FAMILY DOLLAR - LoopNet · private brand merchandise. About Family Dollar One of the nation’s...
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Representative Photo FAMILY DOLLAR Baltimore, MD PATRICK NUTT Managing Partner 954.302.7365 | [email protected] ANDREW FALLON Executive Managing Director 703.787.4733 | [email protected] OFFERING MEMORANDUM C l i c k f o r C o n s t r u c t i o n T i m e l a p s e
Transcript of FAMILY DOLLAR - LoopNet · private brand merchandise. About Family Dollar One of the nation’s...
Representative Photo
FAMILY DOLLARBaltimore, MD
PATRICK NUTTManaging Partner954.302.7365 | [email protected]
ANDREW FALLONExecutive Managing Director703.787.4733 | [email protected]
OFFERING MEMORANDUM
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Family Dollar | Baltimore, MDOffering Memorandum
3801 W Forest Ave | Baltimore, MD 21216
Asking Price $3,280,000 | Cap Rate 6.45%
Net Operating Income (NOI) $211,772
Rent/Month $17,647.64
Rent/SF $23.07
Rentable Square Feet 9,180+/- SF
Land Area 0.78+/- Acres
Tenant Name Family Dollar
Guarantor Family Dollar Stores, Inc.
Ownership Type Fee Simple
Lease Type NNN
Landlord Responsibilities None
Lease Term Remaining 15 Years
Rent Commencement May 10, 2018
Lease Expiration June 30, 2034
Increases 5% in Lease Year 11 & Into Options
Options Six (6), Five (5) Year
Rent Schedule
Term Increases Annual Rent Monthly RentYears 1-10 - $211,772.00 $17,647.64
Years 11-15 5% $222,360.24 $18,530.02
Years 16-20 (Option 1) 5% $233,478.24 $19,456.52
Years 21-25 (Option 2) 5% $245,152.20 $20,429.34
Years 26-30 (Option 3) 5% $257,409.84 $21,450.81
Years 31-35 (Option 4) 5% $270,280.32 $22,523.36
Years 36-40 (Option 5) 5% $283,794.36 $23,649.52
Years 41-45 (Option 6) 5% $297,984.00 $24,832.00
Investment Highlights • Brand new build-to-suit
• 15-year absolute NNN lease
• 5% rent increases every 5 years starting in year 11 and into options
• Corporate guaranty
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Financial Summary
Family Dollar | Baltimore, MDOffering Memorandum
Dollar Tree Completes Acquisition of Family Dollar• Creates combined organization with sales exceeding $19 billion annually with
more than 13,600 stores across 48 states and five Canadian provinces
CHESAPEAKE, VA – July 6, 2015 – Dollar Tree, Inc. (Nasdaq: DLTR), North America’s leading operator of discount variety stores selling everything for $1 or less, announced today that it has completed the acquisition of Family Dollar Stores, Inc., a leading national discount retailer offering name brands and quality, private brand merchandise.
About Family DollarOne of the nation’s fastest growing retailers, Family Dollar offers a compelling assortment of merchandise for the whole family ranging from household cleaners to name brand foods, from health and beauty aids to toys, from apparel for every age to home fashions, all for everyday low prices. While shoppers can find many items at $1 or less, most items in the store are priced below $10, which makes shopping fun without stretching the family budget.
About Dollar TreeDollar Tree, Inc. is an American chain of discount variety stores that sells items for $1 or less. A Fortune 500 company, Dollar Tree is headquartered in Chesapeake, Virginia, and operates 13,600 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics network of ten distribution centers. The company operates one-dollar stores under the names of Dollar Tree and Dollar Bills. The company also operates a multi-price-point variety chain under the name Deals.
Dollar Tree competes in the dollar store and low-end retail markets. Each Dollar Tree stocks a variety of products including national, regional, and private-label brands. Departments found in a Dollar Tree store include health and beauty, food and snacks, party, seasonal décor, housewares, glassware, dinnerware, household cleaning supplies, candy, toys, gifts, gift bags and wrap, stationery, craft supplies, teaching supplies, automotive, electronics, pet supplies, and books. Most Dollar Tree stores also sell frozen foods and dairy items such as milk, eggs, pizza, ice cream, frozen dinners, and pre-made baked goods.
