brc cvs raleigh nc

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  • 7/31/2019 Brc Cvs Raleigh Nc

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    Sean OShea, Managing Director

    C: 310 .433 .8851 T : 213 .226 .8719

    oshea@brcadv i so rs . com

    C O N F I D E N T I A L O F F E R I N G M E M O R A N D U M

    6216 Ba t t l e B r i dge Rd , | Ra l e igh , NC 27610

    mailto:[email protected]:[email protected]:[email protected]
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    ean OShea, Managing Director C: 310.433.8851 T: 213.226.8719

    BRC

    P r o p e r t y O v e r v i e w

    Ofering Price: $4,243,119

    NOI: $302,466

    CAP 7.13

    Lease Term: 24 YRS

    Type ofOwnership:

    Fee Simple

    Lease Type: NNN

    Year Built: 2011

    Building Size: 13,225 SF

    Lease Commencement: 12/15/2011

    Lease Expiration: 1/31/2037

    Original Lease term: 25 years

    Term Remaining: 24 years

    Option Term: Four 5-years

    CVS Zero First cash Flow

    2/1/2037

    T e n a n t O v e r v i e w

    6 2 1 6 Ba t t l e B r i dge R d ,

    R a l e igh , NC 2 7 6 1 0

    LTV: 86.21%

    Debt Status: Existing

    Loan Maturity: 1/10/2034

    (no balloon)

    Demographics: $40,491 Median Family Income

    Option Term: Four 5-years

    CVS Zero: First Cash Flow 2/1/2037

    Loan Balance: $3,657,861*

    Down Payment: $585,258

    % over Debt: 16.00%

    *Loan Balance as of October 2012

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    ean OShea, Managing Director C: 310.433.8851 T: 213.226.8719

    BRC

    T e n a n t O v e r v i e w

    CVS/Pharmacy is one of the largest pharmacy chains in the United States, with over 7,300 storesacross 41 states. As the retail pharmacy division of CVS Caremark, it sells prescription drugs and awide assortment of general merchandise, including over-the counter drugs, beauty products andcosmetics, film and photo finishing services, seasonal merchandise, greeting cards and conveniencefoods through their CVS/pharmacy retail stores and online through CVS.com. They also providehealthcare services through its Minute Clinic healthcare clinics as well as their Diabetes CareCenters. Most of these clinics are located within CVS stores.

    CVS Caremark is the largest provider of prescriptions in the nation. The Company fills or manages

    more than 1billion prescriptions annually. CVS has more than 7,300 CVS/pharmacy and Longs Drugsstores throughout the country. Additional information on CVS can be found at www.CVS.com (NYSETrade Symbol CVS).

    Industry: RetailFounded Lowell, Massachusetts, U.S.(May 8, 1963)Founder(s) Stanley and Sidney Goldstein Ralph HoaglandHeadquarters Woonsocket, Rhode Island,U.S.Number of locations Over 7,300 CVS and Longs Drugs storesArea served Nationwide

    http://en.wikipedia.org/wiki/Longs_Drugshttp://en.wikipedia.org/wiki/Longs_Drugshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Woonsocket,_Rhode_Islandhttp://en.wikipedia.org/wiki/Woonsocket,_Rhode_Islandhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/Lowell,_Massachusettshttp://en.wikipedia.org/wiki/Lowell,_Massachusetts
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    ean OShea, Managing Director C: 310.433.8851 T: 213.226.8719

    BRC

    Raleighis thecapitaland the second largest city in the state ofNorth Carolinaas well as theseatofWake

    County. Raleigh is known as the "City of Oaks" for its manyoak trees.According to theU.S. Census Bureau,

    the city's 2011 estimated population was 416,468, over an area of 142.8 square miles (370km2), making

    Raleigh currently the42rd largest cityin theUnited States. It is also one of the fastest-growing cities in the

    country. The city of Raleigh is named after Sir Walter Raleigh, who established the lost Roanoke

    ColonyonRoanoke Islandin present-dayDare County, North Carolina.

    Raleigh,Durham, andChapel Hillmake up the three primary cities of theResearch Trianglemetropolitan

    region. The regional nickname of "The Triangle" originated after the 1959 creation of the Research Triangle

    Park, primarily located in Durham County, four miles from downtown Durham. RTP is bordered on three sidesby the city of Durham and is roughly midway between the cities of Raleigh and Chapel Hill, and three major

    research universities ofNC State University,Duke University, andUNC-Chapel Hill.

