ail lla EXCLUSIVE LISTING | Willimantic, CT · the main local east-west roads in the Willimantic-Windham area. Currently the ... household cleaners to name brand foods, from health

Family Dollar | Willimantic, CTOffering Memorandum

PATRICK NUTT MANAGING PARTNER

(954) 302-7365 [email protected]

ANDREW FALLONEXECUTIVE MANAGING DIRECTOR


Actual Site

EXCLUSIVE LISTINGOffering Memorandum

BROKER OF RECORD

STANLEY B. [email protected]

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C A L K A I N .C O MC A L K A I N .C O M

Family Dollar | Willimantic, CT


165 Main St | Willimantic, CT 06226

Asking Price $2,095,000 | Cap Rate 6.15%

Net Operating Income (NOI) $128,896

Rent/Month $10,741.33

Rent/SF $15.49

Rentable Square Feet 8,320+/- SF

Tenant Name Family Dollar

Website www.familydollar.com

Credit Rating S&P: BB+

Stock Symbol NYSE: DLTR

Guarantor Corporate

Ownership Type Fee Simple

Lease Type NNN

Landlord Responsibilities None

Store Opened February 9, 2017

Lease Term Remaining 15+ Years

Rent Commencement February 9, 2017

Lease Expiration September 30, 2032

Increases 10% in Year 11

Options Six (6), Five (5) Year

Rent Schedule

Term Increases Annual Rent Monthly RentYears 1-10 - $128,896 $10,741.33

Years 11-15 10% $141,786 $11,815.47

Years 16-20 (Option 1) 10% $155,964 $12,997.01

Years 21-25 (Option 2) 10% $171,561 $14,296.71

Years 26-30 (Option 3) 10% $188,717 $15,726.39

Years 31-35 (Option 4) 10% $207,588 $17,299.02

Years 36-40 (Option 5) 10% $228,347 $19,028.93

Years 41-45 (Option 6) 10% $251,182 $20,931.82

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Financial Summary


Lease - 15+ years remaining on an absolute NNN lease with 10% rent increases

in the primary lease term, commencing October 1, 2027.

Location - Main street location in university town. Main Street (Route 66) is

the main local east-west roads in the Willimantic-Windham area. Currently the

retail trade in the immediate vicinity is limited to gas stations with convenience

stores, auto parts shops and other small retail. The location has excellent visibility

and access for local residents to shop at, as well as people passing on Main Street.

This location is the closest and most convenient location to a number of apartment

projects including the Windham Heights Apartments which are 350 units of

Section 8 housing, Ivy Gardens with 100 units and others.

Construction – New construction, store opened in February of 2017.

Upgraded front and side facade with additional windows and awnings to enhance

store appearance off Main Street.

Competition - Limited discount competition within the immediate trade

area. Currently the majority of the retail trade in Willimantic is on the west

side of the market. Included there is a Dollar Tree and an existing Family Dollar,

store#3559. That Family Dollar is a relocation candidate due to a small facility and

limited width, still the store performs well ($1.2M) given its restrictions. There is

a Wal-Mart located about two and one quarter miles to the east. It is in a highway

location and farther away from the immediate population that this store will serve.

There are no national chain pharmacies in this immediate trade area. The nearest

Dollar General store is more than eight miles away in Mansfield, CT.

Demographics - The population counts exceed 27,500 within a 3 mile

radius.

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Investment Highlights


Dollar Tree Completes Acquisition of Family Dollar• Creates combined organization with sales exceeding $19 billion annually with

more than 13,600 stores across 48 states and five Canadian provinces

CHESAPEAKE, VA – July 6, 2015 – Dollar Tree, Inc. (NASDAQ: DLTR), North America’s leading operator of discount variety stores selling everything for $1 or less, announced today that it has completed the acquisition of Family Dollar Stores, Inc., a leading national discount retailer offering name brands and quality, private brand merchandise.

