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Dollar General

810 Caldwell Ave, Portage, PA 15946

Listing Price: $2,022,000

Cap Rate
5.00%
Tenant Name
Dollar General
Years Remaining On Lease
15.8
Gross SF
10,542
Guarantor
Corporate Guarantee
Rentable SF
10,542
Price/Gross SF
$191.80
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$9.59

Investment Overview

Marcus & Millichap is pleased to present the Dollar General located in Portage, Pennsylvania. The brand-new, 2022 build-to-suit Dollar General is perfectly positioned along Main Street in the heart Portage. This is a relocation store which shows the tenant’s strength and success in the market. The larger square footage (10,542sf) concept will better allow Dollar General to meet the needs of its growing customer base. The property benefits from excellent visibility and a five mile population of 11,920 people. The lease is a 15-year absolute NNN with the tenant anticipating opening in March of 2022 leaving no landlord responsibilities and the full 15 years of term remaining. There are three, five-year renewal options, each of which having a 10% rent increases providing a hedge against future inflation. Dollar General (NYSE: DG) is the largest small-box discount retailer in the United States with over 17,000 stores. For the 2020 fiscal year, the company report total sales exceeding $33 Billion and a net worth over $6.6 Billion. S&P has granted Dollar General an investment grade credit of ‘BBB.’ Dollar General embraces store growth as its model for expansion as they plan to open 1,050 stores in 2021. Dollar General’s site selection and operations continue to impress with the company posting 31 consecutive years of same-store sales growth.

Investment Highlights

  • Original Build-to-Suit 2022 Construction ¦Full 15 Years Remaining (Est. RCD in March 2022)
  • Absolute NNN Lease ¦ Zero Landlord Responsibilities
  • Relocation Store ¦ Demonstrates Success in Market
  • New Larger Square Footage Format (10,542sf)¦ 11,920 People within 5 Miles ¦ 5,200+ Vehicles Per Day
  • Investment Grade Credit, Rated 'BBB' by S&P
  • Dollar General has 31 Years of Same Store Sales Growth ¦ Plans to Open 1,050 Stores in 2021
  • 10% Increases in Each of the Three, Five-Year Options ¦ Excellent Hedge Against Inflation

Broker of Record

  • Sean Beuche

    Regional Manager

    (215) 531-7000

    License(s) PA: RM424190

    Pennsylvania

Discount

Dollar General

Listing Price: $2,022,000

Cap Rate
5.00%
Tenant Name
Dollar General
Years Remaining On Lease
15.8
Gross SF
10,542
Guarantor
Corporate Guarantee
Rentable SF
10,542
Price/Gross SF
$191.80
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$9.59

Investment Highlights

  • Original Build-to-Suit 2022 Construction ¦Full 15 Years Remaining (Est. RCD in March 2022)
  • Absolute NNN Lease ¦ Zero Landlord Responsibilities
  • Relocation Store ¦ Demonstrates Success in Market
  • New Larger Square Footage Format (10,542sf)¦ 11,920 People within 5 Miles ¦ 5,200+ Vehicles Per Day
  • Investment Grade Credit, Rated 'BBB' by S&P
  • Dollar General has 31 Years of Same Store Sales Growth ¦ Plans to Open 1,050 Stores in 2021
  • 10% Increases in Each of the Three, Five-Year Options ¦ Excellent Hedge Against Inflation

Investment Overview

Marcus & Millichap is pleased to present the Dollar General located in Portage, Pennsylvania. The brand-new, 2022 build-to-suit Dollar General is perfectly positioned along Main Street in the heart Portage. This is a relocation store which shows the tenant’s strength and success in the market. The larger square footage (10,542sf) concept will better allow Dollar General to meet the needs of its growing customer base. The property benefits from excellent visibility and a five mile population of 11,920 people. The lease is a 15-year absolute NNN with the tenant anticipating opening in March of 2022 leaving no landlord responsibilities and the full 15 years of term remaining. There are three, five-year renewal options, each of which having a 10% rent increases providing a hedge against future inflation. Dollar General (NYSE: DG) is the largest small-box discount retailer in the United States with over 17,000 stores. For the 2020 fiscal year, the company report total sales exceeding $33 Billion and a net worth over $6.6 Billion. S&P has granted Dollar General an investment grade credit of ‘BBB.’ Dollar General embraces store growth as its model for expansion as they plan to open 1,050 stores in 2021. Dollar General’s site selection and operations continue to impress with the company posting 31 consecutive years of same-store sales growth.

Broker of Record

  • Sean Beuche

    Regional Manager

    (215) 531-7000

    License(s): PA: RM424190

    Pennsylvania

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