Overview

Description

Fortis Net Lease is pleased to present this brand new 10,566 SF. pOpshelf store located in Broken Arrow, Oklahoma - part of the Tulsa market (Broken Arrow is one of the fastest growing municipalities in the state). pOpshelf is Dollar General's newest retail store concept aimed at engaging customers with a fun, affordable and stress-free shopping experience. The property offers a 15 Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains Four (5 year) options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has completed construction & successfully opened for business in October 2023!

This pOpshelf is highly visible as it is strategically positioned off of the Creek Turnpike Exit (seeing 23,848 cars per day), on E 121st Street, which sees 12,031 cars per day, adjacent to a Starbucks/Great Clips outlot, and in front of the Regal Warren Broken Arrow movie theatre (which sees 325K visitors annually). It is part of The Shops at Aspen Creek (a 150 acre regional mixed use development). It sits 0.5 miles from a Walmart anchored shopping center (which sees 1.3M annually). The five mile population from the site is 101,281 while the one mile average household income is $96,886 per year, making this location ideal for a pOpshelf store. This area is experiencing steady growth with the three mile population growth rate at 4.21%. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a pOpshelf store. List price reflects a 6.40% cap rate based on the NOI of $188,559.96.

Highlights

• New 15 year Absolute NNN lease | Zero landlord responsibilities
• Dollar General's newest retail concept | Now Open
• Part of the Tulsa Market | Broken arrow is one of the fastest growing municipality in the state
• Adjacent to Starbucks & Regal Movie Theatre (325K annual visitors) | Part of the shops at Aspen Creek Development (150 acres mixed-use center)
• 1/2 mile from shopping center anchored by Walmart (1.3 million annual visitors)
• Four (5 year) options | 10% increases at each option
• One mile household income $96,886
• Five mile population 101,281 | Expected 3.95% growth
• Three mil population growth rate 4.21%
• 23,848 ADTC on Creek Turnpike | 12,031 ADTC on E 121st Street
• Dollar General corporate guaranty with "BBB" credit rating
• 5 mile consumer spending $1.4 billion!

Documents

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