1031 PROPERTY

Walgreens Drugstore

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State	MN
Sale price	$ 7,446,154
Cap Rate	6.60%
Lease Term (Years)	25.00
Credit Rating	S&P Rated A+
Net Worth	7.37 Billion
Lease Type	NNN
Landlord Responsibilities	Net. Net. Net. No landlord responsibilities.
Property Type	Retail
Guarantor	Walgreens Company
Tenant Mix	Single Tenant
Tenant Number
Tenant Web Site	http://www.walgreens.com/
Tenant Information	Founded in 1901, Walgreens is a national retail pharmacy chain considered to be the leader in innovative drugstore retailing. Walgreen Company's primary business is the operation of retail drugstores. The Company is a drugstore chain in the United States with stores located in 44 states and Puerto Rico. During the fiscal year ended August 31, 2004 (fiscal 2004), the Company opened 436 stores. In fiscal 2004, Walgreen had 4,579 stores and three mail service facilities. To support store expansion, the Company opened four distribution centers in the past three years, the most recent in Moreno Valley, California, in fiscal 2004.
Ticker Symbol	WAG
NOI	$ 484,000.00
Rent Adjustments	Years 1-25: $484,000
Percentage Rent	2% gross sales after natural breakpoint, except food, prescriptions and alcoholic beverages at 0.5%.
Lease Renewal Options	Ten 5-year options to terminate after initial 25 years
Lease Term (Years)	25.0
Price per Square Foot	$ 496.41
Rent per Square Foot	$ 32.27
Property Status	Under L.O.I.
Lease Commencement	January
Rent Commencement	March
Notes on Lease	Net. Net. Net. No landlord responsibilities.
Square Feet	15,000
Land Area	1.61 Acres
Year Built	2006
Year Rennovated	New
Existing Financing	No
Loan Amount
Loan Term
Loan Rate
Balloon
Equity
Loan Assumption Fee
Loan Prepayment Fee
Cash on Cash
Debt Notes	N/A