Overview

Description

Dollar Tree has a Brand new 10-year NN* lease with $0.50 PSF rental escalations every 5 years in renewal options. The Tenant, Dollar Tree Stores, Inc. (NASDAQ: DLTR | S&P Credit Rating: BBB | Moody’s Rating: Baa2 | a Fortune 500 Company) operated 16,340 stores (16,096 in the U.S. & 244 in Canada) under the Dollar Tree, Dollar Tree Canada & Family Dollar brand names as of January 28, 2023. It is a Brand new, build-to-suit construction to Dollar Tree’s latest prototype (10,000 SF) - slated to open March 1, 2024 (est.)
The Asset is Positioned on a ±0.939-acre lot in a growing area of Northwest Oklahoma City MSA with excellent drive-by visibility/access on Piedmont Rd where traffic counts exceed 10,120 CPD! Dollar General, Sonic Drive-In & Subway are less than 1/2 a mile north of the Property - the closest retailers such Walmart, Sam’s Club, Home Depot, Kohl’s, Target, Hobby Lobby, T.J. Maxx, Ross, PetSmart, Joann Fabrics, Five Below & ALDI are 10 miles from the Property. It is 17 miles from University of Central Oklahoma Edmond - a public university in Edmond - the 3rd largest university in Oklahoma, offers numerous undergraduate & graduate programs with a total of 12,148 students (Fall 2023); 20 miles from Oklahoma City University OKC - a private university offering a variety of undergraduate bachelor’s degrees, graduate master’s degrees & doctoral degrees, organized into 8 colleges & 1 Methodist seminary with over 2,300 students; 13 miles from Mercy Hospital OKC - a general medical & surgical hospital with 385 licensed beds, 2,995 hospital-based co-workers & 245 physicians.

Highlights

• Brand new 10-year NN* lease with $0.50 PSF rental escalations every 5 years in renewal options.
• Dollar Tree Stores, Inc. (NASDAQ: DLTR | S&P Credit Rating: BBB | Moody’s Rating: Baa2 | a Fortune 500 Company) operated 16,340 stores (16,096 in the U.S. & 244 in Canada) under the Dollar Tree, Dollar Tree Canada & Family Dollar brand names as of January 28, 2023
• Brand new, build-to-suit construction to Dollar Tree’s latest prototype (10,000 SF) - slated to open March 1, 2024 (est.)
• Positioned on a ±0.939-acre lot in a growing area of Northwest Oklahoma City MSA with excellent drive-by visibility/access on Piedmont Rd where traffic counts exceed 10,120 CPD!
• 2023 DEMOGRAPHICS: Total Population (5-MI): 147,925 | Average Household Income (1-MI): $110,259

Documents

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