INVESTMENT OFFERINGvanguardpg.com/wp-content/uploads/2016/11/DG-Benson.pdf · The first Dollar...
Transcript of INVESTMENT OFFERINGvanguardpg.com/wp-content/uploads/2016/11/DG-Benson.pdf · The first Dollar...
INVESTMENT OFFERING
$1,276,896 | 6.25%Benson, North Carolina
Representative Photo – Not Actual Property
LOCATION: 7319 NC 50 S
Benson, NC 27504
PROPERTY: Single Tenant 9,014 SF building on 1.93 acres
LEASE STRUCTURE: 15 year absolute NNN Lease with corporate guaranty
(S&P BBB- credit)
SUMMARY: 2016 new store build to suit
• August 2016 completion date
• Hard corner at major intersection
George Venters, CCIM(919) [email protected]
All information contained herein is deemed from reliable sources but not guaranteed and must be independently verified. Terms of sale are subject to change or withdrawal without notice.
| Benson, North Carolina
INVESTMENT OVERVIEW
PROPERTY SUMMERY
ADDRESS: 7319 NC 50 S
Benson, NC 27504
Johnston County
BUILDING SIZE: 9,014 square feet
LOT SIZE: 1.93 acres
OWNERSHIP: Fee Simple
PRICE: $1,276,896
PRICE PSF: $141.66
NOI: $79,806.00
CAP RATE: 6.25%
RENT PSF: $8.85
YEAR BUILT: 2016
TRAFFIC
COUNT: 2,500 (NC 50 S)
1,700 (NC 96)
LEASE SUMMARY
LEASE GUARANTOR: Dollar General Corporation
INITIAL LEASE TERM: 15 years
RENEWAL OPTIONS: Four, 5-year options
RENT INCREASES: 10% in each option period
LEASE COMMENCMENT: October 2016
LEASE EXPIRATION: November 2031
LEASE TYPE: Absolute NNN
RENT SCHEDULE:
INITIAL TERM (1-15): $79,806.00
FIRST OPTION (16-20): $87,786.60
SECOND OPTION (21-25): $96,565.32
THIRD OPTION (26-30): $106,221.84
FOURTH OPTION (31-35): $116,844.00
All information contained herein is deemed from reliable sources but not guaranteed and must be independently verified. Terms of sale are subject to change or withdrawal without notice.
DEMOGRAPHICS (2016) | Source: ESRI
Category 3 mile 5 mile 7 mile
Population 2,107 6,238 16,065
Households 791 2,329 6,014
Average HH Income $57,729 $54,110 $51,844
All information contained herein is deemed from reliable sources but not guaranteed and must be independently verified. Terms of sale are subject to change or withdrawal without notice.
TENANT OVERVIEW
www.dollargeneral.com
NYSE: DG
Goodlettsville, Tenn.-based Dollar General Corporation is the nation's largest small-box discount retailer. Dollar General helps
shoppers Save time. Save money. Every day!(R) by offering quality private and national branded items that are frequently used and
replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, house wares and seasonal items at
everyday low prices in convenient neighborhood stores. Dollar General is among the largest retailers of top-quality products made
by America's most trusted manufacturers such as Procter & Gamble, Kimberly Clark, Unilever, Kellogg's, General Mills, Nabisco,
PepsiCo and Coca-Cola.
In 1939 Cal Turner, Jr. and his father, J.L. Turner founded J.L. Turner & Son, Inc., later changing the name of the company to Dollar
General Corporation in 1968. The first Dollar General store opened in Scottsville, KY in 1955. Today, Dollar General operates over
10,500 stores in 40 states.
In 2007 Kohlberg Kravis Roberts & Co (KKR) and other corporate investors acquired the company for $7.3 billion in a privatized
restructuring. Two years later in 2009, Dollar General once again became a public company through an IPO that was deemed the
largest retail store IPO in over 15 years, raising $716 million.
Financial Highlights
• 2015 Revenue: $20.3 billion
• 2015 Same Store Sales Growth: 2.8%
• Locations: Over 12,400 in 40 states
• 2015 Sales Per Square Foot: $226
• Standard & Poors Credit Rating: BBB- (investment grade)
• Moody’s Credit Rating: Baa3
• #164 in Fortune 500
• Industry: Discount Merchandise
| Benson, North Carolina
LOCATION MAP
All information contained herein is deemed from reliable sources but not guaranteed and must be independently verified. Terms of sale are subject to change or withdrawal without notice.
| Benson, North Carolina
VICINITY MAP
All information contained herein is deemed from reliable sources but not guaranteed and must be independently verified. Terms of sale are subject to change or withdrawal without notice.
| Benson, North Carolina
Raleigh, NCDurham, NC
Cary, NC
Benson, NC
Goldsboro, NC
Wilson, NC
Garner, NC
Clayton, NC
Newton Grove, NC
All information contained herein is deemed from reliable sources but not guaranteed and must be independently verified. Terms of sale are subject to change or withdrawal without notice.
AERIAL PHOTO
| Benson, North Carolina
Meadow School (K-12)
Restaurant
ConvenienceStore
Farm Supply/Feed
Store
ConvenienceStore
Church
All information contained herein is deemed from reliable sources but not guaranteed and must be independently verified. Terms of sale are subject to change or withdrawal without notice.
SITE PLAN
| Benson, North Carolina