214.915.8890

JOE CAPUTO

joe@exp1031.com

BOB MOORHEAD

bob@exp1031.com

RUSSELL SMITH

russell@exp1031.com

property. Brand new Dollar General build-to-suit, 9,026+ SF building on 1.1+ acres. Metal building with masonry and glass storefront.

tenant. S&P Rated BBB-, Operates 10,557 stores in 40 states. Ranked 183rd within the Fortune 500 Companies. Fiscal 2012 revenues exceeded $16.02 billion.

lease structure. Corporate, 15-year, NNN lease beginning March 2014 with a 10% rent increase at the beginning of each option.

location. Dollar General is located off of Highway 99 (18,222 Cars / Day) – a major north-south thoroughfare that runs from Los Molinos to Sacramento, and

passes through Chico, Live Oak, and Yuba City. The site has great visibility along Highway 199 and is easily accessible to local and outer-city traffic. The subject

property shares Highway 199 with many national credit tenants. These tenants include Mcdonald’s, Burger King, Taco Bell, Subway, 7-Eleven, Starbucks, Rite

Aid, CVS, Safeway, Napa Auto Parts, Chevrolet, Buick, Ford, H&R Block, MetroPCS, H&R Block, Edward Jones, and Great Clips. The site is just one mile

southeast of central/downtown Gridley which contains many local retailers and manufacturers. Gridley is located 57-miles north of Sacramento.

EXCLUSIVE OFFERING | $2,500,000

Dollar general | S&P Rating BBB-

1480 HIGHWAY 99, Gridley, CA

Representative Photo

DisclaimerEXP Realty Advisors, Inc. (“Agent”) has been engaged as an agent for the sale of the

property located at 1480 Highway 99, Gridley, CA by the owner of the Property (“Seller”).

The Property is being offered for sale in an “as-is, where-is” condition and Seller and Agent

make no representations or warranties as to the accuracy of the information contained in

this Offering Memorandum. The enclosed materials include highly confidential information

and are being furnished solely for the purpose of review by prospective purchasers of the

interest described herein. The enclosed materials are being provided solely to facilitate the

prospective investor’s own due diligence for which it shall be fully and solely responsible.

The material contained herein is based on information and sources deemed to be reliable,

but no representation or warranty, express or implied, is being made by Agent or Seller or

any of their respective representatives, affiliates, officers, employees, shareholders,

partners and directors, as to the accuracy or completeness of the information contained

herein. Summaries contained herein of any legal or other documents are not intended to be

comprehensive statements of the terms of such documents, but rather only outlines of

some of the principal provisions contained therein. Neither the Agent nor the Seller shall

have any liability whatsoever for the accuracy or completeness of the information contained

herein or any other written or oral communication or information transmitted or made

available or any action taken or decision made by the recipient with respect to the Property.

Interested parties are to make their own investigations, projections and conclusions without

reliance upon the material contained herein. Seller reserves the right, at its sole and

absolute discretion, to withdraw the Property from being marketed for sale at any time and

for any reason. Seller and Agent each expressly reserves the right, at their sole and

absolute discretion, to reject any and all expressions of interest or offers regarding the

Property and/or to terminate discussions with any entity at any time, with or without notice.

This offering is made subject to omissions, correction of errors, change of price or other

terms, prior sale or withdrawal from the market without notice. Agent is not authorized to

make any representations or agreements on behalf of Seller. Seller shall have no legal

commitment or obligation to any interested party reviewing the enclosed materials,

performing additional investigation and/or making an offer to purchase the Property unless

and until a binding written agreement for the purchase of the Property has been fully

executed, delivered, and approved by Seller and any conditions to Seller’s obligations

hereunder have been satisfied or waived. By taking possession of and reviewing the

information contained herein, the recipient agrees that (a) the enclosed materials and their

contents are of a highly confidential nature and will be held and treated in the strictest

confidence and shall be returned to Agent or Seller promptly upon request; and (b) the

recipient shall not contact employees or tenants of the Property directly or indirectly

regarding any aspect of the enclosed materials or the Property without the prior written

approval of the Seller or Agent; and (c) no portion of the enclosed materials may be copied

or otherwise reproduced without the prior written authorization of Seller and Agent.

