McAllen, TX - Dollar General (23rd St)

Description:

• Dollar General has 5+ years remaining on their current lease with 3 (5-year) options to extend
• The lease features 10% rental increases at the beginning of each option
• The market rent in the area is $20 Sq/ft vs the property rent $10.01 Sq/ft
• The site is a Top 3% Dollar General (Placer.AI)
• The lease is corporate guaranteed by Dollar General, Corp., an investment grade (S&P: BBB), nationally recognized, and an established discount store with more than 20,345 location as of August 2024

• Dollar General is located at the signalized, hard corner intersection of Auburn Ave and N. 23rd St, which combined to average 20,600 VPD
• The site is near Trenton Crossing Shopping Center, a 451,000+ SF shopping center, anchored by Target, Kohl’s, Hobby Lobby, Marshall’s, Ross, and more
• The asset is located in a dense retail corridor, with numerous national/credit tenants including Home Depot, Starbucks, Sam’s Club, Raising Cane’s, HEB, Burger King and many more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
Furthermore, the asset is in close proximity to Morris Middle School (1,016 students), Rayburn Elementary School (492 students), and Michael E. Fossum Middle School (780 students), further increasing consumer traffic to the immediate trade area