Dollar General NNN Carver, MA $1,808,600 Highlights • Rare Massachusetts Absolute NNN • Brand New 2015 Construction • 15 Year Lease Term • Rent Increases in Year 11 and Options • Upgraded Construction Materials • S&P Investment Grade Credit (BBB-­‐) Dollar General (Absolute NNN) – Carver, MA
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.
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Dollar General (Absolute NNN) – Carver, MA
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.
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Dollar General (Absolute NNN) – Carver, MA
Property Information Overview 44 North Main Street Carver, Massachusetts 02330 • Price: $1,808,600 • CAP: 6.00% • NOI: $108,516 (Years 1-­‐10) $111,771 (Years 11-­‐15) -­‐ Rent Increase • Building Size: 9,334 +/-­‐ Square Feet • Land Area: 1.63 acres • Year Built: Scheduled Delivery June 1, 2015 • Construction Upgrades: Red Brick Skirt on Perimeter and Veneer at Towers, Pre-­‐finished Fiber-­‐cement Clapboard Siding, Gooseneck Lighting. • Lease Commencement Date: TBD • Lease End Date: TBD • Options: 3 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.
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Dollar General (Absolute NNN) – Carver, MA
Area Overview Carver, MA is a town located just 38 miles south of Boston, in Plymouth County and was named after John Carver, the first governor of Plymouth County. Carver was incorporated in 1790 and was initially known for the iron ore from its swamp lands that was used to make cooking tools in the 1730’s. A number of important agricultural industries such as lumber/timber mills, farming and iron works took root in Carver due to its numerous forest lands, lakes and bogs. As the iron ore declined in 19th century, Carver began utilizing the area’s many bogs that are scatterred throughout the town for harvesting cranberries. In 1890, a railroad line between NY and Boston was connected to Carver, putting the town on the map, as the town raised a 5th of all the cranberries grown in the US. In the 1940’s the town of Carver produced more cranberries than any town in the world. To this day, Carver’s cranberry bogs are still an important part of the towns makeup and multiple bogs and farms grow for national leader Ocean Spray. Carver has two notable tourist attractions; the Edaville Railroad, which during Christmastime is known for its festival of lights and King Richard’s Faire, which is New England’s largest Renaissance Fair. The town is ideally located just off Route 44 and has grown into a flourishing commuter suburb with the addition of the commuter rail train line in nearby Plymouth, which connects directly with Boston. 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.
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Dollar General (Absolute NNN) – Carver, MA
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 11,800 stores with more than 100,000 employees, located across 43 states. Dollar General has more retail locations than any retailer in America. 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. For the 3rd Quarter of 2014, net sales increased 7.8% and same-­‐store sales increased 2.8%. 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.
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Dollar General (Absolute NNN) – Carver, MA
Location Map Average Daily Traffic Counts US Route 44 Main Street (Route 58) 2013 Population Average Household Income Median Household Income 1 Mile 1,595 $86,098 $75,157 18,000 ADT 14,400 ADT 3 Mile 13,145 $91,985 $84,944 5 Mile 28,591 $94,537 $83,673 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.
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Dollar General (Absolute NNN) – Carver, MA
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.
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Dollar General (Absolute NNN) – Carver, MA
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.
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Dollar General (Absolute NNN) – Carver, MA
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 [email protected] [email protected] [email protected] *Broker has an ownership interest in the 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.
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