The subject property is a freestanding Walgreens Drugstore located at a high traffic intersection in the upscale Minneapolis / St. Paul suburb of North Oaks, MN. At one time, North Oaks was a gated community. The median household income in the City is $149,158. Retailers in the immediate area include Rainbow Foods, Starbucks, Dairy Queen, Guaranty Bank, and Bank Cherokee. The Village Center Mall is adjacent to the Walgreens site. Walgreens has chosen this high traffic location to serve this high income, residential community. North Oaks is centered around Pleasant Lake.

Tenant: Walgreens Company
Walgreens is our nation’s leading drug retailer operating 6,849 stores in 49 states, with revenues exceeding $54 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.