memorandum · 2020-01-08 · should consult with their own financial, legal, tax and construction...

OFFERING MEMORANDUM

DOLLAR GENERALLAKESIDE (FORT WORTH), TEXAS

SCHUCHERTS RETAIL GROUP

DOLLAR GENERAL | LAKESIDE (FORT WORTH), TEXAS2 SCHUCHERTS RETAIL GROUP

AVERY MURRAH - STROUDLINK REALTY SERVICESBROKER OF RECORD

TX License #9004477


EXCLUSIVELY LISTED BY:

JIM SCHUCHERT Co-Founder & Managing Partner

[email protected] 424.363.6507M 310.971.3892CA License #01969414

JOE SCHUCHERT Co-Founder & Managing Partner



PURCHASE PRICE

$1,689,600LOCATION

9302 CONFEDERATE PARK RD LAKESIDE (FORT WORTH), TEXAS

CAP RATE

6.25%ANNUAL RENT

$105,627.00

BUILDING SIZE

9,100 SQ. FT.LAND AREA

1.21 ACRES

OWNERSHIP

FEE SIMPLELEASE TYPE

ABSOLUTE NNN

TERM REMAINING

8 YEARSLEASE EXPIRATION

11/30/2027

RENEWAL OPTIONS

3 - 5 YEARRENT INCREASES

3% IN YEAR 11 (2022) &10% AT OPTIONS

PARKING

41 SPACESYEAR BUILT

2012

APN

38880-1-3TRAFFIC COUNTS

45,814 VPD

INVESTMENT SUMMARY


D O L L A R G E N E R A L C O R P O R AT E L E A S E :

) Approximately 7.75 Years Remaining in the Initial 15 Year Lease Term ) 2012 Construction - 9,100 SF ) Three (3) - Five (5) Year Options with 10% Rental Increases

3 % R E N T I N C R E A S E I N D E C E M B E R 2 0 2 2 :

) Guaranteed 3% Rental Increase in December 2022 ) In December 2022 (Approximately 3 Years) Cap Rate Increases to 6.44% (As-

suming a Purchase at List Price)

U P G R A D E D C O N S T R U C T I O N :) Upgraded Four Sided CMU Block Brick

) Wide Profile Building Type for Flexible Future Use & Universal Applications

A T R U E C O U P O N C L I P P E R | A B S O L U T E N N N L E A S E :

) Absolute NNN Lease with ZERO Management Responsibilities

F O R T WO R T H , T E XA S :

) The 13th Largest City in the United States and the Fifth-Largest City in Texas ) Voted One of “America’s Most Livable Communities,” Fort Worth Boasts a

Multitude of Advantages that Attract and Retain Businesses: a Pro-Business City Government, an Excellent Labor Force and a Highly Competitve Cost of Living

) The Dallas/Fort Worth Metroplex has the 4th Highest Concentration of Fortune 500 Headquarters in the United States

) Ranked #20 Best Place for Business and Careers by Forbes Magazine

P R OXI M I T Y T O O T H E R M A J O R C I T I E S :) Arlington, Texas | 33 Miles - 58 Minute Drive) Dallas, Texas | 44 Miles - 1 Hour: 18 Minute Drive) Plano, Texas | 56 Miles - 1 Hour: 13 Minute Drive) Waco, Texas | 104 Miles - 1 Hour: 49 Minute Drive

) Austin, Texas | 189 Miles - 3 Hour: 7 Minute Drive) Houston, Texas | 279 Miles - 4 Hour: 21 Minute Drive

T R A D E A R E A D E M O G R A P H I C S :

) 1-Mile = 1,767 Residents ; $132,338 Average Household Income ) 3-Mile = 13,465 Residents ; $103,708 Average Household Income

) 5-Mile = 72,959 Residents ; $93,230 Average Household Income

T E N A N T :

) Dollar General (NYSE: DG) Features Investment Grade Credit “BBB” by Standard & Poor’s

) 16,094 Stores in 44 States as of November 1, 2019 ) Dollar General Plans to Undertake Some 2,600 Real Estate Projects in 2020,

Including 1,000 New Store Openings (Up from 975 in 2019), 1,500 Mature Store Remodels, and 80 Store Relocations

) Ranked #123 on the Fortune 500 List - Up 5 from Last Year (Dollar General has Moved Up the Fortune 500 Rankings for the 10th Consecutive Year

