The subject property is a new Walgreens Drugstore located in Minneapolis/St. Paul suburb of Anoka, MN. This is a build to suit Walgreens being added to the Meadow Creek Plaza Shopping Center (32,000 SF of mix-used tenants in three buildings including Caribou Coffee, Dairy Queen, Mansetti’s Pizza & Pasta, Subway, Fantastic Sams, Once Upon a Child, USA Karate, and Simonson’s Salon & Day Spa). The property is located at the intersection of Round Lake Blvd. (37,500 vehicles/day) & Bunker Lake Blvd. (22,000 vehicles/day) in Anoka. This is an extremely busy intersection with excellent visibility, surrounded by mutiple businesses, including CVS Pharmacy, Ace Hardware, Movie Gallery, US Bank, Checker Auto and McDonald’s and residential neighborhoods. Anoka County is the fourth most populous county in Minnesota and is part of the Twin Cities metropolitan region. Major employers in the City of Anoka include: Federal Cartridge Company, Hoffman Engineering Company, Lakeland Tool & Engineering Company, Copper Sales and Rural Community Insurance Services.

Tenant: Walgreens Company
Walgreens is our nation’s leading drug retailer operating 6,180 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.