Dollar General NNN Sandston, VA – (Richmond MSA) $1,583,400 Highlights • New 2015 Construction • Absolute NNN • S&P Investment Grade Credit (BBB-­‐) • Ideal 1031 Exchange Property • 100% Fee Simple Interest Listed in conjunction with VA Licensed Broker: Read F. Goode Jr. of Divaris Real Estate Inc. | (804) 335 0554 | rgoode@divaris.com Dollar General (Absolute NNN) – Sandston, VA
Disclaimer | Confidentiality This Offering Memorandum has been prepared by District Real Estate Advisors for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the Property or any of the documents related thereto, nor does it claim to be all-­‐inclusive or to contain all the information which prospective investors may need or desire. All projections have been developed by District Real Estate Advisors and designated sources and are based upon assumptions relating to the general economy, competition and other factors beyond the control of the Seller, and are, therefore, subject to variation. No representation is made by District Real Estate Advisors as to the accuracy or completeness of the information contained herein, and nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further to this, District Real Estate Advisors and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained herein, or for omissions from the Memorandum or any other written or oral communication transmitted or made available to the recipient. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to District Real Estate Advisors. The information contained in the following offering memorandum is proprietary and strictly confidential. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the Property or Seller since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum are solely the responsibility of the prospective purchaser. District Real Estate Advisors makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, District Real Estate Advisors has not verified, and will not verify, any of the information contained herein, nor has District Real Estate Advisors conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. www.DistrictAdvisors.com This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the
accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
2
Dollar General (Absolute NNN) – Sandston, VA
Table of Contents • Property Information Overview 4 • Area Overview 5 • Tenant Overview 6 • Location Map/ Demographics 7 • Aerials 8 • Site Plan 9 • Contact 10 www.DistrictAdvisors.com This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the
accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
3
Dollar General (Absolute NNN) – Sandston, VA
Property Information Overview 202 E. Williamsburg Road (US Highway 60) Sandston, VA 23150 • Price: $1,583,400 • CAP: 6.00% • NOI: $95,002.92 • Building Size: 9,002 +/-­‐ Square Feet • Land Area: 1.58 acres • Year Built: Scheduled Delivery March 2015 • Lease Commencement Date: TBD • Lease End Date: TBD • Options: 5 x 5 year options • Option Increases: 10% rent increases in each option • Lease Type: NNN (No Landlord responsibilities) • Guaranty: Dollar General Corporation (NYSE: DG) www.DistrictAdvisors.com This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the
accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
4
Dollar General (Absolute NNN) – Sandston, VA
Area Overview Sandston, VA is a tight knit community located just outside of the state capitol of Richmond. Richmond has always been the strategic center of commerce, innovation and decision making power in Virginia. It is home to four Fortune 500/1000 companies: Dominion Power, MeadWestvaco, Universal Corporatio and NewMarket Corporation. Richmond is frequently recognized with national accolades as one of the top cities in America to do business, live and explore. Located just southeast of Richmond is Sandston, which is part of the Richmond MSA and is located in Henrico County. Henrico County is the 5th most populous county in Virginia with a population of 316,973. The Richmond MSA is the 43rd largest in the country with a population of 1,258,251. During World War I, Sandston served as a community for enlisted and non-­‐commissioned officers. RIC Annual Quick Facts The community was named after Oliver J. Sands, the • Over 90 million lbs. of cargo handled president of the Richmond and Fairfield Railway. The area continued to grow with its easy access to transportatin. • Over 105,000 landings/take-­‐offs First, with the operation of the electric street railway which • Over 3,000,000 passengers ran through Highland Springs and later the community was served by Fairfield Transit Company that operated to Seven Pines and the “Nine Mile. Road”. The area is still anchored today by its easy access to transportation having Richmond International Airport (RIC) directly adjacent to the community which has served as the gateway to Virginia’s Capital Region since 1927. The RIC is the busiest airport in central Virginia, having six commercial airlines that offer non-­‐stop flights to major domestic destination and connecting service to points around the globe and serve more than 3,000,000 passengers each year. The Richmond region is one of the fastest growing metro Richmond Top Employers areas in the country, adding nearly 400,000 1 Capital One Financial Corp. 11,309 residents in the past decade. In the Richmond MSA, 2 VCU Health System 8,491 there are over 470,000 workers in industries such 3 HCA Virginia Health System 7,051 as retail trade, manufacturing, state government, 4 Bon Secours Richmond 6,646 construction, transportation and federal Health System government. 5 Walmart 5,351 Richmond Rankings Top 10 Metro Areas for Business -­‐ Wall Street Journal Top 50 Best places for Business & Careers -­‐ Forbes.com #5 Best City for Jobs -­‐ Forbes 6 7 8 9 10 Dominion Resources Inc. SunTrust Banks Inc. Food Lion LLC Altria Group Inc. Amazon.com 5,220 4,432 3,986 3,900 3,127 www.DistrictAdvisors.com This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the
accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
5
Dollar General (Absolute NNN) – Sandston, VA
Tenant Profile Dollar General is the largest “small box” discount retailer in the United States. Headquartered in Goodlettsville, TN, the company was established in 1939. Currently, there are 11,132 stores with more than 100,000 employees, located across 40 states. The Dollar General store format has typically been in rural and suburban markets, now they are expanding into more densely populated areas. Opening over 650 stores in 2013. The Dollar General strategy is to deliver a hassle-­‐free experience to consumers, by providing a carefully edited assortment of the most popular brands in both retail and consumer products. The company launched a successful IPO in 2009 (NYSE: DG). In March, 2014 Dollar General reported records sales, operating profit and net income. Tenant Highlights • “Investment Grade” S&P Credit Rating: BBB-­‐ (outlook stable) • Full Year Sales Increased 9.2% to $17.5 Billion compared to $16.0 Billion in 2012 • Full Year Same-­‐Store Sales Increased 3.3% • Fourth Quarter Sales Increased 6.8%; Fourth Quarter Same-­‐Store Sales Increased 1.3% • #175 on Fortune 500 *Representative Photos www.DistrictAdvisors.com This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the
accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
6
Dollar General (Absolute NNN) – Sandston, VA
Location Map Average Daily Traffic Counts E. Williamsburg Road (US Highway 60) 2013 Population Average Household Income Median Household Income 1 Mile 6,464 $55,701 $50,239 13,000 ADT 3 Mile 28,979 $55,243 $47,142 5 Mile 67,020 $58,765 $49,339 www.DistrictAdvisors.com This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the
accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
7
Dollar General (Absolute NNN) – Sandston, VA
Aerials www.DistrictAdvisors.com This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the
accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
8
Dollar General (Absolute NNN) – Sandston, VA
Site Plan www.DistrictAdvisors.com This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the
accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
9
Dollar General (Absolute NNN) – Sandston, VA
District Real Estate Advisors 867 Boylston Street | Floor 5 Boston, MA 02116 Office: (857) 284 7971 Tim Bulman Christopher Mearn Andrew Bulman, Esq. (617) 448 5616 (617) 595 1544 (617) 686 5893 tbulman@districtadvisors.com cmearn@districtadvisors.com abulman@districtadvisors.com In Conjunction with: VA licensed Broker, Read F. Goode Jr. of Divaris Real Estate, Inc. rgoode@divaris.com | (804) 335 0554 www.DistrictAdvisors.com This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the
accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
10