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Dollar General, Hartstown, PA

Dollar General, Hartstown, PA


Investment Summary

Price $1,283,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, and Maintenance
Rental Increases 10% Rental Increases in Option Periods
Year Built 2019
Building Size 1.99 Acres (86,684 SF)
Lot Size 1.99 Acres (86,684 SF)
Status Available
Lead Brokers 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

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

Investment Highlights

15-YEAR ABSOLUTE 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 making this asset an ideal investment opportunity for an outof- area investor
» New 2019 construction

MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General’s annual revenue exceeds $27.8 billion
» Ranked #119 on Fortune 500 list (11 consecutive years of Fortune 500 ranking growth)
» Dollar General operates more than 16,350 locations in 45 states and has plans for significant future growth

EASILY ACCESSIBLE LOCATION IN POPULOUS AND GROWING AREA
» Located along State Route 18, a primary thoroughfare traversing Hartstown
» 21-foot pylon sign facing State Route 18, increasing traffic to the site
» 73,971 residents within a 15-mile radius of the property
» Projected 12 percent AHI increase within 10 miles of the site in the next five years, poising Hartstown for significant growth

CENTRAL LOCATION NEAR MULTIPLE TOURIST ATTRACTIONS AND COMMUNITY HUBS
» Central location between several Pennsylvania tourist attractions and community hubs, including Pymatuning State Park, The Spillway, and Conneaut Lake Amusement Park (75,000 visitors, $9.6 million generated in regional economic impact)
» Located at the confluence of several State Game Lands hunting grounds, attracting impactful amounts of outdoor recreationists (outdoor recreation generates $29.1 billion in Pennsylvania consumer spending)
» Gateway to Lake Erie ($40.6 million annual economic impact in Pennsylvania, 11 million annual visitors)
» 10 miles from the Pennsylvania/Ohio border, increasing regional commuter traffic to the location

Property Description

SOLD

The property has an easily accessible location along State Route 18/Main Street, a primary thoroughfare traversing the entirety of Hartstown. The site benefits from its central location in a populous area, with 73,971 residents living within a 15-mile radius of the location. The property is primed to grow along with the surrounding area, with a projected 12 percent average annual household income increase within 10 miles of the site in the next five years. Traffic to the site is also increased by the 21-foot pylon sign facing State Route 18.

The property has a central location between several Pennsylvania tourist attractions and community hubs, including Pymatuning State Park, The Spillway, and Conneaut Lake Amusement Park (75,000 visitors, $9.6 million generated in regional economic impact). The property is located at the confluence of several State
Game Lands hunting grounds, attracting impactful amounts of outdoor recreationists. Outdoor recreation generates $29.1 billion in Pennsylvania consumer spending. Traffic to the site is increased by its proximity to the Pennsylvania/Ohio border, and the site also experiences increased traffic from its location as a gateway to Lake Erie, ($40.6 million annual economic impact in Pennsylvania, 11 million annual visitors).

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