The Boulder Group is pleased to exclusively market for sale a single tenant Rite Aid property located in the Atlanta MSA fully leased to Rite Aid. Rite Aid is no longer operating at this location and the property is currently being sublet to Dollar General. The property benefits from its location along Athens Highway, a heavily trafficked roadway, and the Kroger grocery store across the street. Dollar General has been successfully operating at this location since 2010. Store sales for Dollar General have increased by 18.5% from 2011 to 2013.
The property is located at the signalized intersection of Athens Highway and Rosebud Road. This intersection benefits from traffic counts in excess of 50,000 vehicles per day creating steady traffic flow near the property. The property has two points of ingress and egress, one along Athens Highway and the other on Rosebud Road. The property is located across the street from a Kroger anchored shopping center. There are over 112,000 people living within five miles of the property earning household incomes of approximately $80,000. The property is positioned between Atlanta and Athens along US Highway 78 approximately 25 and 35 miles from each respective city’s downtown.
Rite Aid’s original lease term was for 20 years and the lease expires in October 2016. Rite Aid is a publicly traded company on the New York Stock Exchange (RAD), with a market capitalization of $4.5 Billion. Rite Aid has over 4,600 locations and employs 55,000 people. Dollar General’s sublease term is for 6 years and the sublease expires in October 2016. Dollar General is a publicly traded company on the New York Stock Exchange (DG), with a market capitalization of $19 Billion.