) Long Term History of Same-Store Sales Growth - 2019 Marked the Company’s 28th Consecutive Year

INVESTMENT HIGHLIGHTS


ARLINGTON

33 Miles

DALLAS

44 Miles

PLANO

56 Miles

2019 ESTIMATED POPULATION

1 Mile 1 ,767

3 Mile 13,465

5 Mile 72,959

2019 AVERAGE HOUSEHOLD INCOME

1 Mile $132,338

3 Mile $103,708

5 Mile $93,230

2019 ESTIMATED TOTAL EMPLOYEES

1 Mile 598

3 Mile 2,905

5 Mile 17,663


F O R T WO R T H , T E XA SFort Worth is the 16th-largest city in the United States and the fifth-largest city in the state of Texas. Fort Worth, incorporated in 1873, is a political subdivision and municipal corporation of the State of Texas, located in Tarrant, Denton, Parker, Wise and Johnson Counties. The City serves a population of 851,362 as of July 1, 2017.

Fort Worth is located in North Texas, and has a generally humid subtropical climate. It is part of the Cross Timbers region; this region is a boundary between the more heavily forested eastern parts and the rolling hills and prairies of the central part. Spe-cifically, the city is part of the Grand Prairie ecoregion within the Cross Timbers. The Dallasâ€“Fort Worth metroplex is the hub of the North Texas region. According to the United States Census Bureau, the city has a total area of 298.9 square miles.

Fort Worth is a Sunbelt city marked by its steady growth and diverse economy. Relocation of major firms to the greater Fort Worth area, renovation of many historical landmarks, shopping areas, and a host of public-private cooperative development ventures comprise Fort Worth’s economic past. For the future, the ground has already been broken for ambitious commercial, retail, and residential developments. Fort Worth is one of two major cities in the Dallas/Fort Worth metropolitan area. The Dal-las/Fort Worth Metropolitan area contains a populaton of more than 6.9 million people.

Major companies based in Forth Worth include American Airlines Group (and subsidiaries American Airlines and Envoy Air), D.R. Horton, the John Peter Smith Hospital, Pier 1 Imports, Radio Shack, and the BNSF Railway. In 2013, Fort Worth-Arlington ranked 15th on the Forbes’ list of the Best Places for Business and Careers.

Fort Worth has traditionally been a diverse center of manufacturing and is not dependent on the oil or financial sectors. The city’s industries range from clothing and food products to jet fighters, helicopters, computers, pharmaceuticals, and plastics. Fort Worth is a national leader in aviation products, electronic equipment, and refrigeration equipment. It is home to a multi-tude of major corporate headquarters, offices, and distribution centers.

AREA OVERVIEW


AREA DEMOGRAPHICS

POPULATION 1 MILE 3 MILE 5 MILE

2019 Population 1 ,767 13,465 72,959

2024 Projected Population 1 ,881 14 ,375 77,668

2010 Population 1 ,679 12 ,119 60,477

Annual Growth Rate: 2019 to 2024 1 .29% 1.35% 1.29%

HOUSEHOLDS 1 MILE 3 MILE 5 MILE

2019 Households 712 5,182 26,623

2024 Households 755 5,521 28,227

2010 Households 680 4,619 22,097

Annual Growth Rate: 2019 to 2024 1 .20% 1.30% 1.20%

Average Household Size 2.48 2.60% 2.74%

INCOME 1 MILE 3 MILE 5 MILE

Average Household Income $132,338 $103,708 $93,230

Median Household Income $93,278 $83,429 $80,617

Per Capita Income $53,326 $40,093 $34,155

HOUSING 1 MILE 3 MILE 5 MILE

2019 Housing Units 712 5,182 26,623

2019 Owner-Occupied Units 624 3,905 19,479

2019 Renter Occupied Housing Units 88 1,277 7,144

PLACE OF WORK 1 MILE 3 MILE 5 MILE

2019 Businesses 98 375 2,047

2019 Employees 598 2,905 17,663

DOLLAR GENERAL | LAKESIDE (FORT WORTH), TEXAS1 1 SCHUCHERTS RETAIL GROUP

16 ,094 STORES STORESDISTRIBUTION CENTER

IN 44 STATESAS OF NOV 1 , 2019

A B O U TDollar General Corporation has been delivering value to shoppers for 80 years. Dollar General helps shoppers Save time. Save money. Every day!® by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares and seasonal items at everyday low prices in con-venient neighborhood locations. Dollar General operated 16,094 stores in 44 states as of November 1, 2019. In addition to high-quality private brands, Dollar General sells prod-ucts from America’s most-trusted manufacturers such as Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestle, Kimberly-Clark, Kellogg’s, General Mills, and PepsiCo.

