Rochester, NY

• Sales to rent ratio under 2%.
• 18.4 million square feet of industrial space with Amazon, General Motors and L3 within 5 miles.
• Strong employment base with Kodak, FedEx, Pepsi and University of Rochester within 6 miles.
• Unity Hospital just 2 miles north with 471 beds and over 1,000 employees.
• Solid population demographic with ±208,654 residents in a 5-mile radius.

Pharma Property Group is pleased to market for sale the Walgreens property located at 430 Spencerport Road in Rochester, New York (the "Property"). Walgreens has agreed to a new 15-year absolute net lease with no landlord responsibilities whatsoever. The lease includes 5% rental increases every 5 years in the initial term and in each of the 12 (5-year) options.

The Property is located in one of New York's strongest upstate economies and benefits from over 18 million square feet of industrial space within 5 miles including the 288-acre Rochester Technology Park. Amazon, FedEx, Pepsi, Kodak and numerous other healthcare companies have fulfillment or distribution centers within this 5-mile radius. This strong employment base in combination with the dense population of over 200,000 residents and over 80,000 households within a 5-mile radius gives the Property a stable base of customers into the future and is one of the reasons Walgreens has approved a new 15-year lease after nearly 20 years of operating history.

The Property has a modest rent level of $15 per square foot allowing for an investor to have a 15-year lease from a Fortune 50 company with replaceable rent levels and future upside with 5% rental increases every 5 years for the duration of the 75-year lease. The Property is truly a unique opportunity for an investor to purchase a 15-year Walgreens under the $4 Million price point in a market that is much denser than many other competing Walgreens available on the market at similar price points and 15 years of lease term.