Representative Photo WALGREENS - JLL Property

SINGLE TENANT NNN LEASE INVESTMENT OFFERING

ELLICOTT CITY, MD

Representative Photo

WALGREENS

3311 Centennial Lane, Ellicott City, MD 21042

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Statement of

Disclaimer/Confidentiality

The material contained in this Investment Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of Jones Lang LaSalle ("JLL") or Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.

The only party authorized to represent the Property Owner ("Owner") in connection with the sale of the Property is "JLL", and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Investment Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to Wilson Commercial Real Estate.

Neither "JLL", nor the Owner make any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future performance of the Property. This Offering Brochure may include certain statements and estimates by "JLL" with respect to the projected future performance of the Property. These assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, "JLL" and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Investment Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made

to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner, "JLL", nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Investment Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.

This Investment Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Investment Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner's sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agrees to release the Owner and "JLL" from any liability with respect thereto.

To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.

Ta b l e O f C o n t e n t s

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Investment Highlights...............................................................4 Rent Roll & Financial Summary...........................................5-6 Tenant Overview.........................................................................7 Map & Aerials........................................................................8-10 Site Plan & Elevation........................................................11-12 Location Overview & Demographics..............................13 Comps...........................................................................................14 Contact Information...............................................................15

The Offering

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Jones Lang LaSalle is pleased to offer for sale the fee simple interest in a single tenant, NNN leased Walgreens on a 75 year lease term. The property consists of a 14,490 square foot building, currently under construction with delivery scheduled for November 2014, situated on a 1.371 acre lot. The property is located at the signalized intersection of Baltimore National Pike US Route 40 and Centennial Ln offering visibility and two points of access to the approximately ?46,000 vehicles per day. The property is bordered to the north by I-70 Baltimore Outer Beltway and to the east by Rt 29 Columbia Pike. The property draws from a population of approximately 50,000 with an average household income of nearly $140,000 within a 3-mile radius.

Ellicott City is listed among America's most affluent communities. It is located in the third wealthiest county in the United States according to the U.S. Census Bureau. Since 2005, Ellicott City has been ranked four times among the top "10 Best Places to Live in the United States" by Money and Ellicott City offers great schools, convenient shopping, and great access to both Baltimore and DC.

The offering is designed for the long-term investor who desires stable cash flow in a premier location.

Investment Summary

Offering Price: Submit Offers

Address: Submarket: Year Built: Site Area: Net Rentable Area: Percent Leased: Parcel number: Ownership:

3311 Centennial Lane Ellicott City/Howard County 2014/15 (Delivered 1Q) 1.371 ac 14,490 Sq. Ft. 100% 02-235900 Fee Simple

Investment Highlights

LONG TERM NNN LEASE

New 75 Year Absolute NNN Lease (20 Year base term) with rental increases guaranteed by Walgreen Co. (NYSE: WAG)

Six (5) Year Termination Options After 20th Year Walgreen Co. holds a BBB/Stable S&P rating

HIGH VISIBILITY & TRAFFIC COUNTS

Positioned on the southeast corner at the signalized intersection of Centennial Ln and Baltimore National Pike/US Route 40 (?46,000 VPD), in Ellicott City, MD

AFFLUENT TRADE AREA

Ellicott City is listed among America's most affluent communities and designated one of the top ten most desirable places to live. Average household incomes exceed $170,000 within a mile radius of the property

NEW PROTOTYPE AND ABSOLUTE NNN LEASE

The Property is currently under construction with scheduled delivery of Spring 2015 and represents Walgreens' current prototype. The lease features no landlord responsibilities

Rent Roll

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TENANT INFO LEASE TERMS

Tenant Name Size Lease Starts Lease Ends

RENT SCHEDULE

Term

Rent

Walgreens 14,490 SF 6/01/14 5/31/89 2/01/2015? 5/31/2034 $52,109.75

$/SF $3.60

RENT INCREASES

Date

Rent Increases

6/01/34 ? 5/31/44 6/01/44 ? 5/31/54 6/01/54 ? 5/31/64 6/01/64 ? 4/30/74 5/01/74 ? 5/31/84 6/01/84 ?5/31/89

$55,401.42 $59,030.58 $63,013.50 $67,394.67 $72,214.00 $77,515.25

Monthly PSF

OPTIONS

$3.82 $4.07 $4.35 $4.65 $4.98 $5.35

Tenant has the option to terminate the lease on the last day of the 20th year, and every

5th year thereafter through the

expiration of the lease.

