Assignment – Dollar General Portfolio 2019-08-14T15:29:48+00:00

2 FLORIDA LOCATIONS

DOLLAR GENERAL PORTFOLIO

  • Price  $3,387,913
  • Cap Rate 6.90%
  • NOI $233,766
  • Total Square Feet 18,004
  • Year Built  2015
  • # of Locations: 2
  • Lease Structure NNN
OFFERING MEMORANDUM

INVESTMENT SUMMARY

The Chetek Group of Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a two-unit portfolio of single tenant absolute net leased Dollar General properties totaling 18,004-square feet (the “Portfolio”) strategically located throughout Florida. The Portfolio features two 2015 construction Dollar General locations comprised of the retailer’s latest and most efficient 9,002-square foot prototype store. Each location is identical in building area with slightly staggered initial term lease expirations in the second half of 2030. The average term remaining is 11.1 years as of August 2019.

INVESTMENT HIGHLIGHTS

Two-unit portfolio of single tenant absolute net leased Dollar General properties totaling 18,004-square feet (the “Portfolio”) strategically located throughout Florida.

The leases are all structured absolute triple-net and include four, five-year renewal options providing an additional 20 years of option term – rent increases 10% in each five-year option period.

The Portfolio features three 2015 construction Dollar General locations comprised of the retailer’s latest and most efficient 9,002-square foot prototype store.

Each location is identical in building area with slightly staggered initial term lease expirations in the second half of 2030. The average term remaining is 11.7+ years as of January 2019.

The leases are all corporately guaranteed by Dolgencorp, LLC, a publicly traded company (NYSE: “DG”) with an investment grade S&P rating of “BBB”.

The subject properties are strategically located throughout Florida in under-served, high-growth submarkets which were identified and carefully vetted as significant areas of opportunity for the retailer to achieve long term success.

OFFERING MEMORANDUM