family dollar 10300 dyer st el paso tx - loopnet...el paso, tx el paso is situated in the far...

F a m i l y D o l l a r10300 Dyer St , E l Paso, TX 79924O F F E R I N G M E M O R A N D U M

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Representative Photo

E XC LU S I V E LY L I S T E D BY

JOSH BISHOPVP & Director

[email protected] (214) 692-2289MOB (315) 730-6228LIC # 688810 (TX)

CHAD KURZSVP & National Director

[email protected] (214) 692-2927MOB (562) 480-2937LIC # 01911198 (CA)

KYLE MATTHEWSBroker of Record

LIC # 678067

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C O N T E N T S

4 INVESTMENT OVERVIEWInvestment Highl ights

6 FINANCIAL ANALYSISExecut ive SummaryAnnual ized Operat ing Data

8 TENANT OVERVIEWFami ly Dol lar Overview

1 0 PROPERTY OVERVIEWThe Offer ingSi te Descr ipt ionParcel MapTenant MapRegional Map

1 4 AREA OVERVIEWDemographics

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I N V E S T M E N T O V E R V I E W

4 | F a m i l y D o l l a r - E l P a s o , T X


M a t t h e w s R e a l E s t a t e I n v e s t m e n t S e r v i c e s | 5

I n v e s t m e n t H i g h l i g h t s• Ideal 1031 exchange property

• Newer 2015 construction

• 15-Year absolute NNN lease; Zero management responsibility

• Attractive CPI based rent increases every 3-years (including option periods); Great hedge against inflation

• Average return of 6.88% over base term of the lease; assuming a purchase at list price & 6% CPI rent increases

• Strong average traffic counts of over 11,000 vehicles daily on Dyer Street

• 3-mile demographics in excess of 75,000residents

• 5-mile demographics in excess of 104,000 residents

• Estimated population growth over approximately 4.64% over the next 5 years

• Strong average household incomes of $56,000 annually; Considered Family Dollar’s “Sweet-Spot”

• Family Dollar was recently acquired by Dollar Tree, Inc. and is now considered to be the nation’s “largest small-box discount retailer” with more than 13,000 locations nationwide

• Standard & Poor’s credit rating of BB+

F I N A N C I A L A N A L Y S I S




F a m i l y D o l l a r10300 Dyer St , E l Paso, TX 79924List Price ............................................................................................$1,823,967

CAP Rate - Current ................................................................................... 6.10%

Gross Leasable Area ...................................................................... ± 8,320 SF

Lot Size ...........................................................................................± 1.40 Acres

Year Built ....................................................................................................... 2015

Annualized Operating DataMonthly Rent Annual Rent Rent/SF

Years 1 - 3 $9,271.84 $111,262.08 $13.32

Years 4 - 6 $9,828.15 $117,937.80 $14.12

Years 7 - 9 $10,417.84 $125,014.07 $14.97

Years 10 - 12 $11,042.91 $132,514.92 $15.86

*Years 13 - 15 $11,705.48 $140,465.81 $16.82

Six (6) - Five (5) Year Options CPI Increases

Tenant Summary

Tenant Trade Name Family Dollar

Type of Ownership Fee Simple

Lease Guarantor Corporate

Lease Type NNN

Roof and Structure Tenant Responsible

Original Lease Term 15 years

Rent Commencement Date 6/11/2015

Lease Expiration Date 3/31/2030

Term Remaining on Lease + 13 years

Increases CPI Increases Every 3 Years (6% max)

Options Six (6), Five (5) Years

*Rent increases are calculated off of the max 6% (CPI Increases)

T E N A N T O V E R V I E W




Property Name Family Dollar

Property Type Net Leased Discount Store

Parent Company Trade Name Dollar Tree, Inc. (NASDAQ: DLTR)

Ownership Public

Credit Rating (S&P) BB+

Revenue $10.49 B

Net Income $285 M

No. of Locations ± 8,000

No. of Employees ± 60,000

Headquartered Matthews, North Carolina

Website www.familydollar.com

Year Founded 1986

TENANT OVERVIEW

When it comes to getting value for everyday items for the entire family in an easy to shop, neighborhood location, Family Dollar is the best place to go. One of the nation’s fastest growing retailers, Family Dollar offers a compelling assortment of merchandise for the whole family ranging from household cleaners to name brand foods, from health and beauty aids to toys, from apparel for every age to home fashions, all for everyday low prices. While shoppers can find many items at $1 or less, most items in the store are priced below $10, which makes shopping fun without stretching the family budget.

GEOGRAPHIC OUTREACH

Family Dollar serves families in more than 8,000 neighborhoods in 46 states. Texas is its largest market with 1,027 stores, followed by Florida with 584 stores. The Dollar Tree merger with Family Dollar now creates a combined organization with sales exceeding $19 billion annually with more than 13,600 stores across 48 states and five Canadian Provinces. The merger has allowed Family Dollar to grow offering broader, more compelling merchandise assortments, with greater values, to a wider array of customers.

STRATEGY

Family Dollar offers a compelling mix of merchandise for the whole family. Ranging from an expanded assortment of refrigerated and frozen foods and health and beauty items to home décor and seasonal items, Family Dollar offers the lowest possible price, the name brand and quality private-brand merchandise customers need and use every day.