About Family DollarOne of the nation’s fastest growing retailers, Family Dollar offers a compelling assortment of merchandise for the whole family ranging from household cleaners to name brand foods, from health and beauty aids to toys, from apparel for every age to home fashions, all for everyday low prices. While shoppers can find many items at $1 or less, most items in the store are priced below $10, which makes shopping fun without stretching the family budget.

About Dollar TreeDollar Tree, Inc. is an American chain of discount variety stores that sells items for $1 or less. A Fortune 500 company, Dollar Tree is headquartered in Chesapeake, Virginia, and operates 13,600 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics network of ten distribution centers. The company operates one-dollar stores under the names of Dollar Tree and Dollar Bills. The company also operates a multi-price-point variety chain under the name Deals.

Dollar Tree competes in the dollar store and low-end retail markets. Each Dollar Tree stocks a variety of products including national, regional, and private-label brands. Departments found in a Dollar Tree store include health and beauty, food and snacks, party, seasonal décor, housewares, glassware, dinnerware, household cleaning supplies, candy, toys, gifts, gift bags and wrap, stationery, craft supplies, teaching supplies, automotive, electronics, pet supplies, and books. Most Dollar Tree stores also sell frozen foods and dairy items such as milk, eggs, pizza, ice cream, frozen dinners, and pre-made baked goods.

Tenant Snapshot# Locations

13,600+

Stock Symbol

NYSE: DLTR

Credit Rating

S&P: BB+

Market Cap

22.44B

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Tenant Overview

New York, NY

Boston, MA

Willimantic, CT

Manchester, CTHartford, CTProvidence, RI


Distance To:

Manchester, CT 20 miles

Hartford, CT 30 miles

Providence, RI 47 miles

Boston, MA 91 miles

New York, NY 142 miles

Location Overview

395

95

84

Subject Site

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165 Main St | Willimantic, CT


Main St 13,100 VPD

Windham Recreation ParkNatchaug

Elementary School

Windham High School

Main StreetHistoric District

Colonial TownhouseApartments

Windham Heights 350 Apartments

BriarwoodApartments

Subject Site

Bridge Street Plaza Shopping

Center

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Site Plan

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Radius 1 Mile 3 Miles 5 MilesPopulation2016 Population 11,706 27,500 36,634

2021 Population 11,734 27,670 36,797

2010-2016 Annual Rate 0.25% 0.40% 0.29%

2016-2021 Annual Rate 0.05% 0.14% 0.09%

2016 Male Population 49.7% 48.7% 49.0%

2016 Female Population 50.3% 51.3% 51.0%

2016 Median Age 31.6 31.6 34.5

Households2016 Total Households 4,381 9,721 13,155

2021 Total Households 4,385 9,784 13,209

2010-2016 Annual Rate 0.15% 0.32% 0.23%

2016-2021 Annual Rate 0.02% 0.13% 0.08%

2016 Average Household Size 2.57 2.51 2.55

Median Household Income2016 Median Household Income $38,317 $42,547 $50,356

2021 Median Household Income $38,442 $41,307 $47,453

2016-2021 Annual Rate 0.07% -0.59% -1.18%

Average Household Income2016 Average Household Income $55,064 $58,788 $67,630

2021 Average Household Income $57,215 $61,086 $71,017

2016-2021 Annual Rate 0.77% 0.77% 0.98%

Per Capita Income2016 Per Capita Income $21,508 $23,623 $26,636

2021 Per Capita Income $22,250 $24,407 $27,846

2016-2021 Annual Rate 0.68% 0.66% 0.89%

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Demographics


Willimantic, CTWillimantic is a census-designated place and former city located in the town of Windham in Windham County, Connecticut. The population was at 17,737 at the 2010 census. It is home to Eastern Connecticut State University, as well as the Windham Textile and History Museum. The city was incorporated in 1893 as a section of the town of Windham. The city government was dissolved in 1983 with the area reverting back to the town. It is also the birthplace of U.S Senator Christopher Dodd of Connecticut.

