Asheboro, NC - Dollar General Market

Description:

• The tenant recently signed a brand new 15 year lease with 5 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation
• The newly-constructed building will feature a state-of-the-art design with high-quality materials
• As of November 1, 2024, the Company has 20,523 Dollar General, DG Market, DGX and pOpshelf stores across the United States

• The subject property is located in a dense industrial corridor, with numerous nearby national/credit tenants including Energizer, Post Consumer Brands, Wellmark, Technimark, and more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
• Furthermore, the site is in close proximity to Forest Ridge Apartments (204 units) and Summers Run Apartments (113 units), further increasing consumer traffic to the immediate trade area
• The site is located just 20 miles from High Point, NC and 23 miles from Greensboro, NC which combined has a population of around 500,000
• The asset is located at the hard corner intersection of McKnight St and N Fayetteville St with a combined 9,200 vehicles passing by daily
• The site benefits from nearby direct on/off ramp access to Interstate 73, a major thoroughfare that averages 40,000 vehicles passing by daily
• The asset has excellent visibility via significant street frontage and a large pylon sign