Dollar General

Highlights:

• ABSOLUTE NNN LEASE WITH NO LANDLORD MAINTENANCE OBLIGATIONS
• 3% INCREASE IN 2024 / 10% RENT INCREASES IN EACH 5-YEAR OPTION PERIOD
• DIRECT STREET FRONTAGE ALONG FEEDER ROAD
• CORPORATELY GUARANTEED LEASE

Description:

ABSOLUTE NNN LEASE WITH NO LANDLORD MAINTENANCE OBLIGATIONS
The subject property operates under an Absolute NNN Lease with no landlord management or maintenance responsibilities whatsoever.

3% INCREASE IN 2024 / 10% RENT INCREASES IN EACH 5-YEAR OPTION PERIOD
The lease offers an enhanced yield in the near term with a 3% rent increase in March of 2024(1). There are also 10% rent increases in each 5-year option period.

DIRECT STREET FRONTAGE ALONG FEEDER ROAD
The property has excellent access and visibility on Fostoria Road, where traffic counts exceed 4,152 vehicles per day. The north-south route provides easy access to Interstate 69 / Highway 59 (1.2 miles) and TX-105 (3 miles).

CORPORATELY GUARANTEED LEASE
The Dollar General is an investment grade rated company with a Standard & Poor’s rating of BBB. The company operated 17,266 stores in 46 states as of February 26, 2021 and has become one of the nation’s fastest growing retailers. Fortune 500 first recognized Dollar General Corporation in 1999 and it has since reached #119. It is one of America’s largest public companies with net sales reaching $33.7 billion and 31 consecutive years of same-store sales growth.

GROWING TOWN IN NORTH HOUSTON MSA
Cleveland has grown rapidly, with the population growing 30 percent since 2000 and more than 21,970 residents within a 5-mile radius. The Houston metro is expected to add 755,200 people through 2024 and roughly 21 percent of these residents are in the 20 to 34-year-old demographic segment.

NATION’S #1 DOLLAR STOREDollar General Inc. ranked #91 on Fortune 500 List in 2021, up 21 spots from its previous po-sition of #112 in 2020 (11 consecutive years of Fortune 500 ranking growth). Dollar General is an essential retailer and has proven to be one of the most profitable companies throughout the COVID pandemic reflected in a 21.6% net sales increase.

(1) Guarantor, Lease Terms, Building Specifications, and Demographics are estimates. Buyer is responsible for verifying during the Due Diligence process.

TX Broker of Record: Tim Speck
9002994

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