Constructed in 2019, this 8,320-square-foot free-standing Family Dollar is secured by a 10.5-year lease set to expire in March 2030. The lease features six, 5-year renewal options, each with a 5% rental increase, ensuring long-term income growth.
Corporate Backed Long Term Lease – Family Dollar, Inc signed a new 10.5 year lease, which commenced in September 2019, leaving approximately 5.25 years remaining on the firm lease term.
Attractive Rent Increases – Lease features 5% rent increases every 5 years, providing a hedge against inflation and steady income growth.
Investment-Grade Tenant (NASDAQ: DLTR | BBB) – Leased to Family Dollar, Inc a subsidiary of Dollar Tree, with strong financial stability and a stable outlook by Standard & Poor’s.
Ranked #137 on the 2024 Fortune 500 List - In 2015, Dollar Tree acquired Family Dollar for $8.5B. Together they are considered the nation’s largest small-box discount retailer, operating over 16,000 +/- locations with annual revenue exceeding $30 billion in 2023.
Committed Tenant – Site was hand selected by Family Dollar and built-to-suit according to their specifications in 2019.
Recession Proof Concept - Dollar Tree/Family Dollar is one of the few retailers that thrived through the COVID pandemic and witnessed a sharp increase in same-store sales/profitability.