 110,507 237,7932023 Population 17,276 111,530 240,142

Households 1-Mile 3-Miles 5-Miles2018 Households 6,295 41,284 89,8292023 Households 6,292 41,948 91,744

Daytime Population 1-Mile 3-Miles 5-Miles2018 Population 12,090 115,671 298,803

Income 1-Mile 3-Miles 5-Miles2018 Median HH Income $84,512 $92,042 $84,9912018 Average HH Income $116,942 $133,009 $117,700

LOCATION HIGHLIGHTS - WHEATON, IL

� Heavily Populated | Population of 110,507 Within Three Miles of Subject Property

� Affluent Area | Average Household Income is $133,009 Within Three Miles of the Subject Property

� Home to College of DuPage (28,000 Students Enrolled) and Wheaton College (2,900 Students)

� 115,671 People Work Within Three Miles of the Property

�Wheaton was Ranked Number Six as the Top 100 Safest Cities in America - National Council for Home Safety and Security, 2017

�Wheaton Won Distinguished Budget Award, 2003-2018: Government Finance Officer’s Association of the United States and Canada

� 30 Miles West of Downtown Chicago

� Two Metra Train Stations Within Wheaton

AffluentDemographics

Infill Location

High Barrier to Entry

Abundance of Retailers

Page 5: Offering Memorandum CVS CORPORATE GUARANTEE€¦ · Dollar Tree, Ace Hardware and Much More Corporate Guarantee antee Highly Visible Heavily ... Five Million Customers Served by CVS

AERIAL

College of DuPage 28,000 Students

Wheaton College2,900 Students

Village Green Park

S Naperville Rd22,300 VPD

S President St9,900 VPD

Subject Property

Village Lakes of Glen Ellyn

UP-W Line _______ Annual Ridership

E Roosevelt Rd37,800 VPD

Page 6: Offering Memorandum CVS CORPORATE GUARANTEE€¦ · Dollar Tree, Ace Hardware and Much More Corporate Guarantee antee Highly Visible Heavily ... Five Million Customers Served by CVS

AERIAL

S Blanchard St

Subject Property

E Roosevelt Rd37,800 VPD

Page 7: Offering Memorandum CVS CORPORATE GUARANTEE€¦ · Dollar Tree, Ace Hardware and Much More Corporate Guarantee antee Highly Visible Heavily ... Five Million Customers Served by CVS

REGIONAL MAP

Subject Property

Lake Michigan

Page 8: Offering Memorandum CVS CORPORATE GUARANTEE€¦ · Dollar Tree, Ace Hardware and Much More Corporate Guarantee antee Highly Visible Heavily ... Five Million Customers Served by CVS

CONFIDENTIALITY AGREEMENT

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure 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. Marcus & Millichap has not made any 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 Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap 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.

NON-ENDORSEMENT NOTICE

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2019 Marcus & Millichap. All Rights Reserved. Activity ID: ZAA0671013

Page 9: Offering Memorandum CVS CORPORATE GUARANTEE€¦ · Dollar Tree, Ace Hardware and Much More Corporate Guarantee antee Highly Visible Heavily ... Five Million Customers Served by CVS

Exclusively Listed By

SEAN SHARKOSENIOR VICE PRESIDENT INVESTMENTSChicago Oakbrook(630) [email protected] IL 471.010712

AUSTIN WEISENBECKSENIOR VICE PRESIDENT INVESTMENTSChicago Oakbrook(630) [email protected] IL 475.140200

STEVEN WEINSTOCKBROKER OF RECORD

Chicago Oakbrook(630) 570-2250

(630) 570-2323 [email protected]

IL 471.011175

MATTHEW EMERICKASSOCIATEChicago Oakbrook(630) [email protected] IL 475.183047