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Drug Store

Family Dollar (WAG Sublet) | 12.5 Years Remain | ~$4M of Contract Rent Due in Term

3513 N Market St, Wilmington, DE 19802

Listing Price: $4,761,193

Tenant Name
Family Dollar
Years Remaining On Lease
12.8
Guarantor
Corporate Guarantee
Rentable SF
11,916
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$26.77

Investment Overview

In September 2020, the Walgreens subleased the Property to Family Dollar for a 10-year term. Walgreens elected to close this location upon its acquisition of a group of Rite Aid locations in the region. The subject is 0.2 miles east of an older Rite Aid store. At the expiration of Walgreens’ term, an investor will have the opportunity to renegotiate a long term lease with Family Dollar, re-tenant the property or sell the store vacant to a user. This should allow for an advantageous resale of the property after one collects nearly all of their purchase price in base rent!

Investment Highlights

  • 12.5 Years Remain for Investment-Grade Tenant
  • Ideal Income Demographics for Sub-Tenant
  • Strong Placer.ai Ranking; Top 20 Percent of Stores in Delaware

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

  • Josh Ein

    First Vice President Investments

    (202) 536-3726

    Email Josh

    License(s): DC: SP98371724, MD: 643676, VA: 0225242141

    Washington, D.C.

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s) DE: RB-0031090

    Delaware

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Drug Store

Family Dollar (WAG Sublet) | 12.5 Years Remain | ~$4M of Contract Rent Due in Term

Listing Price: $4,761,193

Tenant Name
Family Dollar
Years Remaining On Lease
12.8
Guarantor
Corporate Guarantee
Rentable SF
11,916
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$26.77

Investment Highlights

  • 12.5 Years Remain for Investment-Grade Tenant
  • Ideal Income Demographics for Sub-Tenant
  • Strong Placer.ai Ranking; Top 20 Percent of Stores in Delaware

Investment Overview

In September 2020, the Walgreens subleased the Property to Family Dollar for a 10-year term. Walgreens elected to close this location upon its acquisition of a group of Rite Aid locations in the region. The subject is 0.2 miles east of an older Rite Aid store. At the expiration of Walgreens’ term, an investor will have the opportunity to renegotiate a long term lease with Family Dollar, re-tenant the property or sell the store vacant to a user. This should allow for an advantageous resale of the property after one collects nearly all of their purchase price in base rent!

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

  • Josh Ein

    First Vice President Investments

    (202) 536-3726

    Email Josh

    License(s): DC: SP98371724, MD: 643676, VA: 0225242141

    Washington, D.C.

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s): DE: RB-0031090

    Delaware

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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