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Dollar General3463 GA Hwy 196 W, Hinesville, Georgia 31313
OFFERING MEMORANDUM
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This Marketing Brochure contains select information pertaining to the business and affairs of Dollar Generallocated at 3463 GA Hwy 196 W, Hinesville, Georgia 31313 here to referred to as “Property”. Information in this Marketing Brochure is confidential and provided solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose and may not be made available to any other person without the written consent of the Seller or Matthews Retail Group, Inc.
This Marketing Brochure has been prepared by Matthews Retail Group, Inc. (also known as Matthews Retail Advisors) based in part upon information supplied by the Seller and in part upon financial information obtained from sources deemed reliable by Matthews Retail Group, Inc. However, Matthews Retail Group, Inc. has not and will not verify any of this information, nor has Matthews Retail Group, Inc. conducted any investigation regarding these matters. Matthews Retail Group, Inc. makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.
It is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for the Buyer’s thorough due diligence investigation of this investment opportunity. Matthews Retail Group, Inc. expressly denies any obligation to conduct a due diligence examination of this Property for the Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this Property. The value of a net leased property to the Buyer depends on factors that should be evaluated by the Buyer and their tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any property to determine to their satisfaction the suitability of the Property for their investment goals.
Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the Property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future performance.
Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the Property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the Property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the Property, and Buyer’s legal ability to make alternate use of the Property.
By accepting this Marketing Brochure you agree to release the Seller and Matthews Retail Group, Inc. of any and all liability and hold the parties harmless from any kind of claim, cost, or expense arising out of your investigation and/or purchase of this Property.
NON-ENDORSEMENT NOTICEMatthews Retail Group, Inc. is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this Marketing Brochure. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Matthews Retail Group, Inc., its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Matthews Retail Group, Inc., and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
CONFIDENTIALITY & DISCLAIMER STATEMENT
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PRICING AND FINANCIAL ANALYSISInvestment Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Financial Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Company Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
PROPERTY DESCRIPTIONProperty Overview. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Bird’s Eye . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7Tenant Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8Regional Map. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
DEMOGRAPHICSDemographics Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11City Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
TABLE OF CONTENTS
PRESENTED BY
Kyle MatthewsBroker of Record
License No. 363764
Josh BishopVP & Director
License No. 01940394O 310.919.5823M [email protected]
Chad KurzSVP & National Director
License No. 01911198O 310.919.5850M [email protected]
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PRICING AND FINANCIAL ANALYSIS
The Matthews Retail Advisors are pleased to exclusively offer for sale the brand new construction Dollar General property located in Hinesville, GA. Dollar General has signed a 15-year, absolute NNN lease at this location and is scheduled to open for business in July of 2016.
Hinesville is located approximately 40 miles southwest of Savannah and is the county seat of Liberty County. The city of Hinesville is home to over 33,000 residents and has an anticipated growth rate of approximately 5% over the next 5-years. Less than one mile north of Hinesville is Fort Stewart, which is known as the largest Army installation east of the Mississippi River.
Dollar General currently operates ±13,000 stores across the United States. The company has aggressive expansion plans to open 900 new stores in 2016 and 1,000 in 2017. Dollar General has been growing sales between 7 to 10 percent per year and seeing same-store sales gains of 2 to 4 percent. Dollar General’s credit rating has been raised 5 times since 2009, in October of 2015 Dollar General was raised to a Standard and Poor’s credit rating of BBB. In late 2009 the company went public and their stock price has more than tripled.
