New Construction Absolute NNN 601 Franklin Ave. 15-Year ... · year absolute NNN Lease set to commence in July 2019. Dollar General (DG) then has 3 extension options of 5 years each,

New Construction

Absolute NNN

15-Year Lease

601 Franklin Ave.

Aliquippa, PA 15001

Offering MemorandumRepresentative Photo

INVESTMENT OVERVIEWA L I Q U I P P A , P A

PennTexVentures, LLC is pleased to

exclusively present to the market the newly

constructed Dollar General store #20291,

located in the City of Aliquippa, PA; South-

Western Pennsylvania 17 miles Northwest

of Pittsburgh, PA and 6 miles Southeast of

the City of Beaver, PA. The Tenant has a 15-

year absolute NNN Lease set to commence

in July 2019. Dollar General (DG) then has 3

extension options of 5 years each, with 10%

rent bumps in each option. The lease is

backed by a corporate guaranty from Dollar

General Corporation, who is investment

grade rated BBB by Standard and Poor’s and

did $25.6 Billion in annual sales in 2018. DG

is #119 on the 2019 Fortune 500 list.

This store is located in the main downtown

retail center of the City of Aliquippa, PA. The

site sits on Franklin Ave. which sees 8,300

VPD (per PennDOT) at a lighted

intersection. This store has nearly 200’ of

road fronting directly on Franklin Ave. and

features a full turn access curb cut. Within a

5 mile radius of this store there is a

population of 68,313, and 29,110 households

with a median household income of

$53,109.

▪ Dollar General (#20291) – City of Aliquippa (South-Western PA) 17 miles NW of

Pittsburgh, PA | 6 miles SE of Beaver, PA

▪ 15-Year Guaranteed NNN Lease with rent to commence in July 2019

▪ 3-Five Year Option Periods with 10% rent bumps in each Option Period

▪ Brand new construction

▪ Corporate guaranteed by Dollar General Corporation

▪ Investment Grade Rated BBB by Standard and Poor’s

▪ 68,300 people within 5 miles | 8,300 VPD

Aliquippa,PABeaver

Pittsburgh,

2Contact: Brendan Eisenbrandt | (724) 420-5367 (x126) | [email protected]

Pittsburgh

International

Airport

MARKET SUMMARYA L I Q U I P P A , P A


PROPERTY SUMMARYA L I Q U I P P A , P A

A D D R E S S 601 Franklin Ave. Aliquippa, PA 15001

S TO R E N U M B E R #20291

A P P ROX I M AT E

AC R E AG E

0.45 ac.

B U I L D I N G S I Z E 9,100 sf

Y E A R B U I LT 2019

E X T E R I O R Steel and masonry

V E H I C L E S P E R DAY 8,300 VPD on Franklin Ave.

S I G N AG E 1 pylon sign & 1 building sign

PA R K I N G 18 Parking Spaces

I N G R E S S / E G R E S S Full turn ingress and egress to Franklin

Ave.

▪ Located nearby other synergistic retailers

▪ Sits at a lighted intersection

▪ Investment Grade Tenant

▪ Daytime Population of 55,000

▪ 8,300 VPD on Franklin Ave.


Representative Photo

FINANCIAL OVERVIEWA L I Q U I P P A , P A

P R I C E $1,392,186

C A P R AT E 6.45%

L E A S E T Y P E Triple-Net (NNN)

G RO S S N O I $89,796

P R I C E P E R S F $150.27

L A N D L O R D R E S P O N S I B I L I T I E S Initial payment of real estate taxes; reimbursable by Tenant.

T E N A N T R E S P O N S I B I L I T I E S Cost of utilities, real estate taxes, and insurance. Maintenance and repair of

roof, interior/exterior, landscaping and parking lot.



LEASE SUMMARYA L I Q U I P P A , P A

R E N T C O M M E N CE ME NT

DAT E

Tentative July 2019

O P T I O NS TO R E N E W 3 Five-Year Options with

10% Rent Increases in Each Option

L E A S E G UA R A N TOR Dollar General Corporation

A N N UA L R E N T M O N T H LY P E R S F

Years 1-15 $89,796 $7,483 $9.86

Option Years 16-20 $98,775.60 $8,231.30 $10.85

Option Years 21-25 $108,653.65 $9,054.43 $11.93

Option Years 26-30 $119,518.44 $9,959.87 $13.13



TENANT OVERVIEWA L I Q U I P P A , P A

Dollar General (NYSE: DG) headquartered in Goodlettsville, TN is the largest small-box discount retailer store in

the nation. Dollar General aims to make shopping for everyday needs simpler and hassle-free by offering a focused

assortment of the most popular national and private brands in general merchandise, cosmetics, toiletries, beverages

and groceries at competitive prices in small and convenient locations. A Fortune 500 company (#119), Dollar

General is investment grade rated BBB by Standard and Poor’s. With $25.6 billion in annual sales in 2018, DG saw a

$1.6 billion profit. 2018’s same-store sales marked Dollar General’s 29th consecutive year of same-store sales

growth.

