DOLLAR GENERAL,
Port Elizabeth, NJ Investment Summary
| Price | $2,145,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 Years |
| Lease Type | Absolute NNN, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot |
| Rental Increases | 10% Rental Increases in Option Periods |
| Year Built | 2019 |
| Building Size | 9,100 SF |
| Lot Size | 2 Acres (87,151 SF) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Andrew J. Schwartz Director 973.292.4624 dollargeneral.nj@cushwake.com |
Investment Highlights
15-YEAR NNN LEASE WITH CORPORATE GUARANTY
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» No landlord management
» Ideal investment opportunity for an out-of-area investor
» New 2019 upgraded construction built to Dollar General’s latest prototype
MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General’s yearly revenues exceed $27.8 billion
» Dollar General operates more than 16,350 locations in 45 states and has plans for significant future growth
HIGH-TRAFFIC LOCATION NEAR PROMINENT RECREATIONAL ATTRACTIONS
» Excellent visibility and access to 17,459 vehicles per day directly in front of the location on State Route 47, a major thoroughfare connecting Northern and Southern New Jersey
» Across the street from Maurice River Township Elementary School (418 students)
» Centralized location at the confluence of New Jersey Motorsports Park (500,000+ annual visitors), Belleplain State Forest (410,000+ annual visitors), Natural Lands’ Glades Wildlife Refuge, and Delaware Bay (second busiest U.S. waterway)
» Gateway to Atlantic City (27 million annual visitors, $2.86 billion generated in annual gaming revenue)
Property Description
SOLD
The property is conveniently located on New Jersey State Route 47, with excellent visibility and access to 17,459 vehicles per day directly in front of the location. Visibility is increased by the site’s location along a major North-South thoroughfare, as Route 47 connects the Northern and Southern tips of New Jersey. The property is across the street from Maurice River Township Elementary School (418 students) and surrounded by a strong mixture of local businesses and residential amenities. The site is centrally located at the confluence of New Jersey Motorsports Park (500,000+ annual visitors), Belleplain State Forest (410,000+ annual visitors), Natural Lands’ Glades Wildlife Refuge, and Delaware Bay, which is the second busiest U.S. waterway. The location also serves as a gateway to Atlantic City, which experiences 27 million annual visitors and generated $2.86 billion in gaming revenue in 2018.
