Cove Pharmacy Net Lease 65 DST

Encinitas (San Diego County), CA


Asset Class:Single Tenant Net Lease
Leverage:0% - All-Cash/Debt-free
Location(s):Encinitas (San Diego County), CA
Minimum Investment:$50,000
Current Distribution:Monthly/Inquire
Offering Type:DST
1031 Exchange Qualified:Yes

Property Description

Pharmacy Net Lease 65 DST is a 11,370 square-foot Walgreens pharmacy on a new 15-year absolute triple-net lease, corporately backed by Walgreens Boots Alliance (NYSE: WBA; S&P: BBB). The property is well located in a dense commercial thoroughfare and retail trade area neighboring multiple regional retail centers: Encinitas Marketplace, Encinitas Village Shopping Center, and Camino Real Shopping Center, all with national tenants. National tenants include Sprouts Farmers Market, Kohl's, Peet's Coffee, LA Fitness, and several others.

MSA Details

Encinitas is a beach city in the North County area of San Diego County, California. Located within Southern California, it is approximately 25 miles (40 km) north of San Diego, between Solana Beach and Carlsbad, and about 95 miles (153 km) south of Los Angeles. As of the 2010 census, the city had a population of 59,518, up from 58,014 at the 2000 census.

Property Highlights

  • All-Cash, Debt Free offering; 11,370 sq ft Walgreens Pharmacy
  • 100% occupied; leased through December 31, 2037 (with five, 5-year renewal options)
  • The lease is fully guaranteed by Walgreens corporate credit; Walgreens parent, Walgreens Boot Alliance (NYSE: WBA), is a publicly traded company and reported 2019 sales of $136.9 billion
  • WBA has a $40 Billion+ market cap
  • Approximately 25 miles (40 km) north of San Diego, between Solana Beach and Carlsbad, and about 95 miles (153 km) south of Los Angeles
  • The property neighbors regional retail centers: Encinitas Marketplace, Encinitas Village Shopping Center, and Camino Real Shopping Center. National tenants in the surrounding area include Spouts Farmers Market, Kohl's, Peet's Coffee, LA Fitness, and several others

Source: Brochure

The market information provided above may not predict the future performance of the property.

*Distribution is not guaranteed and is subject to available cash flow. For further information about cash flow distributions from operations and capital events, please refer to the offering’s Private Placement Memorandum.

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Risks & Disclosures

All offerings shown are Regulation D Rule 506c offerings.

This material has been prepared for accredited investors (generally described as having a net worth of over $1 million dollars exclusive of primary residence) and accredited entities only. If you are unsure if you are an accredited investor and/or an accredited entity, please verify with your CPA and Attorney prior to considering an investment.

The information herein has been prepared for educational purposes only and does not constitute an offer to purchase securitie or real estate investments. Such offers are only made through the sponsors Private Placement Memorandum (PPM) which is solely available to accredited investors and accredited entities.

IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax concepts, therefore you should consult your legal or tax professional regarding the specifics of your particular situation prior to considering an investment.

This material is not to be interpreted as tax or legal advice. Please speak with your own tax and legal advisors for advice/guidance regarding your particular situation.

There are risks associated with investing in real estate and Delaware Statutory Trust (DST) properties including, but not limited to, loss of entire investment principal, declining market values, tenant vacancies and illiquidity.

Investors should read the PPM carefully before investing paying special attention to the risk section.

Because investors situations and objectives vary this information is not intended to indicate suitability for any particular investor. Please speak with your CPA and Attorney to determine if an investment in real estate and DST properties is suitable for your particular situation/circumstances.

Past performance is not indicative of future returns.

Potential cash flows/returns/appreciation are not guaranteed and could be lower than anticipated.

There are significant limitations on the ability to sell or transfer interests.

Expected cash flows and returns may not be realized and a loss of invested capital is possible.

The Sponsor, Co-Sponsor, Master Tenant, Trustee & Affiliates will all receive substantial fees relating to the syndication, ongoing management and disposition of this offering.

Securities offered through FNEX Capital, member FINRASIPC.

There are important risks specific to each tenant and their respective leases, including expiration dates, early termination options, renewal options and economics relating to rents paid and expense reimbursements. Should a tenant fail to meet their obligations, terminate early or fail to renew their lease it could have a material negative impact on the financial performance of this property.