dollar general - matthews · and kitchen, bed, and bath soft goods. n addition, the company offers...

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R E T A I L A D V I S O R SOffering MeMOranduM

dOllar general 1508 n JeffersOn st, albany, ga 31701

representative phOtO

Matthews retail advisors

CO n f i d e n t i a l i t y & d i s C l a i M e r s tat e M e n t

this O ffer ing Memorandum contains se lec t information per ta ining to the business and af fa i rs of dollar general located at 1508 n Jefferson st, albany, ga 31701 (“proper t y ”) . i t has been prepared by Matthews retai l advisors . this O ffer ing Memorandum may not be a l l - inc lus ive or contain a l l of the information a prospec t ive purchaser may desi re. the information contained in this O ffer ing Memorandum is conf ident ia l and furnished sole ly for the purpose of a review by a prospec t ive purchaser of the proper t y. i t i s not to be used for any other purpose or made avai lable to any other person without the wr i t ten consent of s el ler or Matthews retai l advisors . the mater ia l i s based in par t upon information suppl ied by the s el ler and in par t upon f inancia l information obtained f rom sources i t deems re l iable. O wner, nor their of f icers, employees, or agents makes any representat ion or warrant y, express or impl ied, as to the accurac y or completeness of th is O ffer ing Memorandum or any of i ts contents and no legal l iabi l i t y i s assumed or shal l be impl ied with respec t thereto. prospec t ive purchasers should make their own projec t ions and form their own conclus ions without re l iance upon the mater ia l contained herein and conduc t their own due di l igence.

by ack nowledging your receipt of th is O ffer ing Memorandum for the proper t y, you agree:

1 . the O ffer ing Memorandum and i ts contents are conf ident ia l ;

2 . you wi l l hold i t and treat i t in the str ic test of conf idence; and

3. you wi l l not , d i rec t ly or indirec t ly, d isc lose or permit anyone else to disc lose this O ffer ing Memorandum or i ts contents in any fashion or manner detr imental to the interest of the s el ler.

O wner and Matthews retai l advisors express ly reser ve the r ight , at their sole discret ion, to re jec t any and a l l express ions of interest or of fers to purchase the proper t y and to terminate discuss ions with any person or ent i t y reviewing this O ffer ing Memorandum or mak ing an of fer to purchase the proper t y unless and unt i l a wr i t ten agreement for the purchase and sale of the proper t y has been ful ly executed and del ivered.

i f you wish not to pursue negot iat ions leading to the acquis i t ion of the proper t y or in the future you discont inue such negot iat ions, then you agree to purge a l l mater ia ls re lat ing to this proper t y including this O ffer ing Memorandum.

a prospec t ive purchaser ’s sole and exclus ive r ights with respec t to this prospec t ive t ransac t ion, the proper t y, or information provided herein or in connec t ion with the sa le of the proper t y shal l be l imited to those express ly provided in an executed purchase agreement and shal l be subjec t to the terms thereof. i n no event shal l a prospec t ive purchaser have any other c la ims against s el ler or Matthews retai l advisors or any of their af f i l iates or any of their respec t ive of f icers, direc tors, shareholders, owners, employees, or agents for any damages, l iabi l i t y, or causes of ac t ion re lat ing to this sol ic i tat ion process or the market ing or sa le of the proper t y.

this O ffer ing Memorandum shal l not be deemed to represent the state of af fa i rs of the proper t y or const i tute an indicat ion that there has been no change in the state of af fa i rs of the proper t y s ince the date this O ffer ing Memorandum.

eXClusively l isted by:

table of ContentspriCing & finanCial analysis

investment Overview ...............................................................................2investments highlights ...........................................................................2executive summary ..................................................................................3Company Overview .................................................................................4

prOperty desCriptiOn physical description .................................................................................7bird’s eye .......................................................................................................8regional Map ..............................................................................................9tenant Map ............................................................................................... 10

deMOgraphiCs City Overview | albany ........................................................................ 12demographics report ........................................................................... 13

Josh bishop senior associate direCt +1.310.919.5823 MObile +1.315.730.6228 [email protected] license no. 01940394

