The subject property is the investment in the Leasehold Interest of a freestanding Walgreens Drugstore located in southeast Denver, Colorado. This store is a relocation of a successful, $15 million, in-line store that will be closed upon the opening of this store. The project is located at the corner of E. Hampden Ave. & S. Poplar St. adjacent to Tiffany Plaza (Whole Foods Grocery, 24 Hr. Fitness, Fresh Fish Restaurant, World Savings, Chipotle, Einstein Bagels). The site is surrounded by national retailers, hotels, and is just north of the Denver Technology Center. Walgreens is the dominant drugstore chain in Denver. The property consists of a new 13,300 sf Walgreens building with drive through lane, on a 27,959 sf parcel. This is an opportunity to own an A+ rated, Walgreens Drugstore at a higher than market return. The full property value may be depreciated, sheltering more of the cash flow - increasing the investor’s after tax return. All income will be NNN to the investor and is paid directly by Walgreens Company. There is a First Right to acquire the land under Walgreens building, enabling the investor the opportunity to own the land.

Tenant: Walgreens Company
Walgreens is our nation’s leading drug retailer operating 6,200 stores in 49 states, with revenues exceeding $53.8 Billion.  Walgreens sets the pace for all drugstores in the United States maintaining an A+ Credit Rating with Standard & Poors and Aa3 with Moody’s.  Walgreens leads the industry in new store development, capital investment and industry innovations.  Walgreens boasts 33 consecutive years of record sales and earnings.  The Company increased its market share in 58 of its top 60 product categories compared to food, drug and mass merchandise competitors. Prescription sales accounted for 64% of total sales in 2007. Comparable store sales increased 8.1% and Net Earnings per share increased by 18% for fiscal 2007.  Walgreens filled 583 million perscriptions in 2007.