Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the Dollar Tree located at 1201 S Pioneer Way in Moses Lake, Washington. The property consists of a 12,100-square foot building on a 0.93-acre lot. Dollar Tree is prominently located on Pioneer Way, which is part of the main arterial system through the city and has an average daily traffic count of 15,265 near the store's location. Dollar Tree occupies the single-tenant building under a modified triple-net (NNN) lease which entered its fourth 5-year renewal option period effective March 1, 2023. There are approximately four years remaining on the current lease term, which expires February 29, 2028, and the tenant has two, 5-year renewal options remaining. In addition to the monthly rental payment, Dollar Tree pays recurring utility bills and casualty/liability insurance policies directly and reimburses the Landlord for paid real estate taxes. The lease requires the Landlord to carry an additional liability insurance policy and also makes the Landlord responsible for the repair and maintenance of the foundation, floor slab, roof, and building structure. The Landlord is also responsible for providing and maintaining utility services to the building. Dollar Tree is responsible for all other repairs and maintenance. Dollar Tree is a publicly traded company (NASDAQ: DLTR) and Fortune 500 company with annual revenue exceeding $30 billion. Moses Lake is located in central Washington state along Interstate-90, which connects the state's two largest cities, Seattle and Spokane. Moses Lake has a population of 25,888 (U.S. Census Bureau, 2022 estimate) and is the largest city in Grant County. Historically an agricultural economic hub, Moses Lake and the surrounding area has experienced exceptional growth in the manufacturing and technology sectors thanks to an abundant supply of hydropower. In the past year, Alameda, CA-based Sila Nanotechnologies and Woodinville, WA-based Group14 Technologies have announced plans to invest hundreds of millions of dollars to construct and build out their manufacturing facilities in Moses Lake. Both companies plan large-scale production of next-generation battery materials to improve upon and accelerate the production of the batteries used in electric vehicles, consumer electronics, and other electrified industries.