INVESTMENT HIGHLIGHTS
PROPERTY DETAILS• Brand new 2016 construction• 15-Year lease • Absolute NNN; no management responsibility• Strong corporate guarantee• 10% rent increases in options periods• 4 - 5 year renewal options• Standard 9,100 sf building• Large 1.89 acre lot
LOCATION• 3-Mile demographics of ± 35,000 residents• 5-Mile demographics of ±51,000 residents• Anticipated population growth of 5% over the next 5-years• Average household incomes of $55,000, Dollar General’s
target demographics• Located not far from Fort Stewart Military Base
TENANT• Dollar General is the only dollar store with investment
grade credit• S&P credit rating: BBB (raised from BBB- in 2015)• Dollar General currently operates ±13,000 stores across
the U.S.• Dollar General is among the largest discount retailers in
the country• Dollar General plans to open 900 new stores in 2016
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Investment Overview
EXECUTIVE SUMMARY3463 GA Hwy 196 W Hinesville, Georgia 31313List Price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,533,921Gross Leasable Area . . . . . . . . . . . . . . . . . . . . . . . . . 9,100 SFCAP Rate - Current. . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.35 %Year Built . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2016Lot Size . . . . . . . . . . . . . . . . . . . . . . . . ±1.89 Acres ( 82,328 SF)
ANNUALIZED OPERATING DATAMonthly Rent Annual Rent Increases CAP Rate
Current - 7/31/2031 $8,117.00 $97,404.00 $10.70 6.35%
Option 1 - 7/31/2036 $8,928.70 $107,144.40 $11.77 6.99%
Option 2 - 7/31/2041 $9,821.57 $117,858.84 $12.95 7.68%
Option 3 - 7/31/2046 $10,803.73 $129,644.72 $14.25 8.45%
Option 4 - 7/31/2051 $11,884.10 $142,609.20 $15.67 9.30%
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Financial Overview
TENANT SUMMARYTenant Trade Name Dollar General
Type of Ownership Fee Simple
Lease Guarantor Corporate
Lease Type NNN
Roof and Structure Tenant Responsible
Original Lease Term 15 Years
Rent Commencement Date 7/15/2016
Lease Expiration Date 7/31/2031
Term Remaining on Lease 15 Years
Increases 10 % In Every 5 Years In Options
Options Four (4), Five (5) Year Options
Property Name Dollar General
Property Type Net Leased Discount Store
Parent Company Trade Name Dollar General Corporation
Ownership Public
Credit Rating BBB
Rating Agency S&P
Revenue $20.37B
Net Income $1.17B
Stock Symbol DG
Board NYSE
No. of Locations ±12,200
No. of Employees ±105,000 (full-time)
Headquartered Goodlettsville, TN
Web Site www.dollargeneral.com
Year Founded 1939
Dollar General is a discount retailer based in the United States. The fast-growing retailer boasts roughly 12,200 discount stores in over 40 US states, mostly in the South, East, the Midwest, and the Southwest. It generates about 75% of its sales from consumables (including refrigerated, shelf-stable, and perishable foods) and another 10% from seasonal items. The stores also offer household products (cleaning supplies and health and beauty aids) and apparel. Pricing its items at $10 or less (and 25% of items at or under $1), Dollar General targets low-, middle-, and fixed-income shoppers. The no-frills stores typically measure about 7,400 sq. ft. and are located in small towns that are off the radar of giant discounters.
Source: hoovers.com
Company Overview
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™PROPERTY DESCRIPTION
THE OFFERINGProperty Name . . . . . . . . . . . . . . . . . . . . . . . . . Dollar GeneralProperty Address . . . . . . . . . . . . . . . . . . . . 3463 GA Hwy 196 W Hinesville, Georgia 31313Assessor’s Parcel Number . . . . . . . . . . . . . . . . . . . . . . 030 060Zoning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .004
