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Dollar General | Absolute NNN | Davenport, Iowa MSA

1111 Coyne Center Rd, Milan, IL 61264

Listing Price: $1,715,000

Cap Rate
5.38%
Tenant Name
Dollar General Corporation
Years Remaining On Lease
8.8
Guarantor
Corporate Guarantee
Rentable SF
9,002
Lease Type
Absolute Net
Rent Per Square Feet
$10.25

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a Dollar General Absolute NNN property located in the Quad-cities region of Illinois-Iowa, in Milan IL. Built in 2016, this location has 9+ years left of its original 15-year term, as well as five five-year renewal options with 10% rent increases with each option. This acquisition is ideal for an investor looking to add a property with an investment grade tenant (NYSE: DG) to their portfolio.   The village of Milan is in the Quad-city region of Illinois-Iowa along the rock river, about 4 miles away from the Mississippi river. The quad cities region of Illinois-Iowa has an MSA population of almost 400,000 and sits about 140 miles west of Chicago. The region is home to several major employers such as: John Deere, which houses its North American Parts Distribution center in Milan, Hy-vee, and Amazon, with the latter opening their distribution center in the spring of 2022.   Dollar General (NYSE: DG) is one of the largest discount retailers in the US with more than 17,000 stores in 46 states and growing. Dollar General’s market capitalization is more than $50 billion and the company has an investment-grade corporate credit rating through the major rating agencies.

Investment Highlights

  • Long-Term Lease with 9+ Years Remaining on Firm Term of Lease
  • Absolute Triple-Net Lease with Zero Landlord Responsibilities; Tenant is Responsible for Roof & Structure
  • Investment-Grade Corporate Guarantee Tenant (NYSE: DG) . Dollar General is an Essential and Recession-Proof Business
  • Five, Five-Year Renewal Options with 10% Rental Escalators at Each Option Renewal

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Discount

Dollar General | Absolute NNN | Davenport, Iowa MSA

Listing Price: $1,715,000

Cap Rate
5.38%
Tenant Name
Dollar General Corporation
Years Remaining On Lease
8.8
Guarantor
Corporate Guarantee
Rentable SF
9,002
Lease Type
Absolute Net
Rent Per Square Feet
$10.25

Investment Highlights

  • Long-Term Lease with 9+ Years Remaining on Firm Term of Lease
  • Absolute Triple-Net Lease with Zero Landlord Responsibilities; Tenant is Responsible for Roof & Structure
  • Investment-Grade Corporate Guarantee Tenant (NYSE: DG) . Dollar General is an Essential and Recession-Proof Business
  • Five, Five-Year Renewal Options with 10% Rental Escalators at Each Option Renewal

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a Dollar General Absolute NNN property located in the Quad-cities region of Illinois-Iowa, in Milan IL. Built in 2016, this location has 9+ years left of its original 15-year term, as well as five five-year renewal options with 10% rent increases with each option. This acquisition is ideal for an investor looking to add a property with an investment grade tenant (NYSE: DG) to their portfolio.   The village of Milan is in the Quad-city region of Illinois-Iowa along the rock river, about 4 miles away from the Mississippi river. The quad cities region of Illinois-Iowa has an MSA population of almost 400,000 and sits about 140 miles west of Chicago. The region is home to several major employers such as: John Deere, which houses its North American Parts Distribution center in Milan, Hy-vee, and Amazon, with the latter opening their distribution center in the spring of 2022.   Dollar General (NYSE: DG) is one of the largest discount retailers in the US with more than 17,000 stores in 46 states and growing. Dollar General’s market capitalization is more than $50 billion and the company has an investment-grade corporate credit rating through the major rating agencies.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

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