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Net leased

  1. 1. NET LEASED INVESTMENT OFFERINGDollar General (Austin MSA) 8017 Bronco Lane Lago Vista, TX 78645
  2. 2. TABLE OF CONTENTS NET LEASED INVESTMENT OFFERING TABLE OF CONTENTS1) Confidentiality & Disclaimer2) Executive Summary3) Property Overview4) Aerial5) Site Plan6) Map7) Tenant Profile8) Demographic Comparison Report9) Location Overview10) Contact Information
  3. 3. CONFIDENTIALITY & DISCLAIMER NET LEASED INVESTMENT OFFERING CONFIDENTIALITY CONFIDENTIALITY & DISCLAIMERThe information contained in the following Offering Memorandum is proprietary and strictly confidential. It isintended to be reviewed only by the party receiving it from The Boulder Group and should not be made available toany other person or entity without the written consent of The Boulder Group. This Offering Memorandum has beenprepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminarylevel of interest in the subject property. The information contained herein is not a substitute for a thorough duediligence investigation. The Boulder Group has not made any investigation, and makes no warranty orrepresentation. The information contained in this Offering Memorandum has been obtained from sources webelieve to be reliable; however, The Boulder Group has not verified, and will not verify, any of the informationcontained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes nowarranty or representation whatsoever regarding the accuracy or completeness of the information provided. Allpotential buyers must take appropriate measures to verify all of the information set forth herein.
  4. 4. EXECUTIVE SUMMARY NET LEASED INVESTMENT OFFERING EXECUTIVE SUMMARYThe Boulder Group is pleased to exclusively market for sale a single tenant Dollar General property located within theAustin MSA. The property is located in Lago Vista, which is 20 miles northwest of Austin. The 9,014 square foot DollarGeneral property was built in 2006 and is located on a 1.52 acre land parcel. The lease features 12% rental escalations ineach of the three option periods. Residents living within one mile of the property achieve average household incomes inexcess of $70,000 annually.The property is located along Bronco Lane and benefits from its location off Ranch Road, a primary thoroughfare in LagoVista. Nearby retailers include CVS, Ace Hardware and Lowe’s Market grocery store. The property is located across thestreet from Lago Vista Middle School, Lago Vista High School and the Lago Vista Sports Complex which features a naturepreserve, swimming pool, softball fields and lighted tennis courts. Due to a growing population, Lago Vista received a$29.6 million bond for a new high school which will be completed in 2014. Lago Vista Middle School will be expanding intothe current high school space to accommodate a larger student body.Dollar General executed a 10 year lease in 2006 with three 5-year renewal options and the lease expires in July 2016.There are 12% rental escalations in each of the renewal option periods. Dollar General is a publicly traded company on theNew York Stock Exchange (DG), with a market capitalization of $14 billion. Dollar General is an investment grade ratedcompany with a Standard & Poor’s rating of BBB-.INVESTMENT HIGHLIGHTS • Located within the Austin MSA • Investment grade company with an S&P rating of BBB- • Average household income in excess of $70,000 within one mile of the property • 12% rental escalations in each option period • Frontage along primary thoroughfare in the area • Nearby retailers include CVS, Ace Hardware and a Lowe’s Market grocery store • The population of Travis County has increased 26% since 2000
  5. 5. PROPERTY OVERVIEW NET LEASED INVESTMENT OFFERING PROPERTY PROPERTY OVERVIEWPrice: $832,500Cap Rate: 8.80%Rent Schedule: NOI Escalation Date $ 73,260 $ 82,080 8/1/2016 (Option 1) $ 91,920 8/1/2021 (Option 2) $ 102,960 8/1/2026 (Option 3)sploRenewal Options: Three 5-YearLease Commencement Date: August 1, 2006Lease Expiration Date: July 31, 2016Tenant: Dollar GeneralCredit Rating: BBB- (Standard and Poor’s)Year Built 2006Sc sc Lease Type: NN* (Roof, Structure and Parking Lot Replacement)Rentable Square Feet: 9,014Land Size: 1.52 Acres*Landlord responsible for roof, structure, parking lot replacement and any HVAC cost over$1,000. Additionally tenant pays landlord a monthly fee of $262.90 for cost of care andmaintenance of parking lot for remainder of primary term and fee escalates in each renewaloption period.
  9. 9. TENANT PROFILE NET LEASED INVESTMENT OFFERING TENANT PROFILEDollar General Corporation operates as a discount retailer of general merchandise in the southern, southwestern,midwestern, and eastern United States. As of March 2012, Dollar General operated approximately 10,000 storesthroughout 40 states. Dollar General offers consumables, home cleaning supplies, packaged food and perishables,beverages and snacks, over-the-counter medicines, personal care products and pet supplies and pet food products. Italso provides seasonal products, prepaid cell phones and accessories, automotive supplies and apparel products. In2011, Dollar General planned 625 new stores in 35 states as well as the remodeling or relocation of 550 stores.Additionally, Dollar General hired 6,000 employees in 2011.Website: www.dollargeneral.comNumber of Locations: 10,000 +Stock Symbol: DG : NYSEStandard & Poor’s Rating: BBB-Market Capitalization: $14 billionEmployees: 90,000
  10. 10. DEMOGRAPHIC COMPARISON REPORT NET LEASED INVESTMENT OFFERING DEMOGRAPHIC COMPARISON REPORTPopulation 5-mi. 10- 10-mi 15-miTotal Population 12,155 155,502 352,193Total Households 5,126 57,736 137,533IncomeMedian Household Income $60,242 $78,347 $83,963Average Household Income $80,718 $99,010 $107,614
  11. 11. LOCATION OVERVIEW NET LEASED INVESTMENT OFFERING LOCATION OVERVIEW Lago Vista is a city in Travis County, Texas, approximately 20 miles northwest of Austin. Lago Vista is located on the north shore of Lake Travis along the Colorado River. Lake Travis spans 18,000 acres and offers a natural environment with beaches, mountain biking, camping, hiking, boat rentals, marinas, and prime fishing spots. Travis County is located within the Austin MSA. According to the 2010 census Travis County had a ocated population of 1,024,266, an increase of 400,000 since 1990. Austin is the capital of Texas and the county seat of Travis County. According to the 2010 U.S. census Austin had a population of 820,000, making it the fourth most populous city in Texas and the 13 most populous city in the United States. Austin is one of the fastest growing cities in the United States evidenced by a 20% population fastest increase over the last ten years. Over the past thirty years Austin has emerged as a center for business and technology. Austin is home to many Fortune 500 companies including Apple, Google, IBM, Texas Instruments, 3M and Whole Foods Market. Dell’s worldwide headquarters is also located in Round Rock, a suburb of Austin. Austin is considered to a major center for high tech companies. Apple is currently in progress of a $300 million exp expansion project in Austin which will create over 3,500 jobs. The University of Texas is located within thecity of Austin and has a student population of over 51,000. The University of Texas helps Austin source a steadyflow of employees, which helped Forbes rank Austin as “The Best City for Jobs” in 2012, due to its strong growthin manufacturing, technology-related employment and business services.
  12. 12. CONTACT INFORMATION NET LEASED INVESTMENT OFFERING CONTACT INFORMATION 666 Dundee Road Suite 1801 Northbrook, IL 60062Randy Blankstein Jimmy GoodmanPresident Partner847.562.0003