    Efective June 6, 2003 the U.S.Oce of Management and Budgetredefined the Federal Statistical Areas and

    dismantled what had been for decades the Raleigh-Durham-Chapel Hill, MSA and split them into two

    separate MSAs, even though the region still functions as a single metropolitan area. This resulted in the

    formation of the Raleigh-Cary, NC MSA and the Durham-Chapel Hill, NC MSA.

    The Research Triangle region encompasses the U.S. Census Bureau's Combined Statistical Area (CSA) of

    Raleigh-Durham-Cary in the centralPiedmont region of North Carolina. As of 2011 Census Estimate the

    population of the Raleigh-Durham-Cary CSA was 1,795,750. The Raleigh-CaryMetropolitan Statistical Area

    (MSA)as of 2011 Census Estimate was 1,163,750.

    Most of Raleigh is located withinWake County, with a very small portion extending intoDurham County.The

    towns ofCary,Morrisville,Garner,Clayton,Wake Forest,Apex,Holly Springs,Fuquay-

    Varina,Knightdale,Wendell,Zebulon, andRolesvilleare some of Raleigh's primary near by

    suburbsandsatellite towns.

    L o c a t i o n O v e r v i e w

    http://en.wikipedia.org/wiki/Suburbshttp://en.wikipedia.org/wiki/Suburbshttp://en.wikipedia.org/wiki/Suburbshttp://en.wikipedia.org/wiki/Suburbshttp://en.wikipedia.org/wiki/Suburbshttp://en.wikipedia.org/wiki/Suburbshttp://en.wikipedia.org/wiki/Knightdale,_North_Carolinahttp://en.wikipedia.org/wiki/Knightdale,_North_Carolinahttp://en.wikipedia.org/wiki/Knightdale,_North_Carolinahttp://en.wikipedia.org/wiki/Wendell,_North_Carolinahttp://en.wikipedia.org/wiki/Wendell,_North_Carolinahttp://en.wikipedia.org/wiki/Wendell,_North_Carolinahttp://en.wikipedia.org/wiki/Zebulon,_North_Carolinahttp://en.wikipedia.org/wiki/Zebulon,_North_Carolinahttp://en.wikipedia.org/wiki/Zebulon,_North_Carolinahttp://en.wikipedia.org/wiki/Rolesville,_North_Carolinahttp://en.wikipedia.org/wiki/Rolesville,_North_Carolinahttp://en.wikipedia.org/wiki/Rolesville,_North_Carolinahttp://en.wikipedia.org/wiki/Fuquay-Varina,_North_Carolinahttp://en.wikipedia.org/wiki/Fuquay-Varina,_North_Carolinahttp://en.wikipedia.org/wiki/Fuquay-Varina,_North_Carolinahttp://en.wikipedia.org/wiki/Knightdale,_North_Carolinahttp://en.wikipedia.org/wiki/Wendell,_North_Carolinahttp://en.wikipedia.org/wiki/Suburbshttp://en.wikipedia.org/wiki/Suburbshttp://en.wikipedia.org/wiki/Rolesville,_North_Carolinahttp://en.wikipedia.org/wiki/Rolesville,_North_Carolinahttp://en.wikipedia.org/wiki/Zebulon,_North_Carolinahttp://en.wikipedia.org/wiki/Zebulon,_North_Carolinahttp://en.wikipedia.org/wiki/Wendell,_North_Carolinahttp://en.wikipedia.org/wiki/Wendell,_North_Carolinahttp://en.wikipedia.org/wiki/Knightdale,_North_Carolinahttp://en.wikipedia.org/wiki/Knightdale,_North_Carolinahttp://en.wikipedia.org/wiki/Fuquay-Varina,_North_Carolinahttp://en.wikipedia.org/wiki/Fuquay-Varina,_North_Carolinahttp://en.wikipedia.org/wiki/Fuquay-Varina,_North_Carolinahttp://en.wikipedia.org/wiki/Fuquay-Varina,_North_Carolinahttp://en.wikipedia.org/wiki/Holly_Springs,_North_Carolinahttp://en.wikipedia.org/wiki/Holly_Springs,_North_Carolinahttp://en.wikipedia.org/wiki/Apex,_North_Carolinahttp://en.wikipedia.org/wiki/Apex,_North_Carolinahttp://en.wikipedia.org/wiki/Wake_Forest,_North_Carolinahttp://en.wikipedia.org/wiki/Wake_Forest,_North_Carolinahttp://en.wikipedia.org/wiki/Clayton,_North_Carolinahttp://en.wikipedia.org/wiki/Clayton,_North_Carolinahttp://en.wikipedia.org/wiki/Garner,_North_Carolinahttp://en.wikipedia.org/wiki/Garner,_North_Carolinahttp://en.wikipedia.org/wiki/Morrisville,_North_Carolinahttp://en.wikipedia.org/wiki/Morrisville,_North_Carolinahttp://en.wikipedia.org/wiki/Cary,_North_Carolinahttp://en.wikipedia.org/wiki/Cary,_North_Carolinahttp://en.wikipedia.org/wiki/Durham_County,_North_Carolinahttp://en.wikipedia.org/wiki/Durham_County,_North_Carolinahttp://en.wikipedia.org/wiki/Wake_County,_North_Carolinahttp://en.wikipedia.org/wiki/Wake_County,_North_Carolinahttp://en.wikipedia.org/wiki/Piedmont_(United_States)http://en.wikipedia.org/wiki/Piedmont_(United_States)http://en.wikipedia.org/wiki/Cary,_North_Carolinahttp://en.wikipedia.org/wiki/Cary,_North_Carolinahttp://en.wikipedia.org/wiki/Combined_Statistical_Areahttp://en.wikipedia.org/wiki/Combined_Statistical_Areahttp://en.wikipedia.org/wiki/Office_of_Management_and_Budgethttp://en.wikipedia.org/wiki/Office_of_Management_and_Budgethttp://en.wikipedia.org/wiki/UNC-Chapel_Hillhttp://en.wikipedia.org/wiki/UNC-Chapel_Hillhttp://en.wikipedia.org/wiki/Duke_Universityhttp://en.wikipedia.org/wiki/Duke_Universityhttp://en.wikipedia.org/wiki/NC_State_Universityhttp://en.wikipedia.org/wiki/NC_State_Universityhttp://en.wikipedia.org/wiki/Research_Triangle_Parkhttp://en.wikipedia.org/wiki/Research_Triangle_Parkhttp://en.wikipedia.org/wiki/Research_Triangle_Parkhttp://en.wikipedia.org/wiki/Research_Triangle_Parkhttp://en.wikipedia.org/wiki/Research_Trianglehttp://en.wikipedia.org/wiki/Research_Trianglehttp://en.wikipedia.org/wiki/Chapel_Hill,_North_Carolinahttp://en.wikipedia.org/wiki/Chapel_Hill,_North_Carolinahttp://en.wikipedia.org/wiki/Durham,_North_Carolinahttp://en.wikipedia.org/wiki/Durham,_North_Carolinahttp://en.wikipedia.org/wiki/Dare_County,_North_Carolinahttp://en.wikipedia.org/wiki/Dare_County,_North_Carolinahttp://en.wikipedia.org/wiki/Roanoke_Islandhttp://en.wikipedia.org/wiki/Roanoke_Islandhttp://en.wikipedia.org/wiki/Roanoke_Colonyhttp://en.wikipedia.org/wiki/Roanoke_Colonyhttp://en.wikipedia.org/wiki/Roanoke_Colonyhttp://en.wikipedia.org/wiki/Roanoke_Colonyhttp://en.wikipedia.org/wiki/Sir_Walter_Raleighhttp://en.wikipedia.org/wiki/Sir_Walter_Raleighhttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/United_Stateshttp://en.wikipedia.org/wiki/List_of_United_States_cities_by_populationhttp://en.wikipedia.org/wiki/List_of_United_States_cities_by_populationhttp://en.wikipedia.org/wiki/Oakhttp://en.wikipedia.org/wiki/Oakhttp://en.wikipedia.org/wiki/Wake_County,_North_Carolinahttp://en.wikipedia.org/wiki/Wake_County,_North_Carolinahttp://en.wikipedia.org/wiki/Wake_County,_North_Carolinahttp://en.wikipedia.org/wiki/Wake_County,_North_Carolinahttp://en.wikipedia.org/wiki/List_of_North_Carolina_county_seatshttp://en.wikipedia.org/wiki/List_of_North_Carolina_county_seatshttp://en.wikipedia.org/wiki/North_Carolinahttp://en.wikipedia.org/wiki/North_Carolina
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    ean OShea, Managing Director C: 310.433.8851 T: 213.226.8719

    BRC

    T a x a b l e I n c o m e

    A r e a M a p