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Dollar General | Rent Increases in Initial Term | Lansing MSA

1160 W Lansing Rd, Morrice, MI 48857

Listing Price: $2,243,000

Cap Rate
6.65%
Tenant Name
Dollar General
Years Remaining On Lease
15.0
Guarantor
Corporate Guarantee
Rentable SF
12,480
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$11.95

Investment Overview

NEW 15 YR NNN “NEXT GEN” DG LEASE WITH 5% BUMPS IN INITIAL LEASE & OPTIONS
• This property features Dollar General’s “next gen” Lease with 5% rent increases every 5 years in the new 15-year corporate guaranteed NNN lease with Dollar General.
• Tenant is 100% responsible for all expenses including taxes, insurance, CAM, roof, and structure.
• There are 5% rent increases in each of the five, 5-year option periods.

NEW UPGRADED CONSTRUCTION DOLLAR GENERAL MARKET
• The subject property is a 12,480 SF upgraded construction Dollar General Market.
• DG Market is a combo store with fresh produce, milk, meats and other groceries added to Dollar General’s usual mix of low-price general merchandise.
• Rent is scheduled to commence in March 2024

INTERSTATE LOCATION (27,834 VPD)
• This Dollar General is located directly off Interstate 69 (27,834 VPD) on W Lansing Rd (5,509 VPD)

LANSING MSA | CAPITAL OF MICHIGAN
• This Dollar General is located 25 minutes northeast of downtown Lansing and is a part of the MSA
• Lansing is the capital of Michigan and has a population of 114,296, the fifth largest in the State
• Michigan State University is in Lansing and has the largest land campus in the U.S. with an
• enrollment of nearly 50,000 students.
• The Lansing metropolitan area’s major industries are government, education, insurance, healthcare, and automobile manufacturing
• The Lansing area is headquarters to four major national insurance companies: Auto-Owners Insurance Company, Jackson National Life, the Accident Fund, and Michigan Millers Insurance Company
• General Motors has offices and a hi-tech manufacturing facility in Lansing and several manufacturing facilities immediately outside the city

INVESTMENT GRADE TENANT
• Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Currently over 20,380 locations and expanding by 1,050 stores each year.
• Dollar General has been in business for 83 years and has a current net worth of over $54.4 billion

Investment Highlights

  • 5% Rent Increases In Initial Term
  • New 12,480 SF Upgraded DG Market
  • Lansing MSA Capital Of MI
  • Store Opens March 2024
  • Interstate Location
  • 15 Year NNN Lease

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Financing By

Discount

Dollar General | Rent Increases in Initial Term | Lansing MSA

Listing Price: $2,243,000

Cap Rate
6.65%
Tenant Name
Dollar General
Years Remaining On Lease
15.0
Guarantor
Corporate Guarantee
Rentable SF
12,480
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$11.95

Investment Highlights

  • 5% Rent Increases In Initial Term
  • New 12,480 SF Upgraded DG Market
  • Lansing MSA Capital Of MI
  • Store Opens March 2024
  • Interstate Location
  • 15 Year NNN Lease

Investment Overview

NEW 15 YR NNN “NEXT GEN” DG LEASE WITH 5% BUMPS IN INITIAL LEASE & OPTIONS • This property features Dollar General’s “next gen” Lease with 5% rent increases every 5 years in the new 15-year corporate guaranteed NNN lease with Dollar General. • Tenant is 100% responsible for all expenses including taxes, insurance, CAM, roof, and structure. • There are 5% rent increases in each of the five, 5-year option periods. NEW UPGRADED CONSTRUCTION DOLLAR GENERAL MARKET • The subject property is a 12,480 SF upgraded construction Dollar General Market. • DG Market is a combo store with fresh produce, milk, meats and other groceries added to Dollar General’s usual mix of low-price general merchandise. • Rent is scheduled to commence in March 2024 INTERSTATE LOCATION (27,834 VPD) • This Dollar General is located directly off Interstate 69 (27,834 VPD) on W Lansing Rd (5,509 VPD) LANSING MSA | CAPITAL OF MICHIGAN • This Dollar General is located 25 minutes northeast of downtown Lansing and is a part of the MSA • Lansing is the capital of Michigan and has a population of 114,296, the fifth largest in the State • Michigan State University is in Lansing and has the largest land campus in the U.S. with an • enrollment of nearly 50,000 students. • The Lansing metropolitan area’s major industries are government, education, insurance, healthcare, and automobile manufacturing • The Lansing area is headquarters to four major national insurance companies: Auto-Owners Insurance Company, Jackson National Life, the Accident Fund, and Michigan Millers Insurance Company • General Motors has offices and a hi-tech manufacturing facility in Lansing and several manufacturing facilities immediately outside the city INVESTMENT GRADE TENANT • Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB. • Currently over 20,380 locations and expanding by 1,050 stores each year. • Dollar General has been in business for 83 years and has a current net worth of over $54.4 billion

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

Financing By

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