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Dollar General - Park Avenue57 E Michael Gladden BLVD, Apopka FL 32703
O F F E R I N G M E M O R A N D U M
Dollar General - Park AvenueCONTENTS
Exclusively Marketed by:
Brian CapoManaging Partner(407) 404-1846License # FL [email protected]
We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct yourown investigation of the property and transaction.
01 Executive Summary Investment Summary 4 Location Summary 5
02 Property Description Property Features 6 Aerial Map 7 Property Images 8
03 Rent Roll Rent Roll Details 15 Lease Expiration 16 Tenant Profile 17
04 Demographics Demographics 18 Demographic Charts 19
Dollar General - Park Avenue Confidentiality and Disclaimer | 03
CONFIDENTIALITY AND DISCLAIMER:
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from FL Retail Advisors and it should not be made available to any other person or entity without the written consent of FL Retail Advisors.
By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to FL Retail Advisors. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property.
The information contained herein is not a substitute for a thorough due diligence investigation. FL Retail Advisors has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.
The information contained in this offering memorandum has been obtained from sources we believe reliable; however, FL Retail Advisors has not verified, and will not verify, any of the information contained herein, nor has FL Retail Advisors conducted any investigation regarding these matters and makes 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONTACT FL RETAIL ADVISORS FOR MORE DETAILS.Copyright © 2019 , LLC. All Rights Reserved.
Dollar General - Park Avenue Investment Summary | 04
OFFERING SUMMARYADDRESS 57 E Michael Gladden BLVD
Apopka FL 32703COUNTY OrangeMARKET OrlandoBUILDING SF 7,545 SFLAND SF 42,456 SFYEAR BUILT 2019OWNERSHIP TYPE Fee Simple
FINANCIAL SUMMARYOFFERING PRICE $2,152,000PRICE PSF $285.22OCCUPANCY 100 %NOI (CURRENT) $125,886CAP RATE (CURRENT) 5.85 %
DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2018 Population 7,926 60,400 135,2942018 Median HH Income $33,680 $54,790 $58,6822018 Average HH Income $47,177 $71,158 $79,373
Brand New 2019 Construction | Build-to-Suit Design
15± Years Remaining on Primary Lease Term
Corporately Guaranteed 'NNN' Lease with Credit Tenant (S&P: BBB)
Located Within an Opportunity Zone
NNN LEASE INVESTMENT GRADE CORPORATE GUARANTEE
FL Retail Advisors is pleased to offer the fee simple interest in a brand new Build-to-Suit freestanding Dollar General store that operates under an Absolute 'NNN' lease with approximately 15± years remaining on the term and with three (3) successive five-year option periods to extend.
Dollar General Corporation(1), the Guarantor under the Lease, carries an Investment Grade Rating of "BBB" from Standard & Poor's. Dollar General Corporation's net sales increased 9.0% to $6.1 billion in the first quarter of 2018 compared to $5.6 billion in the first quarter of 2017. Dollar General has become one of the fastest growing retailers in the United States with 15,000 locations nationwide across 44 states.
The building was originally designed and developed on a build-to-suit basis for Dollar General with concrete block construction, stucco exterior walls, quality construction.
As of 8/3/2018 Dollar General operates 15,015± stores across 44 states. Dollar General opened 510 new stores in the first half of 2018 and plans to increase that number to 900 by year end and employs more than 130,000 people through its 15,000± retail stores and 15 distribution centers.
Dollar General Corporation is ranked #123 for the Fortune 500 in 2017.