LEASE NNN

Totals: 14,490

$52,109.75 $3.60

The information herein has been secured from sources we believe to be reliable; however, +POFT-BOH-B4BMMF makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, changes of price or conditions prior to the sale or lease, or withdrawal without notice.

Financial Summary

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Tenant: DBA: Property Address: Year Built: Building Size: Lot Size: Rent Commencement: Lease Expiration: Term Remaining: Lease Term Note:

Rent Increases: Lease Type: Roof/Structure:

Parking Lot:

HVAC:

LEASE ABSTRACT

Walgreens Co. (Corporate Lease) Walgreen's 3311 Centennial Ln Ellicott City, MD 21042 2014 ?14,490 SF ?1.371 Acres 2/1/2015 (scheduled) 5/31/2089 75 years Tenant has the option to terminate the lease on the last day of the 20th year, and every 5th year thereafter through the expiration of the lease Scheduled rental increases at each option period Absolute NNN Landlord maintains, repairs, and replaces the structural elements of the Building, including the roof for one (1) year after the Possession Date. The roof has a 20 year manufacturer warranty Tenant maintains; Landlord repairs and replaces for one (1) year after the Possession Date Tenant maintains and replaces

PRICE

PRICE

Submit Offers

OPERATING STATEMENT

Gross Potential Rent:

$625,317

Vacancy

0% $0

Effective Gross Income:

$625,317

Less Expenses

NNN

Net Operating Income:

$625,317

The information herein has been secured from sources we believe to be reliable; however, +POFT-BOH-B4BMMF makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, changes of price or conditions prior to the sale or lease, or withdrawal without notice.

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

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Walgreens is the #1 pharmacy in America by any measure.

Traded on the New York Stock Exchange (NYSE: WAG), Walgreens operates 8,541 locations, including 8,116 drug stores in all 50 states, the District of Columbia and Puerto Rico. Walgreens is widely regarded as one of the safest, most secure single-tenant NNN leased investment properties because of its strong balance sheet and market capitalization. Walgreens maintains investment grade credit with a Standard & Poor's rating of BBB. Over 4.7 million customers are served by Walgreens daily chain-wide and over 580 million prescription scripts are filled annually. Walgreens was founded in Chicago, Illinois, in 1901 and has since expanded throughout the United States. Its headquarters are located in Deerfield, Illinois, a suburb of Chicago. Its main competitors are CVS/pharmacy, Wal-Mart, Rite Aid as well as Target Corporation and Osco.

A typical Walgreens store is about 14,500 square feet with 11,000 square feet of sales area.They offer nearly 25,000 items for sale and typically staff between 25 and 30 people per store. On average, one store pulls in $8.5 million in annual sales. Most stores include a pharmacy, photo lab, cosmetics counter, and a general merchandise area. Select stores in metropolitan Chicago, Florida, Atlanta, Kansas City, Nashville, Las Vegas, and St. Louis now include Walgreens TakeCare Health Clinics where certified (primarily nurse practitioners, and in some states, registered pharmacist) staff diagnose, treat, and prescribe for common illnesses and can also issue vaccinations and physicals in select locations. These clinics are open 7 days a week; including evenings and weekends with no appointments necessary and with acceptance of most major insurance plans. If a patient uses the TakeCare Clinic, their prescription is automatically processed through Walgreens' Intercom Plus Pharmacy System as a waiting rescription, so in most stores, the prescription is ready to be picked up in 15 to 20 minutes.

Corporate Information

Ticker Symbol: NYSE: WAG, NASDAQ: WAG Founded: 1901, Chicago, IL Revenue: $72.18 Billion (FY 2011) Net Worth: $14.67 Billion (FY 2011) Credit: S&P Investment Grade Employees: 247,000 No. of Locations: 8,300 Website:

Tenant Highlights

S&P Rated Investment Grade Credit Largest Drug Store Retailer in the Country 8,300+ Locations in 50 States, DC and Puerto Rico $72+ Billion in Annual Sales $14.6+ Billion Net Worth

Regional Map

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