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Net lease-dollar-general-property-for-sale

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The Boulder Group is selling a single tenant net leased Dollar General

The Boulder Group is selling a single tenant net leased Dollar General

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  • 1. NET LEASED INVESTMENT OFFERING www.bouldergroup.com Dollar General Plus 1333 East Main Street Rock Hill, SC 29730 (Charlotte MSA)
  • 2. NET LEASED INVESTMENT OFFERING www.bouldergroup.com 1) Confidentiality & Disclaimer 2) Executive Summary 3) Property Overview 4) Aerial 5) Site Plan 6) Maps 7) Tenant Profile 8) Demographic Comparison Report 9) Location Overview 10) Contact Information TABLE OF CONTENTS TABLE OF CONTENTS
  • 3. NET LEASED INVESTMENT OFFERING www.bouldergroup.com The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes 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. CONFIDENTIALITY & DISCLAIMER CONFIDENTITALITY & DISCLAIMER
  • 4. NET LEASED INVESTMENT OFFERING www.bouldergroup.com The Boulder Group is pleased to exclusively market for sale a single tenant net leased Dollar General Plus property located within the Charlotte MSA. The 12,480 square foot building is a relocation of a previously successful traditional-sized Dollar General store. Due to the success of the previous location, Dollar General elected to build one of their larger format Dollar General Plus stores. Dollar General Plus are larger than traditional Dollar General stores and have more coolers/freezers to keep more perishable items in stock. The Dollar General Plus lease has over 13 years remaining and features a rental escalation in year eleven and 10% rental escalations in each renewal option. Dollar General is an investment grade rated tenant (S&P: BBB-). The 3.84 acre Dollar General Plus parcel is located along Main Street approximately one mile from access to Interstate 77. Main Street is a primary thoroughfare that experiences traffic counts in excess of 23,000 vehicles per day. The Dollar General Plus is located approximately 25 miles south of downtown Charlotte. The property is benefitted from its location adjacent to a Bi-Lo anchored development and across the street from a Food Lion. There are over 80,000 people living within a five mile radius of the property earning average household incomes of approximately $55,000. Dollar General Plus has over 13 years remaining on their absolute net lease that expires in October 2027. The lease features a rental escalation in the eleventh lease year and 10% rental escalations in each of the six 5-year renewal options. Dollar General is an investment grade company (S&P: BBB-) and is publicly traded (NYSE: DG) with a market capitalization in excess of $17 billion. INVESTMENT HIGHLIGHTS • Located within the Charlotte MSA • Relocation of a previously successful inline store • Long term lease with over 13 years remaining • Investment grade tenant (S&P: BBB-) • Rental escalation in the 11th lease year and 10% rental escalations in each renewal option • Recent construction • No landlord responsibilities • Located along a primary thoroughfare approximately one mile from access to Interstate 77 • Strong retail corridor adjacent to a Bi-Lo grocery anchored development and across the street from a Food Lion grocery store • Above average demographics for a Dollar General location with over 115,000 people living within a seven mile radius earning average household incomes in excess of $61,000 EXECUTIVE SUMMARY EXECUTIVE SUMMARY
  • 5. NET LEASED INVESTMENT OFFERING www.bouldergroup.com PROPERTY OVERVIEW PROPERTY OVERVIEW Price: $3,162,451 Current Cap Rate: 6.20% Rent Schedule: NOI Escalation Date $196,073 $201,955 11/1/2022 $222,150 11/1/2027 (Option 1) $244,365 11/1/2032 (Option 2) $268,801 11/1/2037 (Option 3) $295,682 11/1/2042 (Option 4) $325,250 11/1/2047 (Option 5) $357,775 11/1/2052 (Option 6) Renewal Options: Six 5-Year Lease Commencement Date: November 1, 2012 Lease Expiration Date: October 31, 2027 Tenant: Dollar General Plus Credit: Investment Grade (S&P: BBB-) Year Built: 2012 Lease Type: NNN Building Size: 12,480 SF Land Size: 3.84 acres
  • 6. NET LEASED INVESTMENT OFFERING www.bouldergroup.com AERIAL AERIAL N BELLEVUE ELEMENTARY SCHOOL 23,000 VPD 1 MILE 77 MAIN STREET
  • 7. NET LEASED INVESTMENT OFFERING www.bouldergroup.com SITE PLAN SITE PLAN E MAIN STREET N
  • 8. NET LEASED INVESTMENT OFFERING www.bouldergroup.com MAPS MAPS
  • 9. NET LEASED INVESTMENT OFFERING www.bouldergroup.com DollarGeneralCorporationoperatesasadiscountretailerofgeneralmerchandiseinthesouthern,southwestern, midwestern, and eastern United States. As of March 2012, Dollar General operated approximately 10,000 stores throughout 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. It also provides seasonal products, prepaid cell phones and accessories, automotive supplies and apparel products. In 2013, Dollar General planned 635 new stores and remodel or relocate an additional 550 stores. Dollar General is an investment grade rated tenant with a Standard & Poor’s Rating of BBB-. Dollar General is publicly traded on the New York Stock Exchange (DG) with a market capitalization in excess of $17 billion. Website: www.dollargeneral.com Number of Locations: 10,000+ Stock Symbol: DG: NYSE Standard & Poor’s Rating: BBB- Market Capatilization: $17 billion Employees: 90,000 TENANT PROFILE TENANT PROFILE
  • 10. NET LEASED INVESTMENT OFFERING www.bouldergroup.com DEMOGRAPHIC COMPARISON REPORT DEMOGRAPHIC COMPARISON REPORT Population 3-mi 5-mi 7-mi Total Population 35,867 80,479 115,201 Total Households 13,712 31,882 44,759 Income Median Household Income $29,887 $39,038 $45,268 Average Household Income $44,016 $54,916 $61,876
  • 11. NET LEASED INVESTMENT OFFERING www.bouldergroup.com Rock Hill is located in the north-central area of South Carolina approximately 20 miles south of Charlotte, NC along the Interstate 77 corridor. Rock Hill is a growing community of 67,000 residents, and the city encompasses over 36 square miles. Rock Hill is the largest city in York County, SC and the only major South Carolina city in the Charlotte MSA. Rock Hill is the fifth-largest city in South Carolina. www.cityofrockhill.com Charlotte is the largest city in North Carolina and the seat of Mecklenburg County. In 2013, the estimated population of Charlotte was 792,862, making it the 16th largest city in the United States. The Charlotte metropolitan area is the 23 largest in the U.S. and had a 2013 population of 2,335,358. Charlotte has become a major U.S. financial center and is now the second largest banking center in the United States (after New York). It is the headquarters to Bank of America, the nation’s second largest financial institution. Charlotte has eight Fortune 500 companies in its metropolitan area, listed in order of their rank: Bank of America, Lowe’s, Nucor (steel producer), Duke Energy, Sonic Automotive, Family Dollar, SPX Corporation (industrial technology), and Domtar. www.charmeck.org LOCATION OVERVIEW LOCATION OVERVIEW
  • 12. NET LEASED INVESTMENT OFFERING www.bouldergroup.com CONTACT INFORMATION CONTACT INFORMATION 666 Dundee Road, Suite 1801 Northbrook, IL 60062 Randy Blankstein President 847.562.0003 randy@bouldergroup.com Jimmy Goodman Partner 847.562.8500 jimmy@bouldergroup.com