Dollar General,
Vineland, NJ Investment Summary
| Price | $2,389,000 |
| Cap Rate | 5.85% |
| NOI | $139,744 |
| Lease Term | 15 Years |
| Lease Type | Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot |
| Rental Increases | 10% Rental Increases Every Five (5) Years In Option Periods |
| Year Built | 2021 |
| Building Size | 9,100 SF |
| Lot Size | 2.70 Acres (117,463 SF) |
| Status | Under Contract |
| Lead Brokers | Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
NEW 15-YEAR ABSOLUTE NNN LEASE WITH CORPORATE GUARANTY TO GROWING RETAIL TENANT
» New 15-year absolute NNN lease to growing retail tenant
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» 10% rental increases every five (5) years in option periods
» No landlord management, with the tenant responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» Ideal investment opportunity for an out-of-area investor
» High-quality 2021 construction built to Dollar General’s latest prototype
MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General’s annual revenue exceeds $34.2 billion
» Dollar General Ranked #91 on Fortune 500 list in 2021 (the 21-place jump into the Top 100 reflects the company’s exceptional growth)
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General operates more than 18,130 locations in 47 states and has plans for significant future growth
CENTRAL LOCATION IN A HIGH-INCOME COMMUNITY
» High-visibility location with access to a combined 12,594 vehicles per day
» Average annual household income of $100,366 within one mile (projected 27% increase by 2027)
» 57,015 residents within a five-mile radius
» Beneficial proximity to several airports including Kroelinger Airport, Atlantic City International Airport, and Philadelphia International Airport (serves over 33 million annual passengers)
» Gateway to Philadelphia (1.6 million residents) and Atlantic City (38,466 residents)
Property Description
» Dollar General is strategically located on Northwest Boulevard near the West Weymouth Road intersection with access to 12,594 vehicles per day
» High average annual household income of$100,366 within one mile and is projected to increase 27 percent by 2027
» 57,015 residents live within a five-mile radius
» The location maintains beneficial proximity to Kroelinger Airport, Atlantic City International Airport and Philadelphia International Airport which serves over 33 million passengers each year
» The site is centrally located 36 miles from Philadelphia (Pennsylvania’s most-populous city with 1.6 million residents) and Atlantic City (38,466 residents) a popular resort city on New Jersey’s Atlantic coast known for its many casinos, wide beaches, and an iconic Boardwalk and visited by over 27 million people annually