SITE DESCRIPTIONNumber of Stories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OneYear Built . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2016Gross Leasable Area (GLA) . . . . . . . . . . . . . . . . . . . . . 9,100 SFLot Size . . . . . . . . . . . . . . . . . . . . . . . ±1.89 Acres ( 82,328 SF)Type of Ownership. . . . . . . . . . . . . . . . . . . . . . . . . Fee SimpleParking . . . . . . . . . . . . . . . . . . . . . . . . . . ±30 Surface SpacesParking Ratio . . . . . . . . . . . . . . . . . . . . . . . . . . 3.30 : 1,000 SFLandscaping . . . . . . . . . . . . . . . . . . . . . . . . . . . . ProfessionalTopography. . . . . . . . . . . . . . . . . . . . . . . . . . . Generally Level
CONSTRUCTIONFoundation . . . . . . . . . . . . . . . . . . . . . . . . . . . .Concrete SlabExterior . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Block / MetalParking Surface . . . . . . . . . . . . . . . . . . . . . . . . . . . . .AsphaltRoof . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Slightly Pitched
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Property Overview
PROPERTY DESCRIPTION
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Bird’s Eye
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Tenant Map
PROPERTY DESCRIPTION
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Regional Map
™DEMOGRAPHICS
Population 1-Mile 3-Mile 5-Mile
2021 Projection 5,085 36,266 53,281
2016 Estimate 4,782 34,983 51,248
2010 Census 4,469 33,758 49,018
2000 Census 3,014 29,969 48,480
Growth 2016-2021 6.33% 3.67% 3.97%
Growth 2010-2016 7.01% 3.63% 4.55%
Growth 2000-2010 48.25% 12.64% 1.11%
Households
2021 Projection 1,772 13,498 19,174
2016 Estimate 1,675 12,954 18,317
2010 Census 1,587 12,270 17,160
2000 Census 991 10,259 15,505
Growth 2016-2021 5.84% 4.20% 4.68%
Growth 2010-2016 5.50% 5.58% 6.74%
Growth 2000-2010 60.14% 19.59% 10.67%
Income
$0 - $15,000 13.46% 13.22% 13.42%
$15,000 - $24,999 12.76% 11.97% 11.68%
$25,000 - $34,999 12.74% 13.18% 13.27%
$35,000 - $49,999 18.80% 18.91% 19.04%
$50,000 - $74,999 20.54% 21.04% 20.27%
$75,000 - $99,999 11.26% 11.39% 11.79%
$100,000 - $124,999 5.32% 4.86% 4.95%
$125,000 - $149,999 2.93% 2.31% 2.41%
$150,000 - $199,999 1.36% 1.31% 1.39%
$200,000 - $249,999 0.59% 0.58% 0.56%
$250,000 - $499,999 0.20% 0.84% 0.85%
$500,000+ 0.04% 0.39% 0.35%
2016 Est. Average Household Income $52,096 $55,095 $55,266
2016 Est. Median Household Income $43,808 $44,227 $44,158
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Demographics Report
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Hinesville, GA
HINESVILLE, GAHinesville is a city in Liberty County, Georgia. The city is the county seat of Liberty County. Nearby Fort Stewart and the principal city of Hinesville are part of the Hinesville-Fort Stewart metropolitan statistical area, which comprises all of Liberty County and neighboring Long County.
LIBERTY COUNTY, GA
Home to Hinesville, one of the fastest growing cities in Southeast Georgia, Liberty County has biking, kayaking, camping, fishing, hunting, birding, geocaching, and is home to some of today’s rising musical and artistic talents. Located in Fort Stewart is the 3rd Infantry Division, the largest Army installation east of the Mississippi River. Liberty County, Georgia has rich history and is home to many attractions for of which visitors can take advantage. Explore Fort Morris State Park, the Midway Museum, or The Liberty Trail.
Liberty County is also a mecca for manufacturers and businesses, is connected to the globe by a network of interstates, rails, air and sea ports. Liberty County is a fascinating portrait of the old South and the new, of comforting tradition and of well-planned cutting-edge progress.
TOP EMPLOYERS 1. Fort Stewart
2. Liberty County Board of Education
3. SNF
4. Liberty Regional Medical Center
5. Wal-Mart Super Center
6. Target
7. Liberty County Board of Commissioners
8. Interstate Paper LLC
9. The Heritage Bank
10. City of Hinesville
841 Apollo Street, Suite 150 | El Segundo, CA 90245 | www.matthews.com™
Dollar General3463 GA Hwy 196 W, Hinesville, GA 31313
OFFERING MEMORANDUM
Josh BishopVP & Director
License No. 01940394O 310.919.5823M [email protected]
Chad KurzSVP & National Director
License No. 01911198O 310.919.5850M [email protected]
Kyle MatthewsBroker of Record
License No. 363764