Dollar General - Park Avenue Location Summary | 05
Dollar General - Park Avenue Property Features | 06
PROPERTY FEATURESNUMBER OF TENANTS 1BUILDING SF 7,545LAND SF 42,456LAND ACRES 0.97YEAR BUILT 2019# OF PARCELS 1ZONING TYPE Commercial | C-1BUILDING CLASS ATOPOGRAPHY FlatNUMBER OF STORIES 1NUMBER OF BUILDINGS 1STREET FRONTAGE S Park AvenueTRAFFIC COUNTS 9900
TENANT INFORMATIONMAJOR TENANT/S Dollar GeneralLEASE TYPE NNN
Dollar General - Park Avenue Aerial Map | 07
Dollar General - Park Avenue Property Images | 08
Birds Eye
Dollar General - Park Avenue Property Images | 09
Preliminary Site Plan
Dollar General - Park Avenue Property Images | 10
Elevations
Dollar General - Park Avenue Property Images | 11
Dollar General - Park Avenue Property Images | 12
Dollar General - Park Avenue Property Images | 13
Dollar General - Park Avenue Property Images | 14
Dollar General - Park Avenue Rent Roll Details | 15
Lease Term Rental RatesSuite Tenant Name Square
Feet% of NRA Lease Start Lease End Begin Date Monthly
Base RentMonthlyPSF
Annual BaseRent
AnnualPSF
Lease Type Options/Notes
1 Dollar General 7,545 100.00% 05/01/17 06/30/34 CURRENT $10,491 $1.39 $125,886 $16.68 NNN
06/01/2034 $11,540 $1.53 $138,475 $18.36
06/01/2039 $12,694 $1.68 $152,323 $20.16
06/01/2044 $13,963 $1.85 $167,555 $22.20
Totals 7,545 $10,491 $125,886
Dollar General - Park Avenue Lease Expiration | 16
Dollar General - Park Avenue Tenant Profile | 17
Name ValueTrade Name Dollar GeneralHeadquartered Goodletsville, TNWebsite www.dollargeneral.com# of Locations 15,000
DescriptionDollar General stands for convenience, quality brands and low prices. Dollar General’s successful prototype makes shopping a truly hassle-free experience. We design small neighborhood stores with carefully edited merchandise assortments to make shopping simpler. We don’t carry every brand and size, just those our customers want the most.
Dollar General saves you time by staying focused on life’s simple necessities: laundry detergent, toilet paper, soap, shampoo, socks and underwear…and maybe a gadget or two that you just can’t live without.
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Discount Retailer Aims for Sites Near More Than By John Ballard | September 04, 2019
What happenedShares of Dollar General (NYSE:DG) gained 16.5% last month, according to data provided by S&P Global Market Intelligence. The stock surged following a stellar second-quarter earnings report, with revenue and earnings beating analysts’ expectations.
So whatFor the second quarter, net sales increased by 8.4% year over year, driven by strong comp sales growth of 4%. Most impressive was the strength on the bottom line, with adjusted earnings per share up by 14.5%. Speaking to what drove the strong results, CEO Todd Vasos said, “Our results this quarter were fueled by solid execution across many fronts, including category management, merchandise innovation, store operations, and continued progress with our strategic initiatives.”
With the trade war escalating in the last month between the U.S. and China, investors seem to be flocking to those retailers that could be resilient to tariff hikes while avoiding those stores that could be vulnerable. Dollar General has more
than 15,000 stores across the country, all delivering value on everyday essentials that customers will still be buying no matter what the broader economy is doing.
Now whatBased on the strong performance in the first half of the year, management raised its full-year outlook. The company now expects sales growth of about 8%, up from the previous expectation of 7%. Same-store sales are expected in the low-single-digit range of about 3%, compared to the previous outlook of 2.5%. This should leave adjusted earnings per share up 8% over 2018, at the low end of guidance.
The company is continuing to invest in certain projects to drive sales growth and margins higher over the long term. These initiatives include shifting to self-distribution of perishable goods to stores, in addition to the integration of digital technology to enhance the in-store experience.
Dollar General has delivered impressive gains for investors this year, up 45% year to date. The stock trades at a forward P/E ratio of 21 times next year’s earnings estimate. With this company’s management team focused on profitable growth and cost discipline, investors looking for a defensive consumer goods stock should consider Dollar General.
Article sourced from motleyfool.com
WHY DOLLAR GENERAL STOCK JUMPED 16% IN AUGUSTInvestors loved the company’s execution and performance during the second quarter.
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6/21/2019 Dollar General and FedEx think rural with new program
https://www.chainstoreage.com/technology/dollar-general-and-fedex-think-rural-with-new-program/ 3/4
TECHNOLOGY
Dollar General and FedEx think rural with newprogramBY DAN BERTHIAUME June 17, 2019
Starting this summer, Dollar General shoppers will be able to pick up and drop off FedEx packages at their localstore.
Dollar General is partnering with FedEx Corp. to offer drop-off and pickup services for FedEx packages atthousands of Dollar General stores. The companies plan to begin rolling out the service in more than 1,500 DollarGeneral stores in late summer 2019, building to a total of more than 8,000 stores by the end of 2020.
As part of the FedEx OnSite program, customers will be able to drop off pre-packaged and pre-labeled FedExExpress or FedEx ground shipments at Dollar General stores and pick up packages sent to their local DollarGeneral.
