exclusive brokers - loopnet · 2019-01-24 · bank, westfield bank, wendy’s, friendly’s, united...

Trevor McNiven 617.504.8083 [email protected] MA License #9531975 | Andrew Callahan 617.894.4499 [email protected] MA License #9531962 374 Congress Street, Suite 305, Boston, MA 02210 | www.vrpartners.com

OFFERING MEMORANDOM

627 SOUTHAMPTON ROAD | WESTFIELD, MA

EXCLUSIVE BROKERS

actual location

CAP RATE6.25%

PURCHASE PRICE$1,836,278.40

OFFERING MEMORANDUM | DOLLAR GENERAL | WESTFIELD, MA

New Construction Build to Suit Dollar General in Westfield, MA

PROPERTY ADDRESS

PURCHASE PRICE

NOI

CAP RATE

TENANT

PARCEL SIZE

BUILDING SIZE

PARKING SPACES

YEAR BUILT

OWNERSHIP TYPE

LEASE TYPE

LEASE TERM

LEASE GUARANTY

ROOF & STRUCTURE

OPTIONS

INCREASES

RENT COMMENCMENT

LEASE EXPIRATION

627 Southampton Road, Westfield, MA

$1,836,278.40

$114,767.40

6.25%

Dollar General

1.18 Acres

7,489 SF

30

2018

Fee Simple

Absolute NNN Lease

15 Years

Corporate

Tenant

4 Five Year Options

10% in each Option

July, 2018

July 31st, 2033

INVESTMENT SUMMARY & LEASE OVERVIEW

AVERAGEHOUSEHOLD

INCOME

2 Mile $86,0993 Mile $83,2765 Mile $89,4287 Mile $76,042

POPULATION

2 Mile 7,6753 Mile 20,9485 Mile 61,787

7 Mile 165,352

ESTIMATED HOUSEHOLDS

2 Mile 3,0543 Mile 8,2795 Mile 23,7417 Mile 65,792

DEMOGRAPHICS

The Tenant is 100% responsible for all expenses, including Taxes, Insurance, CAM, Roof, HVAC, and Structure.

PROPERTY OVERVIEWVenture Retail Partners is pleased to offer for sale the fee simple interest in this new construction freestanding Dollar General in Westfield, Massachusetts. Dollar General opened for business in July 2018 and features an upgraded façade (see below building elevations). The property is strategically located on MA State Route 10 at the intersection of Egleston Road, only 1.15 miles north of Exit 3 of Interstate 90 (Massachusetts Turnpike). Route 10 has a traffic count of 14,900 cars per day and is the main north/south thoroughfare in the City of Westfield. The surrounding trade area includes strong traffic generators and retailers including Dunkin Donuts, Berkshire Bank, Westfield Bank, Wendy’s, Friendly’s, United Bank, Mobil, Holiday Inn, Quality Inn, Westfield-Barnes Regional Airport, Westfield High School & Middle School, Baystate Noble Hospital, Westfield State University (5,000+ students), and large distribution centers for Lowe’s, Home Depot, C&S Wholesale, among many others.

LOCATION OVERVIEWThe City of Westfield is located in Hampden County in Western Massachusetts and has a population of over 41,000 people. Westfield is a vibrant and active community located within the Springfield, MA MSA and is only 7 miles west of downtown Springfield. Springfield is the 3rd largest City in the Commonwealth of Massachusetts with a population of over 150,000 people. There are more than 61,000 people living within 5 miles of the property with a median household income of over $74,000 per year. Massachusetts has one of the nation’s strongest and most vibrant economies and is a national leader in the fields of health services, education, financial services, technology, and bio-technology, among others.


PROPERTY & LOCATION OVERVIEW

ADDRESS #

WESTFIELD DOLLAR GENERAL STORE ELEVATION

Dollar General is the largest small box discount retailer in the United States, operating over 14,000 stores in 44 States. Founded in 1939 and Headquartered in Goodlettsville, TN, Dollar General is undergoing an aggressive expansion, with over 900 stores planned for 2018. Dollar General’s stores provide a hassle-free shopping experience in convenient neighborhood locations, offering products that are frequently used and replenished. Dollar General sells both name brand and national brand products including well-known brands such as Procter & Gamble, General Mills, PepsiCo, Coca-Cola, Unilever, Nestle, Kellogg’s, Clorox, Hanes, Energizer, and Mars.


TENANT OVERVIEW

• PUBLIC COMPANY • NYSE DG • S&P RATING – “BBB” – INVESTMENT GRADE • #128 ON THE 2017 FORTUNE 500 • MARKET CAP $27.086 Billion • 2017 FISCAL YEAR SALES $23.5 Billion • 14,000 + STORES IN 44 STATES • 130,000 + EMPLOYEES • WEBSITE www.dollargeneral.com

representative photo


LOCATION MAP

BOSTON, MA

PROVIDENCE, RI

WATERBURY, CT

WORCESTER, MA

HARTFORD, CT

NEW HAVEN, CT

SPRINGFIELD, MA

VT NH

NY

CT

RI

site

RT.

10

/20

2 14

,90

0 A

DT


MARKET AERIAL

WESTFIELD ELEMENTARY SCHOOL (440 STUDENTS)

WESTFIELD MIDDLESCHOOL (702 STUDENTS)

WESTFIELD HIGH SCHOOL (1,269 STUDENTS)

WESTFIELD BARNESREGIONAL AIRPORT

DOWNTOWN WESTFIELD

I-90 49,337 ADT

EXIT 3

DISTRIBUTION CENTER

DISTRIBUTION CENTER

site

MICHAEL’S FRAME & COLLISION

OFFICE BUILDINGCOMMONWEALTH GUARDRAIL

RT.

10

/20

2 14

,90

0 A

DT


OVERHEAD AERIAL


SITE PLAN

PYLON SIGN

RT. 10

/202 14

,90

0 A

DT


SITE PLAN AERIAL OVERLAY

RT.

10

/20

2 14

,90

0 A

DT

374 Congress Street, Suite 305, Boston, MA 02210 | www.vrpartners.com

TREVOR MCNIVEN 617.504.8083

[email protected] License #9531975

ANDREW CALLAHAN617.894.4499

[email protected] License #9531962

The information set forth in this Offering Memorandom has been secured from sources Venture Retail Partners believes to be reliable, but neither Venture Retail Partners nor any party acting on behalf of Venture Retail Partners makes any representations or warranties, expressed or implied, as to the accuracy or completeness of the information. Without limiting the foregoing, references to square footage, demographics, traffic count or age are based on information provided to Venture Retail Partners and are approximate. Buyer is responsible for the verification of all information provided and all other matters, and bears all risk for any inaccuracies or otherwise.

actual location

exclusive brokers - loopnet · 2019-01-24 · bank, westfield bank, wendy’s, friendly’s, united...

Documents