dOllar general · 2019-05-16 · COnfidentialitY & disClaiMer stateMent ... priCing and finanCial analYsis prOpertY desCriptiOn deMOgrapHiCs priCing and finanCial analYsis prOpertY

™

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

dOllar general 975 greenwOOd ave, Zanesville, OH 43701

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 M emorandum contains se lec t information per ta ining to the business and af fa i rs of dollar generallocated at 975 greenwood ave, Zanesville, OH 43701 (“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 M emorandum 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 sel 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 | Zanesville, OH .......................................................... 12demographics report ........................................................................... 13

Calvin shortpartner direCt +1.310.919.5770 MOBile +1.310.567.3525 [email protected] license no. 01927216

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

Josh Bishop senior associate direCt +1.310.919.5823 MOBile +1.315.730.6228 [email protected] license no. 01940394

lawrence BergmanBroker of record license no. 000348029

™

Matthews retail advisors



pricing & financial analysis

™representative pHOtO


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 dollar general property located in Zanesville, OH. with more than 25,000 residents, the blue-collar city of Zanesville is ideal for a discount retailer such as dollar general. the subject property is located on greenwood ave, adjacent from Bishop rosecrans High school.

dollar general initially signed a 15-Year absolute nnn lease, with a 3% rent increase in year 11, and has 5 - 5 Year options to renew, all of which include a 10% rent increase. dollar general continues to perform exceptionally well, improving their average store sales and increasing profitability year-over-year; futhermore, dollar general is the only dollar store which has investment grade credit.

investment Overview

investments Highlights• ideal 1031 exchange property

• High Quality all Brick Construction

• absolute nnn lease; no Management responsibility

• strong Corporately guaranteed lease

• strong retail location

• Blue-Collar City, ideal for dollar general

• ±30,500 residents within 5-Mile radius

• average Household income in dollar generals “sweet-spot”

Matthews retail advisors p. 3Dollar General | OFFERING MEMORANDUM



executive summary

dOllar general975 greenwOOd ave Zanesville, OH 43701

list price ......................................................................................................... $1,582,875Cap rate - Current ...............................................................................................6.40%gross leasable area ....................................................................................... 9,002 sflot size .................................................................................... 0.75 acres (32,670 sf)Year Built .................................................................................................................... 2013

annualized Operating dataMonthly rent annual rent rent/sf

Current - 2/28/2023 $8,442.00 $101,304.00 $11.25

3/1/2023 - 2/28/2028 $8,695.25 $104,343.00 $11.59

Option 1 - 2/28/2033 $9,564.78 $114,777.30 $12.75

Option 2 - 2/28/2038 $10,521.25 $126,255.03 $14.03

Option 3 - 2/28/2043 $11,573.38 $138,880.53 $15.43

Option 4 - 2/28/2048 $12,730.72 $152,768.59 $16.97

Option 5 - 2/28/2053 $14,003.79 $168,045.44 $18.67

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 2/13/2013

lease expiration date 2/29/2028

term remaining on lease +12.25 Years

increases 3% in Year 11 & 10% in Options

Options five (5) - 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 $16.2 Billion

net income $952.66 Million

stock symbol dg

Board nYse

no. of locations 11,132

no. of employees ±90,500

Headquartered goodlettsville, tn

web site www.dollargeneral.com

Year founded 1939

property description

™






physical description

tHe Offering

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

property address ........................................................................... 975 greenwood ave

Zanesville, OH 43701

assessor’s parcel number ...................................................................84-26-05-41-000

site desCriptiOn

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

Year Built .......................................................................................................................... 2013

gross leasable area (gla) .................................................................................. 9,002 sf

lot size ........................................................................................... 0.75 acres (32,670 sf)

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

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

parking ratio ................................................................................................3.33 : 1,000 sf

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

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

COnstruCtiOn

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

exterior ............................................................................................................................. Brick

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




Bird’s eye



regional Map



tenant Map

demographics

™


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

City Overview | Zanesville, OH located on i-70 fifty miles east of Columbus, Zanesville is the county seat and largest city (population 25,586) in Muskingum County. Zanesville is located in the central part of Ohio, along the Muskingum river, and is approximately 12 square miles. the city is known for having a rich history and an abundance of natural resources.

downtown Zanesville is a popular attraction for both residents and visi-tors alike. the downtown area boasts a number of dining establishments, bars and taverns, entertainment options, and specialty retailers. down-town Zanesville is also quickly becoming a growing destination for artists and art enthusiasts. every month, there is a “first friday” event where local artists celebrate their work and share with the community. addition-ally, there are several art galleries to enjoy in the downtown area. Other fixtures of the downtown area include hotels, seacreast auditorium, John Mcintire library, as well as the police and fire station.

in addition to the downtown area, Zanesville is home to many other attractions. the Colony square Mall, opened in 1981, is an enclosed shopping mall that features 80 stores and a movie theater. this 610,000 square foot shopping center draws in people from the entire Zanesville area. for outdoor enthusiasts, there are an abundance of recreational ac-tivities available in the city. there are hiking trails, community parks, golf courses, and boating and fishing options, to name a few.



demographics reportpopulation 1-Mile 3-Mile 5-Mile2020 projection 4,862 29,638 44,1622015 estimate 5,035 30,566 45,0132010 Census 5,295 31,704 45,9762000 Census 5,649 33,050 46,151

Households2020 projection 1,991 12,547 19,0322015 estimate 2,049 12,841 19,2462010 Census 2,097 13,035 19,2742000 Census 2,181 13,227 18,689

income$0 - $15,000 30.15% 23.52% 21.13%$15,000 - $24,999 17.07% 18.23% 17.06%$25,000 - $34,999 12.32% 13.71% 13.01%$35,000 - $49,999 15.70% 14.47% 14.37%$50,000 - $74,999 13.71% 14.57% 15.84%$75,000 - $99,999 5.86% 8.66% 10.19%$100,000 - $124,999 2.62% 3.48% 4.51%$125,000 - $149,999 1.15% 1.35% 1.48%$150,000 - $199,999 1.02% 1.08% 1.31%$200,000 - $249,999 0.19% 0.37% 0.45%$250,000 - $499,999 0.15% 0.42% 0.49%$500,000+ 0.06% 0.14% 0.13%2015 est. average Household income $37,208 $42,997 $46,6052015 est. Median Household income $27,258 $31,020 $34,076

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

dOllar general975 greenwood aveZanesville, OH 43701Offering MeMOranduM

lawrence BergmanBroker of record license no. 000348029

Calvin shortpartner direCt +1.310.919.5770 MOBile +1.310.567.3525 [email protected] license no. 01927216

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

Documents

dOllar general · 2019-05-16 · COnfidentialitY & disClaiMer stateMent ... priCing and finanCial analYsis prOpertY desCriptiOn deMOgrapHiCs priCing and finanCial analYsis prOpertY