Table of contents | Disclaimer Dollar General

1480 HIGHWAY 99, Gridley, CA

PAGE 3: INVESTMENT OVERVIEW

PAGE 1: COVER

PAGE 2: TABLE OF CONTENTS | DISCLAIMER

PAGE 7-8: LOCATION MAPS

PAGE 9: DEMOGRAPHICS

PAGE 4: SITE PLAN

PAGE 5: AERIAL PHOTO

PAGE 6: LOCATION OVERVIEW

CONSTRUCTION PROGRESS 3/5/14

Dollar General | www.dollargeneral.com | S&P Rating BBB- (upgraded from BB+ in April, 2012)

Cal Turner founded J. L. Turner & Son, Inc. in 1939, and opened the first Dollar General store in Scottsville, Kentucky in June 1955. Today, Dollar General

Corporation operates as the country’s largest small-box discount retailer with stores in the southern, southwestern, midwestern, and eastern United States. The

stores are typically located in local neighborhoods and small communities deemed “too small” for big-box retailers. Dollar General offers both name-brand and

generic merchandise—including off-brand goods and closeouts of name-brand items. Although it has the word “dollar” in the name, Dollar General is not a dollar

store. Many of its offerings are priced at more than one dollar. However, goods are usually sold at set price points of penny items and up to the range of 50 to 60

dollars, not counting phone cards and loadable store gift cards. The company provides paper and cleaning products (paper towels, bath tissues, paper

dinnerware, trash and storage bags, laundry, and other home cleaning supplies), packaged food and perishables (cereals, canned soups and vegetables, sugar,

flour, milk, eggs, and bread), beverages, snacks (such as candies, cookies, crackers, salty snacks, and carbonated beverages), over-the-counter medicines,

personal care products (soap, body wash, shampoo, dental hygiene, and foot care products), pet supplies and pet food products, seasonal products (decorations,

toys, batteries, small electronics, greeting cards, and stationery) prepaid cell phones and accessories, gardening supplies, hardware, automotive, home office

supplies, home products (kitchen supplies, cookware, small appliances, light bulbs, storage containers, frames, candles, and craft supplies, as well as kitchen,

bed, and bath soft goods), and casual, everyday apparel (for infants, toddlers, girls, boys, women, and men, as well as socks, underwear, disposable diapers,

shoes, and accessories). Since the turn of the century, Dollar General has added stores that carry a greater selection of grocery items, which operate under the

name “Dollar General Market”.

In 2007 Kohlberg Kravis Roberts & Co. (KKR) acquired Dollar General, privatized the company for restructuring, and took the company public again in 2009. As of

March 1, 2013, Dollar General operated 10,557 stores in 40 states. The company ranks 183rd within the Fortune 500 Companies. Fiscal 2012 revenues exceeded

$16.02 billion (up 8.21% from 2011) with profits of $952.66 million (up 24.25% from 2010). The company’s current market value is estimated to be $16.58 billion.

PRICE: $2,500,000

NET OPERATING INCOME: $150,013

BUILDING AREA: 9,026+ Square Feet

LAND AREA: 1.1+ Acres

YEAR BUILT: 2014

OWNERSHIP: Fee Simple Interest

OCCUPANCY: 100%

CONSTRUCTION TYPE: Metal building

Masonry & Glass Storefront

3

Investment overviewDollar General

1480 HIGHWAY 99, Gridley, CA

Projected Lease Expiration: March 2029

Projected Rent Commencement: March 2014

Initial Lease Term: 15-Years, Plus 3, 5-Year Options to Renew

Rent Increases: 10% in Option Periods

Year 1-15 Annual Rent (Current): $150,013

Lease Type: NNN

Year 16-20 Annual Rent (Option 1): $165,014

Year 21-25 Annual Rent (Option 2): $181,516

Year 26-30 Annual Rent (Option 3): $199,667

Lease overview

Tenant overview

CORPORATE GUARANTY: Dollar General Corporation

LESSEE: Dolgen California, LLC

4

SITE PLANDollar General

1480 HIGHWAY 99, Gridley, CA

5

Aerial photoDollar General

1480 HIGHWAY 99, Gridley, CA

Gridley INN RV Park

Central / Downtown Gridley

(local retail & manufacturing)

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ay 9

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ars

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IMMEDIATE TRADE AREA

Dollar General is located off of Highway 99 (18,222 Cars / Day) – a major

north-south thoroughfare that runs from Los Molinos to Sacramento, and

passes through Chico, Live Oak, and Yuba City. The site has great visibility

along Highway 199 and is easily accessible to local and commuter traffic.

The subject property shares Highway 199 with many national credit tenants.

These tenants include Mcdonald’s, Burger King, Taco Bell, Subway, 7-Eleven,

Starbucks, Rite Aid, CVS, Safeway, Napa Auto Parts, Chevrolet, Buick, Ford,

H&R Block, MetroPCS, Edward Jones, and Great Clips. The site is just one

mile southeast of central/downtown Gridley which contains many local retailers

and manufacturers.

GRIDLEY / BUTTE COUNTY, CA

Gridley has a central location, it is strategically positioned in the heart of

California and the Central Valley, along Highway 99, and is close to larger

metropolitan areas. Gridley has prime industrial and commercial sites with

access to rail and Highway 99. Manufacturing ranges from ag-related, such as

fruit, rice and nut processing, to outdoor/athletic equipment. The 70-acre

Gridley Industrial Park opened in 2004 to house light manufacturing and

assembly firms.