Kyle Matthewsbroker of record license no. 01469842

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Chad KurzManaging partner direCt +1.310.919.5850 MObile +1.310.480.2937 [email protected] license no. 01911198

Matthews retail advisors representative phOtO

pricing & financial analysis

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OFFERING MEMORANDUM | Dollar Generalp. 2 Matthews retail advisors

PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS


the Matthews retail advisors are pleased to exclusively offer for sale the brand new construction dollar general located in albany, ga. the subject property benefits from its strong location on Jefferston street, with approximately 40,000 residents in a 3-mile radius.

dollar general has signed an initial 15-year, corporate guaranteed, absolute nnn lease, which is expected to commence in february of 2016.

dollar general continues to perform exceptionally well, improving their average store sales and increasing profitability year-over-year. further, dollar general is the only dollar store which has investment grade credit.

investment Overview

investments highlights• extremely strong location

• brand new 2016 Construction (february 2016 rent Commencement)

• 15-year absolute nnn lease

• strong Corporate guarantee

• Over 39,800 residents Within a 3-Mile radius

• Over 82,500 residents Within a 5-Mile radius

• four (4) - five (5) year Options With 10% rent increases

• dollar general is the Only dollar store With investment grade Credit

rep phOtO

Matthews retail advisors p. 3Dollar General | OFFERING MEMORANDUM



executive summary

dOllar general1508 n JeffersOn st albany, ga 31701

list price ......................................................................................................... $1,323,150Cap rate - Current ...............................................................................................6.35%gross leasable area ....................................................................................... 9,100 sflot size ................................................................................ 0.975 acres (42,471 sf)year built .................................................................................................................... 2016

annualized Operating dataMonthly rent annual rent rent/sf

Current - 1/31/2031 $7,001.67 $84,020.04 $9.23

Option 1 - 1/31/2036 $7,701.84 $92,422.04 $10.16

Option 2 - 1/31/2041 $8,472.02 $101,664.25 $11.17

Option 3 - 1/31/2046 $9,319.22 $111,830.67 $12.29

Option 4 - 1/31/2051 $10,251.15 $123,013.74 $13.52

tenant summary

tenant trade name dollar general Corporation

type of Ownership fee simple

lease guarantor Corporate

lease type nnn

roof and structure tenant responsible

Original lease term 15 years

rent Commencement date 2/1/2016

lease expiration date 1/31/2031

term remaining on lease 15 years

increases 10% in Options

Options (four) 4 - (five) 5 year Options




Company Overview

dollar general Corporation, a discount retailer, engages in the provision of various merchandise products in the united states. the company offers various consumable products, including paper and cleaning products, packaged food, comprising cereals, canned soups and vegetables, condiments, spices, sugar, and flour; perishables consisting of milk, eggs, bread, frozen meals, beer, and wine; snacks that include candies, cookies, crackers, salty snacks, and carbonated beverages; over-the-counter medicines and personal care products; and pet supplies and pet food products. it also provides seasonal products, including decorations, toys, batteries, small electronics, greeting cards, stationery, prepaid phones and accessories, gardening supplies, hardware, automotive, and home office supplies; and home products comprising kitchen supplies, cookware, small appliances, light bulbs, storage containers, frames, candles, craft supplies and kitchen, bed, and bath soft goods. in addition, the company offers casual everyday apparel for infants, toddlers, girls, boys, women, and men, as well as socks, underwear, disposable diapers, shoes, and accessories. as of January 31, 2014, it operated 11,132 stores in 40 states. the company was formerly known as J.l. turner & son, inc. and changed its name to dollar general Corporation in 1968. dollar general Corporation was founded in 1939 and is based in goodlettsville, tennessee.

property name dollar general portfolio

property type net leased discount store

parent Company trade name dollar general

Ownership public

Credit rating bbb-

rating agency standard & poor’s

revenue $18.91 billion

net income $1.07 billion

stock symbol dg

board nyse

no. of locations +12,000

no. of employees ±105,500

headquartered goodlettsville, tn

Web site www.dollargeneral.com

year founded 1939

property description

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Matthews retail advisors representative phOtO



physical description

the Offering

property name ........................................................................................... dollar general

property address ..............................................................................1508 n Jefferson st

albany, ga 31701

site desCriptiOn

number of stories ..........................................................................................................One

year built .......................................................................................................................... 2016

gross leasable area (gla) .................................................................................. 9,100 sf

lot size ........................................................................................ 0.975 acres (42,471 sf)

type of Ownership ........................................................................................... fee simple

parking ................................................................................................ ±30 surface spaces

parking ratio ................................................................................................3.30 : 1,000 sf

landscaping .....................................................................................................professional

topography ............................................................................................... generally level

