Overview

Description

10-YEAR CORPORATE LEASE (RECENT LEASE EXTENSION)
The subject property is a freestanding Family Dollar store operating under a 10-year corporate lease extension. It is currently operating at a Family Dollar and the tenant may convert the location to the latest Dollar Tree - Family Dollar combo store concept(2).

CORPORATE GUARANTY | FAMILY DOLLAR STORES, INC.
The lease is corporately guaranteed by Family Dollar Stores, Inc., which is owned by Dollar Tree Stores, Inc. (NASDAQ: DLTR, S&P “BBB”). Family Dollar Stores, Inc. was acquired by Dollar Tree, Inc. in 2015.

WELL-ESTABLISHED STORE | 4-WAY SIGNALIZED CORNER
The subject property has limited direct competition in the immediate trade area. It’s a well-established Family Dollar situated at a 4-way signalized corner across from a Speedway fuel station.

DIRECT STREET FRONTAGE ALONG NC 11 HIGHWAY
The property has direct street frontage along NC 11 Highway, which provides direct access to regional markets including Greenville, NC. There are strong traffic counts of 5,966 VPD near the subject property.

10% RENT INCREASES EVERY 5-YEARS
The lease offers landlord-friendly rent increases of 10% at each of the 4, 5-year option periods.

(1) Re-branding of store is according to communications between Seller and Tenant and Lease Agreement. Buyer is responsible for verifying during Due Diligence
(2) Guarantor, Lease Terms, Building Specifications, and Demographics are estimates. Buyer is responsible for verifying during the Due Diligence..
Sources: https://corporate.dollartree.com/news-media/press-releases/detail/120/dollar-tree-completes-acquisition-of-family-dollar, www.dollartree.com

NC Broker of Record: Ben Yelm
License: 303785

Highlights

• 10-YEAR CORPORATE LEASE (RECENT LEASE EXTENSION)
• CORPORATE GUARANTY | FAMILY DOLLAR STORES, INC.
• WELL-ESTABLISHED STORE | 4-WAY SIGNALIZED CORNER
• DIRECT STREET FRONTAGE ALONG NC 11 HIGHWAY
• 10% RENT INCREASES EVERY 5-YEARS

Documents

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