Butte County is a county located in the Central Valley of the US state of

California, north of the state capital of Sacramento. As of the 2010 census, it

had a population of 220,000. Butte County's rich soil, temperate climate and

abundant water supply help produce a variety of crops, valued at nearly $300

million. Top crops include: rice, almonds, walnuts, prunes, peaches and kiwi

fruit. A healthy agricultural industry fuels Butte County with over $721 million in

agricultural production in 2012. Rice is the 3rd leading crop in Butte County with

an estimated production of nearly $155 million in 2012.

As of January 2011, Butte County is home to 552 arts-related businesses that

employ 1,523 people. These businesses play an important role in building and

sustaining economic vibrancy. They employ a creative workforce, spend money

locally, generate government revenue, and are a cornerstone of tourism and

economic development. The creative industries account for 4.09% of the

13,492 total businesses located in Butte County, CA.

GREATER SACRAMENTO AREA

The Greater Sacramento area, or officially Sacramento–Arden-Arcade–Yuba

City, CA-NV Combined Statistical Area, is an urbanized region and combined

statistical area consisting of several metropolitan statistical areas and seven

counties in Northern California and one in Western Nevada. These are

Sacramento, Yolo, El Dorado, Placer, Sutter, Yuba, and Nevada counties in

California, and Douglas County in Nevada. Recently it has been one of the

fastest growing regions in the United States as Sacramento continues to

emerge as a distinct metropolitan center in the United States as well as having

cheaper housing for commuters from and to the nearby, more expensive, San

Francisco Bay Area. The metropolitan area experienced a growth of nearly

20% in the last decade. In the 2000 census, the Sacramento MSA had a

population of 1,930,857 (though a July 1, 2009 estimate placed the population

at 2,458,355). The 2010 United States Census estimates for the region totaled

a population of 2,461,780, making it the 4th largest metropolitan region in

California and 18th largest in the United States.

It lies in the Central Valley and Sierra Nevada regions of California as well as a

small region of Western Nevada. Greater Sacramento is anchored by

Sacramento, the political center of California, with the largest number of

representatives in the U.S. government, home of the California State Capitol

and the secondary location of Supreme Court of California and was the original

terminus for the First Transcontinental Railroad. Greater Sacramento also

contains sites of natural beauty including Lake Tahoe, the largest alpine lake in

North America and numerous ski and nature resorts. It is also located in one of

the world's most important agricultural areas.

Due to its central location between the Bay Area and Nevada border, Greater

Sacramento is a key transportation hub into Northern California. While the

region doesn't have an extensive public transportation system as the two larger

metropolitan areas of California, Greater Los Angeles and the San Francisco

Bay Area, Greater Sacramento has had an earlier history of public mass transit

and is served by a vast freeway system as well as some light rail. Sacramento

is the largest rail hub west of the Mississippi River and was the first terminus of

the First Transcontinental Railroad before it extended to Oakland. The

Sacramento Regional Transit District is the local transit agency for Sacramento

County and operates two 37.42 mile (60.22 km) long light rail lines, the Blue

Line and Gold Line that serve Sacramento and its immediate suburbs. Other

train stations in the Greater Sacramento area are Davis, Roseville, Rocklin,

Auburn, Colfax and Truckee.

6

Location overviewDollar General

1480 HIGHWAY 99, Gridley, CA

7

Location mapDollar General

1480 HIGHWAY 99, Gridley, CA

8

Location mapDollar General

1480 HIGHWAY 99, Gridley, CA

DEMOGRAPHIC SNAPSHOT

9

DemographicsDollar General

1480 HIGHWAY 99, Gridley, CA

Radius 1 Mile 3 Mile 5 Mile

Population:

2018 Projection 5,686 10,825 14,238

2013 Estimate 5,603 10,736 14,166

2010 Census 5,511 10,758 14,323

Growth 2013-2018 1.48% 0.83% 0.51%

Growth 2010-2013 1.67% -0.20% -1.10%

Households:

2018 Projection 1,913 3,640 4,786

2013 Estimate 1,883 3,611 4,762

2010 Census 1,850 3,626 4,825

Growth 2013 - 2018 1.59% 0.80% 0.50%

Growth 2010 - 2013 1.18% -1.13% -1.92%

Owner Occupied 1,036 2,200 3,015

Renter Occupied 847 1,410 1,747

2013 Avg Household Income $44,561 $52,650 $53,766

2013 Med Household Income $34,705 $38,157 $39,104

2013 Households by Household Inc:

<$25,000 709 1,209 1,577

$25,000 - $50,000 562 1,014 1,304

$50,000 - $75,000 305 517 698

$75,000 - $100,000 134 369 492

$100,000 - $125,000 115 292 386

$125,000 - $150,000 40 114 166

$150,000 - $200,000 10 56 84

$200,000+ 9 40 54

DOWNTOWN GRIDLEY, GRIDLEY, CA

SACRAMENTO SKYLINE, SACRAMENTO, CA