THE OFFERING provides an opportunity to acquire an absolute NNN Dollar General in Penn Valley, California. The 15-year lease features a Corporate Guaranty, and includes three 5-year options, with rental increases at the start of each option period. This new construction build-to-suit asset has zero landlord maintenance or expense obligations. The property has excellent visibility and curbside appeal along Penn Valley Drive, the “main street” of Penn Valley. The property is located next door to the town’s post office and is surrounded by the majority of the town’s commercial establishments. Penn Valley is located 60 miles northeast of Sacramento, the state capital of California.
DOLLAR GENERAL generated $23.5 billion in sales in fiscal 2017 and in excess of $1.54 billion in net income. Dollar General currently operates over 15,000 stores in 44 states, making it the country’s largest small-box discount retailer. The company has an S&P rating of BBB, which has been raised five times since 2009, and is a better credit rating than its main competitors. Dollar General’s stock is up 45% over the past 24 months.