ca

or

wa

id

mt

wy

utco

aznm

tX

ok

ks

ne

sd

ndmn

wimi

ia

mo

ar

msal ga

la

fl

nv

sc

wv

nctn

ky

ohil in

pa

mdde

rict

ma

nhvt

va

ny

me

nj

1,474

440430

99156

21622

52

1

1147

235

123 236

134

26

52511

792

189

544 520

518

559

510 757 855

541

814772

524

242 418

715

461

5536

35

45

15

56

132

45

137

849

STOCKNYSE: DG

YEAR FOUNDEDOther Info

CREDIT RATINGS&P: BBB

HEADQUARTERSGoodlettsville, TN

MARKET CAP$40 Billion

STORES16,094

FORTUNE 500#119

NO. EMPLOYEES135,000

TENANT OVERVIEW


C O 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 Offering Memorandum is confidential and is furnished to prospective purchasers of the Dollar General located at 9302 Confederate Park Road, Lakeside (Fort Worth), TX 76135 (“Property”). This Offering Memorandum is intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Prop-erty. The information and materials contained herein are selective and limited in nature, and neither Owner or Schuchert Retail Group purports this to be an all-inclusive report on the Property.

This Offering Memorandum contains select information pertaining to the Property and does not purport to be all-inclusive or contain all or part of the information which prospective purchasers may require to evaluation a purchase of the Property. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable. However, Schuchert Retail Group has not and will not verify any of this information, nor has Schuchert Retail Group conducted any investigation regarding these matters. Schuchert Retail Group makes no guarantee, warranty or representation, express or implied, as to the truth, accuracy or completeness of any information provided and no legal commitments or obligations shall arise by reason of this Offering Memorandum or its contents. The information contained herein is not a substitute for a thorough due diligence investigation. All infor-mation is presented “as is” without representation or warranty of any kind. It is your responsibility to independently confirm its accuracy and completeness.

Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence, including engineering and environmental inspections, to determine the condition of the Property and its suitability for their needs. Prior to submitting an offer, prospective purchasers should consult with their own financial, legal, tax and construction advisors to determine the consequences of an investment in the Property and arrive at an independent evaluation of such investment.

By receipt of this Offering Memorandum for the Property, you agree that:

- This Offering Memorandum and its contents are of a confidential nature.

- You will treat it in the strictest confidence.

- You will not disclose this Offering Memorandum or any of its contents to any other person or entity without the prior written authorization of the Owner or Schuchert RetailGroup.

- You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interestof the Owner or Schuchert Retail Group.

- You will be responsible for making your own decisions.

Owner and Schuchert Retail Group expressly reserve the right, in its sole discretion, to: (i) reject any or all expressions of interest or offers to purchase the Property without providing any reason or (ii) to terminate any negotiations with any party, at any time, with or without notice. The Owner shall have no legal commitment or obligations to any recipient viewing this Offering Memorandum or making an offer to purchase the property unless and until a written agreement for the purchase of the property has been fully executed on terms acceptable to Owner and any and all conditions set by Owner have been fully satisfied or waived.

By accepting this Offering Memorandum you agree to release the Seller and Schuchert Retail Group of any and all liability and hold the parties harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of the Property.

This Offering Memorandum shall not be deemed an indication of the state of the affairs of the Property, nor constitute an indication that there has been no change in the business or affairs of the Property since the date of preparation of this Offering Memorandum.


EXCLUSIVELY LISTED BY:

JIM SCHUCHERT Co-Founder & Managing Partner


JOE SCHUCHERT Co-Founder & Managing Partner

[email protected] 424.363.6508 M 310.971.3116CA License #01973172

AVERY MURRAHStroudlink Realty Services

Broker of RecordTX License #9004477


memorandum · 2020-01-08 · should consult with their own financial, legal, tax and construction...

Documents