Net lease-dollar-general-property-for-sale
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Transcript of Net lease-dollar-general-property-for-sale
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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Dollar General Plus1333 East Main Street
Rock Hill, SC 29730 (Charlotte MSA)
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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
1) Confidentiality&Disclaimer
2) ExecutiveSummary
3) PropertyOverview
4) Aerial
5) SitePlan
6) Maps
7) TenantProfile
8) DemographicComparisonReport
9) LocationOverview
10) ContactInformation
TABLE OF CONTENTS
TABLE OF CONTENTS
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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.
CONFIDENTIALITY & DISCLAIMER
CONFIDENTITALITY & DISCLAIMER
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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
TheBoulderGroupispleasedtoexclusivelymarketforsaleasingletenantnetleasedDollarGeneralPluspropertylocatedwithintheCharlotteMSA.The12,480squarefootbuildingisarelocationofapreviouslysuccessfultraditional-sizedDollarGeneralstore.Duetothesuccessofthepreviouslocation,DollarGeneralelectedtobuildoneoftheirlargerformatDollarGeneralPlusstores.DollarGeneralPlusarelargerthantraditionalDollarGeneralstoresandhavemorecoolers/freezerstokeepmoreperishableitemsinstock.TheDollarGeneralPlusleasehasover13yearsremainingandfeaturesarentalescalationinyearelevenand10%rentalescalationsineachrenewaloption.DollarGeneralisaninvestmentgraderatedtenant(S&P:BBB-).
The3.84acreDollarGeneralPlusparcelislocatedalongMainStreetapproximatelyonemilefromaccesstoInterstate77.MainStreetisaprimarythoroughfarethatexperiencestrafficcountsinexcessof23,000vehiclesperday.TheDollarGeneralPlusislocatedapproximately25milessouthofdowntownCharlotte.ThepropertyisbenefittedfromitslocationadjacenttoaBi-LoanchoreddevelopmentandacrossthestreetfromaFoodLion.Thereareover80,000peoplelivingwithinafivemileradiusofthepropertyearningaveragehouseholdincomesofapproximately$55,000.
DollarGeneralPlushasover13years remainingon theirabsolutenet lease thatexpires inOctober2027.The leasefeaturesa rental escalation in theeleventh lease yearand10% rental escalations ineachof the six5-year renewaloptions.DollarGeneral isan investmentgradecompany(S&P:BBB-)andispubliclytraded(NYSE:DG)withamarketcapitalizationinexcessof$17billion.
INVESTMENT HIGHLIGHTS
•LocatedwithintheCharlotteMSA
•Relocationofapreviouslysuccessfulinlinestore
•Longtermleasewithover13yearsremaining
•Investmentgradetenant(S&P:BBB-)
•Rentalescalationinthe11thleaseyearand10%rentalescalationsineachrenewaloption
•Recentconstruction
•Nolandlordresponsibilities
•Locatedalongaprimarythoroughfareapproximatelyonemilefrom accesstoInterstate77
•StrongretailcorridoradjacenttoaBi-Logroceryanchored developmentandacrossthestreetfromaFoodLiongrocerystore
•AboveaveragedemographicsforaDollarGenerallocationwithover 115,000peoplelivingwithinasevenmileradiusearningaverage householdincomesinexcessof$61,000
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
PROPERTY OVERVIEW
PROPERTY OVERVIEW
Price: $3,162,451
CurrentCapRate: 6.20%
RentSchedule: NOI EscalationDate
$196,073$201,955 11/1/2022$222,150 11/1/2027(Option1)$244,365 11/1/2032(Option2)$268,801 11/1/2037(Option3)$295,682 11/1/2042(Option4)$325,250 11/1/2047(Option5)$357,775 11/1/2052(Option6)
RenewalOptions: Six5-Year
LeaseCommencementDate: November1,2012
LeaseExpirationDate: October31,2027
Tenant: DollarGeneralPlus
Credit: InvestmentGrade(S&P:BBB-)
YearBuilt: 2012
LeaseType: NNN
BuildingSize: 12,480SF
LandSize: 3.84acres
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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AERIAL
AERIAL
N
BELLEVUE ELEMENTARY SCHOOL
23,000 VPD
1 MILE77
MAIN STREET
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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
SITE PLAN
SITE PLAN
E MAIN STREET
N
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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
MAPS
MAPS
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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Dollar General Corporationoperatesasadiscountretailerofgeneralmerchandiseinthesouthern,southwestern,midwestern, and easternUnitedStates. As ofMarch2012,DollarGeneral operated approximately 10,000storesthroughout40states.DollarGeneraloffersconsumables,homecleaningsupplies,packagedfoodandperishables,beveragesandsnacks,over-the-countermedicines,personalcareproductsandpetsuppliesandpetfoodproducts.Italsoprovidesseasonalproducts,prepaidcellphonesandaccessories,automotivesuppliesandapparelproducts.In2013,DollarGeneralplanned635newstoresandremodelorrelocateanadditional550stores.
DollarGeneralisaninvestmentgraderatedtenantwithaStandard&Poor’sRatingofBBB-.DollarGeneralispubliclytradedontheNewYorkStockExchange(DG)withamarketcapitalizationinexcessof$17billion.
Website: www.dollargeneral.comNumberofLocations: 10,000+StockSymbol: DG:NYSEStandard&Poor’sRating: BBB-MarketCapatilization: $17billionEmployees: 90,000
TENANT PROFILE
TENANT PROFILE
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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
Population 3-mi 5-mi 7-mi
TotalPopulation 35,867 80,479 115,201TotalHouseholds 13,712 31,882 44,759
Income
MedianHouseholdIncome $29,887 $39,038 $45,268AverageHouseholdIncome $44,016 $54,916 $61,876
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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Rock Hill islocatedinthenorth-centralareaofSouthCarolinaapproximately20milessouthofCharlotte,NCalongtheInterstate77corridor.RockHillisagrowingcommunityof67,000residents,andthecityencompassesover36squaremiles.RockHill isthelargestcityinYorkCounty,SCandtheonlymajorSouthCarolinacityintheCharlotteMSA.RockHillisthefifth-largestcityinSouthCarolina.
www.cityofrockhill.com
CharlotteisthelargestcityinNorthCarolinaandtheseatofMecklenburgCounty.In2013,theestimatedpopulationofCharlottewas792,862,makingitthe16thlargestcityintheUnitedStates.TheCharlottemetropolitanareaisthe23largestintheU.S.andhada2013populationof2,335,358.CharlottehasbecomeamajorU.S.financialcenterandisnowthesecondlargestbankingcenterintheUnitedStates(afterNewYork).ItistheheadquarterstoBankofAmerica,thenation’ssecondlargestfinancialinstitution.CharlottehaseightFortune500companiesin
itsmetropolitanarea,listedinorderoftheirrank:BankofAmerica,Lowe’s,Nucor(steelproducer),DukeEnergy,SonicAutomotive,FamilyDollar,SPXCorporation(industrialtechnology),andDomtar.
www.charmeck.org
LOCATION OVERVIEW
LOCATION OVERVIEW
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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
CONTACT INFORMATION
CONTACT INFORMATION
666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]