3800 Poplar Level Rd
Louisville, KY 40213

• Premier Drug Store Brand: Walgreen Co. (S&P: BBB), a subsidiary of Walgreens Boots Alliance Inc. (NASDAQ: WBA), operates 9,175 stores across 50 states, the District of Columbia and Puerto Rico. Walgreens Boots Alliance Inc. reported total revenues of $137.4 billion and net income of $3.7 billion as of November 30, 2019. • Recently Extended Net Lease: Walgreens recently executed an amendment extending the current term to May 31, 2029 and the terminable term to May 31, 2064, resulting in ±9 years of primary term remaining. While the overall lease term runs through May 31, 2064, Walgreens has options to terminate the lease as of May 31 in each of the following years: 2029, 2034, 2039, 2044, 2049, 2054 and 2059. • Above Market Rental Increase on June 1, 2029: Walgreens has an above market rental increase of ±31% on June 1, 2029 which provides attractive cash flow growth throughout the remaining term, provided Walgreens does not terminate the lease on or after May 31, 2029. • Excellent Access/Visibility: The site is strategically located with excellent access and visibility on a hard corner at the signalized intersection of Poplar Level Road (Traffic Count: 34,100 VPD) and Belmar Drive, which is just north of the exit ramp to Interstate 264 (Traffic Count: 185,955 VPD). • Historical Occupancy around Major Traffic Drivers: Walgreens has successfully operated at the site for 23 years, and benefits from its proximity to the largest traffic drivers in the area such as the Louisville Zoo (0.5 miles away | 860,000 annual visitors), Saint Xavier High School (1.5 miles away | 1,300 students), and Norton Audubon Hospital (1.3 miles away | 480 beds) which recently underwent $125mm renovation in 2018.