FEATURES

Below Market Lease Rate and Assumable Financing Strong Security from Guaranteed Income by Ross Stores and Dollar Tree Dense Urban Population Includes Over 85 Full-Size, Exclusive Parking Spaces 2008 Estimated Population 1-mile: 107,590  |   3-mile: 599,032 2013 Projected Population 1-mile: 114,753  |   3-mile: 634,995

Please contact Philip Voorhees for more information.

Corporate guaranteed ground lease (fee simple) with CVS (NYSE: CVS), one of the country's largest pharmacy chains, with over 6,900 retail locations in 41 states
 
CVS has $87.4 billion in revenues and a market capitalization of $44.98 billion
 
Established national credit tenant on a brand-new twenty-five (25) year "NNN" ground lease
 
Additionally, CVS has seven (7) five (5) year renewal options with fixed 5% increases every five (5) years during option periods
 
Established, high quality pharmacy tenant will require limited oversight
 
S&P rating BBB+

Offering Price..............$6,024,000
Lease Type ............Ground Lease
NOI (Year 1)....................$412,824
Lease Expires................Jan 2035

Investment Summary   Offering Price: $9,400,000   Cap Rate: 7.0%   Year One NOI: $657,954   Occupancy: 100%   Ownership: Fee Simple   Building Leasable Area: 20,072 SF   Land Area: 84,506 SF (1.94 acres)   Year Built: 2004-2005   Zoning: C-4 (Neighborhood Commercial)   Parking: 106 spaces (5.3/1,000 SF)   Debt: Buyer to assume highly attractive existing debt - below market interest rate of 5.127%, June 2009 projected balance of ±$5,790,223, P&I payment of $33,765.82/month, original loan balance of $6,200,000 on 12/29/04 due 1/15/15.

The Offering   Eagle Rock Walgreens Center is a ±20,072 SF neighborhood shopping center anchored by Walgreens, Starbucks, Quizno's, Jamba Juice and Coldstone Creamery. Situated adjacent to the southwest corner of Colorado Boulevard and Eagle Rock Boulevard, the shopping center benefits from a very densely populated trade area with 125,000 people and 117,000 daytime population in a 3-mile trade area. The shopping center is well-located on Colorado Boulevard, a major commercial thoroughfare in the San Gabriel Valley, less than two miles from the Glendale Freeway (CA Hwy 2) and less than one mile from the Ventura Fwy (CA Hwy 134).     Investment Highlights Established neighborhood shopping center anchored by Walgreens (S&P rated A+).   Tremendous tenant mix with 100% nationally recognized tenants with over 85% of GLA leased to publicly traded credit tenants.   Strong tenant line-up includes Walgreens, Starbucks (sales put this store in top half of chain), Quizno's, Jamba Juice and Coldstone Creamery.   Densely populated trade area – 125,000 people and 117,000 daytime population within a 3-mile trade area.   Urban in-fill location constrains trade area to new competition.   Opportunity to establish a stable retail property within the city of Los Angeles.   New construction – no deferred maintenance.

The subject offering is a single tenant Staples located in Big Rapids, MI. Comprised of 24,049 square feet on 2.63 acres of land, this is a 1999 construction property with all frontage to Perry Road, the dominant thoroughfare in Big Rapids. This freestanding coporate Staples store offers 7,000+ office products to the residents of Big Rapids, home of Ferris State University, a 13,000+ student enrolled campus.