NEW RELOCATION DOLLAR GENERAL WITH LOWER RENT & PRICE POINT
• This Dollar General is a relocation and expansion of an existing store in Lockport which shows Dollar Generals commitment and confidence in the Market.
• The subject property has a low rent which equates to a low price point of $1.7M. This price point is lower than most newer construction Dollar Generals.
15 YEAR CORPORATE NNN LEASE WITH INCREASES IN INITIAL TERM AND OPTIONS
• This property features a 15-year corporate-guaranteed NNN lease with Dollar General, with 5% rent increases every five years.
• The store opened and rent commenced in August 2023. There are 13.5 years remaining on the 15 Year NNN Lease.
• The tenant is 100% responsible for all expenses, including parking lot maintenance, taxes, insurance, roof, and structure.
• There are 5% rent increases in each of the five, 5-year option periods.
LOCATED ON CONNECTOR HIGHWAY TO THE LARGEST EMPLOYER IN COASTAL LOUISIANA
• This Dollar General is positioned on Highway 1 (10,587 VPD), the primary highway connecting Lockport and New Orleans to Port Fourchon.
• Port Fourchon services over 90% of the Gulf of Mexico’s deepwater oil production and supports over 250 companies and 10,804 employees statewide.
• Every month, over 24,000+ commercial trucks pass this Dollar General on Highway 1 delivering equipment and supplies to the port.
• This port contributes $3.4 billion to Louisiana’s economy, including $2.8 billion in sales and $657 million in household earnings.
• Port Fourchon handles over 270 vessels daily and generates $4.5 billion in revenue for the U.S. Treasury.
• The average 5 mile income which is $91,061 and this superior to most than most Dollar General locations
NEAR NEW ORLEANS | LARGEST CITY IN LA
• The subject property is located 50 miles away from downtown New Orleans.
• New Orleans is the largest MSA in Louisiana, with a population of approximately 1.2 million residents.
• The city is known for its tourism, port operations, energy sector, and a growing technology & healthcare industry.
• Headquarters of major companies such as Entergy, Smoothie King, Tidewater Inc., and Pan-American Life Insurance Group are located in New Orleans.
• Over ten universities and colleges are in New Orleans, educating approximately 50,000 students.
• Top employers include Ochsner Health System, Tulane University, the City of New Orleans, and LCMC Health.
• The Port of New Orleans is one of the largest ports in the U.S., supporting international trade and logistics with a significant economic impact on the region.
INVESTMENT-GRADE TENANT (S&P: BBB) WITH 21,000 LOCATIONS
• Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment-grade credit rating of BBB.
• Currently, there are over 21,000 locations, with plans to open 575 new stores in 2025.
• Dollar General has been in business for 80 years and has a current net worth of over $18.16 billion.