Assignment – Dollar General Portfolio 2019-06-06T15:05:41+00:00

2 FLORIDA LOCATIONS

DOLLAR GENERAL PORTFOLIO

  • Price  $3,515,278
  • Cap Rate 6.65%
  • 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 11.7+ years as of January 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