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Dollar General, Vineland, NJ

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

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