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

Post on 05-Dec-2014

106 views 0 download

description

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

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

NET LEASED INVESTMENT OFFERING

www.bouldergroup.com

Dollar General Plus1333 East Main Street

Rock Hill, SC 29730 (Charlotte MSA)

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

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

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

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

NET LEASED INVESTMENT OFFERING

www.bouldergroup.com

AERIAL

AERIAL

N

BELLEVUE ELEMENTARY SCHOOL

23,000 VPD

1 MILE77

MAIN STREET

NET LEASED INVESTMENT OFFERING

www.bouldergroup.com

SITE PLAN

SITE PLAN

E MAIN STREET

N

NET LEASED INVESTMENT OFFERING

www.bouldergroup.com

MAPS

MAPS

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

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

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

NET LEASED INVESTMENT OFFERING

www.bouldergroup.com

CONTACT INFORMATION

CONTACT INFORMATION

666DundeeRoad,Suite1801Northbrook,IL60062

Randy BlanksteinPresident847.562.0003randy@bouldergroup.com

Jimmy GoodmanPartner847.562.8500jimmy@bouldergroup.com