Willimantic is an Algonquian term for “land of the swift running water”. Prior to 1821, the village was known as Willimantic Falls, home to about twenty families and a single school district. In 1822, Charles Lee erected a factory on Main Street made of stone quarried from the Willimantic River. Although small shops and manufacturers had been built on the banks of the Willimantic before, this was the beginning of industrialized Willimantic. In 1825, the three Jillson brothers built a factory along the Willimantic, and in 1827, they built a second building. By 1828, there were six cotton factories in Willimantic, all built within a seven year span. Willimantic became known

as “Thread City” because American Thread Company had a mill on the banks of the Willimantic River, and was at one time the largest employer in the state as well as one of the largest producers of thread in the world. Its factory was the first in the world to use electric lighting. In 1833, Willimantic was a borough of Windham; in 1893, it would become a city.

From the end of the Civil War to the outbreak of World War II, Willimantic was a center for the production of silk and cotton thread. Immigrants from Europe arrived to work in the mills -- Irish, Italians, Polish, Germans and French Canadians. Later, Estonian, Ukraine, Latvian, Lithuanian, and Puerto Rican immigrants moved to the town in search of mill jobs.

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Market Overview


PATRICK NUTT MANAGING PARTNER


ANDREW FALLONEXECUTIVE MANAGING DIRECTOR


Who Are We? We are a national commercial real estate firm that provides consulting and brokerage services to both private and institutional clientele with an expertise on triple net lease investments. We pride ourselves on being a world class leader by providing our clients a full array of commercial real estate investment brokerage and asset management solutions, including advisory, research, estate planning and wealth management.

We have built solid relationships throughout our decades of experience and innovation, implementing long-term allocation within the context of each client’s particular risk tolerance and identifying how best to acquire and dispose of income producing properties for each entities’ specific set of investment criterion. At Calkain, our foresight and past performance are leading the net lease investment industry.

Our HistoryLike most success stories, Calkain was formulated from humble beginnings. Jonathan W. Hipp, President and CEO, took the initiative to build upon his decades of experience and performance and left a large international brokerage firm to become an independent and innovative leader within the triple net lease investment community. Armed with a sole employee and a single office, the firm has grown exponentially since its infancy in 2005.

With the growth in staff, seasoned professionals have been attracted to Calkain’s model of innovation, entrepreneurship and the fostering of long-lasting and meaningful relationships. Industry experts have joined Calkain in the hopes of implementing the skills they have honed in complementary aspects of real estate investment.

Through a tremendous endeavor, tireless hours have been committed to continually prove that Calkain is America’s Net Lease Company®. Its countless accolades received from the world’s leading business publications, including Forbes™, Fortune™ and the New York Times™ have confirmed that Calkain is a true leader in triple net lease investing services.

Client Testimonial

“USRA has worked with Calkain on numerous occasions. They have always been meticulous in their work ethic, providing superior service and extremely prompt attention to our needs. I highly recommend them.

- Jack Genende, Partner | U.S. Realty Advisors, LLC. (USRA)

$11.5 Billion in Closed Transactions

$350 Million

in Active Listings

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C A L K A I N .C O MC A L K A I N .C O M

About Calkain

DISCLAIMER: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regula-tions, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

Corporate Headquarters Washington, DC12930 Worldgate Drive | Suite 150 Herndon, VA 20170 T: (703) 787-4714 • F: (703) 787-4783

Tampa400 N. Tampa Street | Suite 2660 Tampa, FL 33602 T: (813) 282-6000 • F: (813) 282-6098

South Florida300 S. Pine Island Road | Suite 300 Fort Lauderdale, FL 33324 T: (954) 302-7365

Atlanta111 Village Parkway, Building 2 | Suite 202 Marietta, GA 30067 T: (404) 900-5629

Boston101 Federal Street | Suite 1900 Boston, MA 02110 T: (617) 261-8584

CALKAIN.COM

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ail lla EXCLUSIVE LISTING | Willimantic, CT · the main local east-west roads in the Willimantic-Windham area. Currently the ... household cleaners to name brand foods, from health