Tenant Snapshot# Locations
13,600+
Stock Symbol
Nasdaq: DLTR
Credit Rating
S&P: BBB-
Market Cap
$22.41B
Tenant Overview
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Tenant Overview
Family Dollar | Baltimore, MDOffering Memorandum
Location Overview
895
695
695
495
95
Distance To:Towson, MD 12 miles
Annapolis, MD 37 miles
Washington, DC 45 miles
Washington, DC
Baltimore, MD
Downtown Baltimore
Annapolis, MD
Subject Site
Subject Site 83
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3801 W Forest Park Ave | Baltimore, MD
Family Dollar | Baltimore, MDOffering Memorandum
Subject Site
BaltimoreINNER HARBOR
695
395
695
70
83
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3801 W Forest Park Ave | Baltimore, MD
Family Dollar | Baltimore, MDOffering Memorandum
Subject Site
Forest ParkSchool
Forest ParkGolf Course
GarrisonMiddle School
LibertyElementary School
Calvin RodwellElementary School
Wayland Village Senior Apartments
Liberty Heights Ave 37,160 VPD
Garrison Blvd 13,000 VPD
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3801 W Forest Park Ave | Baltimore, MD
Family Dollar | Baltimore, MDOffering Memorandum
Subject Site
Ayrd
ale
Ave
Garrison Blvd 13,000 VPD
LibertyElementary School
The Dorothy J Luxury Apartment Homes
W Forest Park Ave 10,760 VPD
Liberty Heights Ave 37,160 VPD
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Family Dollar | Baltimore, MDOffering Memorandum
Ayrd
ale A
ve
W Forest Park Ave
W Forest Park Ave 10,760 VPD
Garrison Blvd 13,000 VPD
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Site Plan
Family Dollar | Baltimore, MDOffering Memorandum
Radius 1 Mile 3 Miles 5 MilesPopulation2018 Population 25,270 203,883 519,279
2023 Population 24,370 198,206 515,278
2018 Male Population 44.8% 45.4% 46.9%
2018 Female Population 55.2% 54.6% 53.1%
2018 Median Age 42.5 39.9 37.7
Households2018 Total Households 9,822 80,981 209,196
2023 Total Households 9,443 78,522 207,520
2018 Average Household Size 2.54 2.47 2.36
Median Household Income2018 Median Household Income $40,562 $39,274 $45,953
2023 Median Household Income $45,996 $44,580 $53,664
2018-2023 Annual Rate 2.55% 2.57% 3.15%
Average Household Income2018 Average Household Income $54,183 $57,123 $67,708
2023 Average Household Income $64,661 $67,592 $80,669
2018-2023 Annual Rate 3.60% 3.42% 3.57%
Per Capita Income2018 Per Capita Income $21,528 $23,188 $28,375
2023 Per Capita Income $25,538 $27,274 $33,599
2018-2023 Annual Rate 3.48% 3.30% 3.44%
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Demographics
Family Dollar | Baltimore, MDOffering Memorandum
Baltimore, MDBaltimore is the largest city in the U.S. state of Maryland, and the 30th-most populous city in the United States. Baltimore was established by the Constitution of Maryland and is an independent city that is not part of any county. With a population of 621,849 in 2015, Baltimore is the largest independent city in the United States.
Baltimore - the colorful, diverse city that is Maryland’s largest city and economic hub, is known for its beautiful harbor; quirky, distinct neighborhoods; unique museums and the world-renowned Johns Hopkins Hospital to the east and the University of Maryland Medical Center to the west. With the rich history the city boasts however, it’s amazing that Baltimore hasn’t been deemed one of America’s greatest historical destinations.
On September 19, 2016 the Baltimore City Council approved a $660 million bond deal for the $5.5 billion Port Covington redevelopment project championed by Under Armour founder Kevin Plank and his real estate company Sagamore Development. The waterfront development that includes the new headquarters for Under Armour, as well as shops, housing, offices, and manufacturing spaces is projected to create 26,500 permanent jobs with a $4.3 billion annual economic impact.
Inner Harbour | Baltimore, MDForest Park Golf Course
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Market Overview
About UsCalkain Companies LLC is a boutique commercial real estate investment banking firm that provides consulting and brokerage services to both private and institutional clientele with a focus on single tenant net lease investments. It prides itself on being an innovative leader by providing its clients a full array of commercial real estate investment brokerage and asset management solutions, including advisory, research, debt and equity placement and wealth management.
Calkain has built solid, lasting relationships that have been the cornerstone of how they do business. Calkain approaches each assignment with an eye toward each client’s individual needs. Whether private or institutional investors, Calkain delivers real estate solutions that maximize value while building wealth for all of its clients.
At Calkain, their foresight and innovation are leading the net lease investment industry.
Building a solid foundation for your investment portfolio
calkain.com
Disclaimer: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
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