The Boulder Group is pleased to exclusively market for
sale a single tenant net leased Dollar General Plus property located within the
Charlotte MSA. The 12,480 square foot building is a relocation of a previously
successful traditional-sized Dollar General store. Due to the success of the
previous location, Dollar General elected to build one of their larger format Dollar
General Plus stores. Dollar General Plus are larger than traditional Dollar
General stores and have more coolers/freezers to keep more perishable items in
stock. The Dollar General Plus lease has over 13 years remaining and features a
rental escalation in year eleven and 10% rental escalations in each renewal
option. Dollar General is an investment grade rated tenant (S&P: BBB-).
The 3.84 acre Dollar General Plus
parcel is located along Main Street approximately one mile from access to
Interstate 77. Main Street is a primary thoroughfare that experiences traffic
counts in excess of 23,000 vehicles per day. The Dollar General Plus is located
approximately 25 miles south of downtown Charlotte. The property is benefitted
from its location adjacent to a Bi-Lo anchored development and across the
street from a Food Lion. There are over 80,000 people living within a five mile
radius of the property earning average household incomes of approximately
$55,000.
Dollar General Plus has over 13 years remaining on their
absolute net lease that expires in October 2027. The
lease features a rental escalation in the eleventh lease year and 10% rental
escalations in each of the six 5-year renewal options. Dollar General is an
investment grade company (S&P: BBB-) and is publicly traded (NYSE: DG) with
a market capitalization in excess of $17 billion.
http://bouldergroup.com/NNN-Properties-For-Sale.html