COnstruCtiOn

foundation ................................................................................................... Concrete slab

exterior ............................................................................................................... block/Metal

parking surface ........................................................................................................asphalt

representative phOtO



bird’s eye



regional Map



tenant Map

simply stuff

north Campus

demographics

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PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS

City Overview | albany

located in southwest georgia, albany is the principal city of the albany, georgia metropolitan area. the population was 77,434 at the 2010 u.s. Census, making it the eighth-largest city in georgia.

today, although the city is surrounded by pecan groves, pine trees, farms and plantations, almost none of the population is employed in agriculture. it is heavily mechanized. the city itself however is surrounded by a river which separates the two divisions of albany. health care, education and the Marine Corps logistics base albany are the largest employers. Manufacturing, transportation, and retail trade are also important foundations of albany’s economy and the city acts as a hub for commerce in southwest georgia.

When it comes to attractions, albany is riding high, thanks to a private-public partnership dedicated to redeveloping downtown by playing up the area’s premier natural resource-the flint river.

the albany downtown riverfront Master plan was designed to pack the center of the community with diverse activities and destinations that will be an irresistible draw to residents and visitors alike. the centerpiece of the plan is the flint river Center, a hybrid educational facility that is part aquarium, part children’s museum, part natural history museum, part botanical garden and part science museum. designed by internationally known architect antoine predock.

Other projects include parks, a hotel and conference center, a retail and entertainment district and a system of nature trails that will link the parks at Chehaw, thronateeska heritage Center, the albany Civil rights Movement Museum at Old Mt. Zion Church, albany state university and radium springs.



demographics reportpopulation 3-Mile 5-Mile 10-Mile2020 projection 39,116 81,843 115,1552015 estimate 39,799 82,545 115,2092010 Census 41,179 84,548 116,9352000 Census 42,577 84,799 113,825growth 2015-2020 -3.28% -0.30% 2.73%growth 2010-2015 -3.35% -2.37% -1.48%growth 2000-2010 -1.72% -0.85% -0.05%

households2020 projection 15,771 32,440 44,5882015 estimate 15,818 32,341 44,2482010 Census 16,027 32,520 44,3022000 Census 15,867 31,444 41,543growth 2015-2020 -0.30% 0.30% 0.77%growth 2010-2015 -1.31% -0.55% -0.12%

income$0 - $15,000 31.92% 27.80% 23.56%$15,000 - $24,999 16.39% 14.74% 13.34%$25,000 - $34,999 13.57% 13.17% 12.54%$35,000 - $49,999 12.92% 12.60% 12.51%$50,000 - $74,999 12.87% 14.54% 15.57%$75,000 - $99,999 5.22% 7.48% 8.98%$100,000 - $124,999 2.38% 3.51% 4.80%$125,000 - $149,999 1.31% 2.13% 3.23%$150,000 - $199,999 1.38% 1.89% 2.66%$200,000 - $249,999 0.62% 0.75% 1.05%$250,000 - $499,999 0.89% 0.98% 1.29%$500,000+ 0.52% 0.42% 0.47%

2015 est. average household income $41,476 $46,967 $54,428

2015 est. Median household income $26,244 $30,669 $35,662

Matthews retail advisors | 841 apollo street, suite 150 | el segundo, Ca 90245 | www.Matthews.com

dOllar general1508 n Jefferson stalbany, ga 31701Offering MeMOranduM

Kyle Matthewsbroker of record license no. 01469842

Josh bishop senior associate direCt +1.310.919.5823 MObile +1.315.730.6228 [email protected] license no. 01940394

™

Chad KurzManaging partner direCt +1.310.919.5850 MObile +1.310.480.2937 [email protected] license no. 01911198

dollar general - matthews · and kitchen, bed, and bath soft goods. n addition, the company offers...

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