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Dollar General, Vineland, NJ

Dollar General

Vineland, New Jersey

Price $2,461,000
Cap Rate 5.50%
NOI $135,326
Lease Term 15 Years
Lease Type Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years In Option Periods
Year Built 2022
Building Size 10,640 SF
Lot Size Contact For Details
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Andrew J. Schwartz
Director
973.292.4624
dollargeneral.nj@cushwake.com

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE WITH CORPORATE GUARANTY TO GROWING RETAIL TENANT
» New 15-year absolute NNN lease to growing retail tenant
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Fixed rent in the initial term with 10% rental increases every five (5) years in option periods, providing a hedge against inflation
» No landlord management, with the tenant responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» Ideal investment opportunity for an out-of-area investor
» High-quality 2022 upgraded construction with corner-entry

MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General’s annual revenue exceeds $34.2 billion
» Dollar General Ranked #91 on Fortune 500 list in 2021 (the 21-place jump into the Top 100 reflects the company’s exceptional growth)
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General operates more than 18,130 locations in 47 states and has plans for significant future growth

HIGH-QUALITY 2022 UPGRADED CONSTRUCTION WITH CORNERENTRY
» Strategic hard-corner location on North Main Road (22,073 AADT) and East Wheat Road (7,353 AADT), with excellent visibility at the signalized intersection
» Nearby tenants include Walgreens, Rite Aid, CVS Pharmacy, Family Dollar, McDonald’s, Dunkin’, and more
» Proximity to single and multi-family-developments, including Arbors on Main Apartments (157 units), Buena Terrace Apartments (70 units), and East Park Avenue Apartments (43 units)
» Minutes from well-attended schools including Marie Durand Elementary School (539 students), D’Ippolito Elementary School (566 students), Dr. JP Cleary School (309 students), and more
» Beneficial proximity to Philadelphia International Airport (serves over 33 million annual passengers)
» 65,160 residents within a five-mile radius
» Average annual household income of $94,206 within one mile (projected 34% increase by 2027)
» Gateway to Philadelphia (1.6 million residents) and Atlantic City (38,466 residents)


Property Description

» Dollar General is strategically located at the hard-corner signalized intersection of North Main Road and East Wheat Road with excellent visibility access to 29,426 vehicles per day
» The site is minutes from several well-attended schools including Marie Durand Elementary School (539 students), D’Ippolito Elementary School (566 students), Dr. JP Cleary School (309 students), and more
» The property is near many single and multi-family-developments including, Arbors on Main Apartments (157 units), Buena Terrace Apartments (70 units), and East Park Avenue Apartments (43 units)
» The location maintains beneficial proximity to Philadelphia International Airport which serves over 33 million passengers each year
» The site is centrally located 37 miles from Philadelphia (Pennsylvania’s most-populous city with 1.6 million residents) and 35.5 miles from Atlantic City (38,466 residents) a popular resort city on New Jersey’s Atlantic coast known for its many casinos, wide beaches, and an iconic Boardwalk and visited by over 27 million people annually
» 65,160 residents live within a five-mile radius with an average annual household income of $94,206 within one mile
» The community is poised for growth with average annual household incomes projected to increase 34 percent by 2027

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