Sunfield, MI - Dollar General

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, newly-built, corporate guaranteed, Dollar General investment property located in Sunfield, MI (Lansing MSA). The tenant, Dolgencorp, LLC, recently signed a brand new 15-year lease with 5 (5-year) option periods to extend, demonstrating their long-term commitment to the site. The lease features 10% rental increases at the beginning of each option, growing NOI and hedging against inflation. The lease is guaranteed by the corporate entity (NYSE: DG | S&P: BBB), and is NNN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Dollar General is a nationally recognized and established discount store with over 19,000 stores in operation. The building, which is slated to open in July 2023, will feature a state-of-the-art design using the highest quality materials available.

Dollar General is strategically located along Grand Ledge Highway with clear visibility and access to an average of 6,400 vehicles passing by daily. The asset is a quick 38-minute drive into downtown Lansing, providing direct access to Michigan’s capital city. The surrounding tenants include Sabersmith Inc., Caterpillar Clubhouse, Mapes Furniture, Quality Hardwoods Inc., and others. The surrounding regional tenant presence drives a steady stream of local, loyal consumers and promotes crossover store exposure. In addition, the subject is the only variety store located within a 5-mile radius, creating a large consumer draw for the site with virtually no competition. Dollar General is near numerous single-family communities, providing a direct residential consumer base for the site. The 5-mile trade area is supported by over 3,600 residents and 723 daytime employees, with a healthy average household income of $85,193.