15,000+ StoresRated BBB by Standard &

Poor

135,000+ Team MembersNumber 119 in Fortune

500 (May 2019)

80 Years in operation

3.25% increase in profit &

9.2% increase in sales

from 2017 to 2018

$25.6 Billion in Annual

Sales in 2018

$1.6 Billion in Profit in

2018



DEMOGRAPHICSA L I Q U I P P A , P A

2-Mile 3-Mile 5-Mile

Population

2018 19,139 36,721 68,313

Households

2018 8,686 16,218 29,110

Household Income

2018 Median

HH Income$39,925 $45,423 $53,109

Daytime Population

Total 2018 16,866 28,864 55,702


GREATER PITTSBURGH MSA OVERVIEWA L I Q U I P P A , P A

Over the last three decades, the greater Pittsburgh region has experienced a dramatic revitalization and has attracted national attention as one of the most appealing locations in the country to live, work and own real estate. Pittsburgh has continued to provide excellent education, world renowned health care, and has recently become one of the nation’s leaders in technology as tech giants such as Amazon, Apple, Google, Uber and Facebook have recently opened operations in the city. As a result, an historically older population has retained more college graduates and attracted more young talent to the area, leading to a 22.1% population increase from 2000-2016 for ages 20-24.

As Pittsburgh has made its presence known on the national stage as an increasingly favorable place to live, the outlook remains positive for real estate investors in the area. Overall, investment and development deals in the area were up almost 25% in 2018. Household income growth is expected to remain above the national average in 2019, and with retail vacancies among the lowest in the nation, developers see Pittsburgh as an attractive location to provide space to retailers that are eager to enter the market but struggling to find locations in the area. Specifically to the Aliquippa region, the construction of the Shell Cracker Plant will dramatically affect the immediate community, leading to an estimated 6,000 construction jobs and 600 permanent, long-term positions.

The city’s residents are served by the Aliquippa School District. Children may also choose to attend a public charter school: Beaver Area Academic Charter School, Lincoln Park Performing Arts Charter School, or the Pennsylvania Cyber Charter School, a statewide public charter school based in Midland.

Within a 10-mile drive from the City of Aliquippa there are 4 Colleges and Universities, Robert Morris University, Geneva College, Community College of Beaver County, and Penn State Beaver Campus totaling about 6,680 students. With this proximity it is a great commuting distance from Aliquippa.


MARKET OVERVIEWA L I Q U I P P A , P A

Most notably, the new $3 billion Shell Cracker Plant ( a 10-minute driver from the store) is under construction, currently employing 6,000 temporary workers and will generate an estimated 600 permanent, long term jobs, it will also be a major driver of population growth and traffic near the store.

Business Name Number of Employees

Shell Cracker Plant 6,000 temporary employees

600 permanent long term jobs

Aliquippa Area School District 2,636 students

327 faculty & staff

Aliquippa Industrial Park 18 business

250 employees

Ambridge Plant 150

Town Tower Apartments 60 units

Valley Terrace Apartments 144 units

Housing Authority Apartments 44 units

Sheffield Towers 44 units

The City of Aliquippa is located within Beaver County in Southwestern Pennsylvania, sitting 17 miles Northwest of Downtown Pittsburgh. The

area benefits from Franklin Ave. (8,300 VPD) which is a primary artery into Aliquippa by connecting traffic from 2 major roadways in the

Pittsburgh MSA, Rt. 376 & Rt. 51. The Rt. 376 (27,000 VPD per PennDOT) interchange is a short 5-minute drive from the store and provides

access to the Pittsburgh International Airport, located 7.5 miles South of the market and continues Southeast, directly through Downtown

Pittsburgh and to the Eastern Suburbs of the Pittsburgh MSA. Rt. 51 (11,000 VPD per PennDOT) is a major feeder road running North to

South and is one of the main routes to access the City of Aliquippa. These nearby major roadways and proximity to the river make the area

attractive to manufacturing business such as a branch of IPSCO (Ambridge Plant), the leading supplier of pipe and connection lines for the oil

& gas industry (150 employees) and the 18 businesses located in the Aliquippa Industrial Park (250+ employees combined). There are 4 large

apartment complexes all within a 3 to 7-minute walk of the store. These 4 complexes provide housing to over 270 families. In addition, there

are numerous private residential homes surrounding the store within walking distance. The area is served by the Aliquippa Area School

District (campus located within a 4-minute drive of the site) which serves 1,170 students and employs 254 faculty and staff.


Dollar General

Contact:

Brendan Eisenbrandt

724-420-5367 ext. 126

412-225-7518

[email protected]

Broker of Record:

Timothy H. Weinman

PA: RB-046768L

601 Franklin Ave.

Aliquippa, PA 15001

mailto:[email protected]

Documents

New Construction Absolute NNN 601 Franklin Ave. 15-Year ... · year absolute NNN Lease set to commence in July 2019. Dollar General (DG) then has 3 extension options of 5 years each,