The effort is particularly aimed at consumers living in rural communities. By leveraging its rural store footprint,Dollar General says that more than 90% of Americans will ultimately live within five miles of a FedEx hold retaillocation as a result of the partnership.
“Dollar General is excited to work with FedEx to offer customers a secure, convenient pickup and drop-offlocation,” said Jason Reiser, executive VP and chief merchandising officer, Dollar General. “We look forward toproviding customers with expanded services and accessibility throughout our rural footprint and working withFedEx as we begin the rollout later this year.”
Other major retailers participating in FedEx Onsite include Walgreens. Kohl’s success with a drop-off/pickupprogram it launched with Amazon in fall 2017 suggests turning stores into online delivery hubs can boost traffic
6/21/2019 Dollar General and FedEx think rural with new program
https://www.chainstoreage.com/technology/dollar-general-and-fedex-think-rural-with-new-program/ 4/4
© 2019 Chain Store Age. All Rights Reserved.
and sales.
Kohl’s enables customers to make free returns of Amazon packages in 82 select brick-and-mortar stores inChicago and Los Angeles. Kohl’s has since expanded this program to stores in Milwaukee.
According to Earnest Research analysis of how this program has performed in Chicago, where almost all Kohl’sstores accept Amazon returns, by summer 2018 between 7% and 8% of brick-and-mortar shoppers werereturning Amazon items in-store. In Q1 2018, revenue growth at Kohl’s stores in Chicago topped 10%, comparedto 5% revenue growth at the rest of the retailer’s U.S. stores. In addition, Earnest data shows that sales,transactions, and customer growth at Kohl’s stores in Chicago during 2018 all outpace the same metrics at Kohl’sstores nationwide in the same time period.
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Dollar General - Park Avenue Demographics | 18
POPULATION 1 MILE 3 MILE 5 MILE
2000 Population 7,169 42,842 96,376
2010 Population 6,991 50,920 117,524
2018 Population 7,926 60,400 135,294
2023 Population 8,731 66,357 147,114
2018 African American 4,472 16,616 34,323
2018 American Indian 35 289 552
2018 Asian 42 1,465 4,937
2018 Hispanic 2,087 18,696 34,911
2018 White 2,420 33,591 79,692
2018 Other Race 750 6,240 10,841
2018 Multiracial 207 2,151 4,842
2018-2023: Population: Growth Rate 9.75 % 9.50 % 8.45 %
2018 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE
less than $15,000 529 2,277 4,296
$15,000-$24,999 387 2,091 3,988
$25,000-$34,999 392 2,057 4,396
$35,000-$49,999 320 2,651 6,305
$50,000-$74,999 437 4,512 9,586
$75,000-$99,999 249 2,795 6,334
$100,000-$149,999 153 2,572 6,711
$150,000-$199,999 57 967 2,711
$200,000 or greater 13 674 2,204
Median HH Income $33,680 $54,790 $58,682
Average HH Income $47,177 $71,158 $79,373
HOUSEHOLDS 1 MILE 3 MILE 5 MILE
2000 Total Housing 2,535 15,917 35,821
2010 Total Households 2,288 17,675 41,144
2018 Total Households 2,538 20,596 46,533
2023 Total Households 2,776 22,502 50,278
2018 Average Household Size 3.10 2.92 2.90
2000 Owner Occupied Housing 1,264 11,322 26,640
2000 Renter Occupied Housing 1,039 3,630 7,423
2018 Owner Occupied Housing 1,258 14,459 34,351
2018 Renter Occupied Housing 1,280 6,138 12,182
2018 Vacant Housing 339 1,400 3,092
2018 Total Housing 2,877 21,996 49,625
2023 Owner Occupied Housing 1,437 16,232 37,955
2023 Renter Occupied Housing 1,339 6,270 12,323
2023 Vacant Housing 365 1,453 3,138
2023 Total Housing 3,141 23,955 53,416
2018-2023: Households: Growth Rate 9.05 % 8.95 % 7.80 %
Source: esri
Dollar General - Park Avenue Demographic Charts | 19
1 Mile Radius 3 Mile Radius 5 Mile Radius
2018 Household Income
1 Mile Radius 3 Mile Radius 5 Mile Radius
2018 Population by Race
Dollar General - Park Avenue Demographic Charts | 20
2018 Household Occupancy - 1 Mile Radius
Average Income Median Income
2018 Household Income Average and Median
Dollar General - Park Avenue
Exclusively Marketed by:
Brian CapoManaging Partner(407) 404-1846License # FL [email protected]
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