P R O P E R T Y O V E R V I E W

1 0 | F a m i l y D o l l a r - E l P a s o , T X


M a t t h e w s R e a l E s t a t e I n v e s t m e n t S e r v i c e s | 1 1

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T h e O f f e r i n gProperty Name Family Dollar

Property Address 10300 Dyer St

El Paso, TX 79924

Assessor’s Parcel Number P448-999-0020-3900

Zoning R4

Site DescriptionNumber of Stories One

Year Built 2015

Gross Leasable Area (GLA) ± 8,320 SF

Lot Size ± 1.40 Acres (60,984 SF)

Type of Ownership Fee Simple

Parking ± 30 Surface Spaces

Parking Ratio 3.61 : 1,000 SF

Landscaping Professional

Topography Generally Level

ConstructionFoundation Concrete

Framing Steel

Exterior Brick / Metal

Parking Surface Asphalt

Roof Slightly Pitched

P a r c e l M a p

Dyer St ± 11,000 ADT

Te n a n t M a p

SUBJECT PROPERTY



R e g i o n a l M a p

SUBJECT PROPERTY

A R E A O V E R V I E W



E l P a s o , T XEl Paso is situated in the far western corner of the US state of Texas. El Paso stands on the Rio Grande river across the Mexico-United States Border from Ciudad Juarez, the largest city in the Mexican state of Chihuahua. The two cities along with Las Cruces in the neighboring state of New Mexico, form a combined international metropolitan area sometimes referred to as the Paso del Norte region. The region of over 2.7 million people constitutes the largest bilingual and binational work force in the Western Hemisphere.

The city is the headquarters of one Fortune 500 and three publicly traded companies, as well as home to the Medical Center of the Americas., the only medical research and care provider complex in West Texas and Southern New Mexico, and the University of Texas at El Paso, the city’s primary university. The city hosts the annual Sun Bowl college football post-season game, the second oldest bowl game in the country.

El Paso has a strong federal and military presence. William Beaumont Army Medical Center, Biggs Army Airfield, and Fort Bliss call the city home. Fort Bliss is one of the largest military complexes of the United States Army and the largest training area in the United States. Also headquartered in El Paso are the DEA domestic field division 7, El Paso Intelligence Center, Joint Task Force North, U.S. Border Patrol El Paso Sector, and U.S. Border Patrol Special Operations Group (SOG).

There is plenty to see and do in the City of El Paso. Experience walking tours of Downtown to get a taste of history that spans 400 years, shopping, outdoor concerts at the Chamizal National Memorial, museums of every kind, the Zoo, and nature hikes through four Texas State Parks. El Paso has been ranked the safest large city in the U.S. for four consecutive years and ranked in the top three since 1997.

D e m o g r a p h i c s

Population 1 Mile 3 Mile 5 Mile2022 Projection 16,593 78,637 109,516

2017 Estimate 15,857 75,074 104,841

2010 Census 15,316 72,067 100,353

Growth 2017 - 2022 4.64% 4.75% 4.46%

Growth 2010 - 2017 3.53% 4.17% 4.47%

Growth 2000 - 2010 8.80% 14.54% 13.52%

Households 1 Mile 3 Mile 5 Mile

2022 Projection 5,659 27,629 38,397

2017 Estimate 5,357 26,113 36,377

2010 Census 5,030 24,373 33,873

Growth 2017 - 2022 5.64% 5.80% 5.55%

Growth 2010 - 2017 6.50% 7.14% 7.39%

Income 1 Mile 3 Mile 5 Mile

2017 Est. Average House-hold Income

$47,736 $57,364 $56,420

E d u c a t i o n

El Paso is home to the University of Texas at El Paso, the largest public university in the region. UTEP was recently ranked as the 7th best university in Washington Monthly’s 2013 National University Rankings, just behind Stanford and ahead of Harvard. Also, the university’s School of Engineering is the nation’s top producer of Hispanic engineers with M.S. and Ph.D. degrees. El Paso is also home to Texas Tech University Health Sciences Center at El Paso, Paul L. Foster School of Medicine, Texas Tech College of Architecture at El Paso, Brightwood College, Park University, Webster University and the University of Phoenix. Also due to its proximity, many El Paso students attend New Mexico State University where the school offers in-state tuition to El Paso County residents.

E c o n o m y

El Paso has a diversified economy focused primarily within international trade, military, government civil service, oil and gas, health care, tourism and service sectors. The El Paso metro area had a GDP of $29 billion in 2011. Over the past 15 years the city has become a significant location for American-based call centers. El Paso has added a significant manufacturing sector with items and goods produced that include petroleum, metals, medical devices, plastics, machinery, defense-related goods and automotive parts. The city is the second busiest international crossing point in the U.S behind San Diego. Tourism is another major industry in El Paso, bringing in $1.5 billion-a-year and over 2.3 million visitors annually due to the city’s sunny weather, natural beauty, rich cultural history and many outdoor attractions.



To u r i s m a n d C u l t u r a l A m e n i t i e sThere are many museums to visit, including the El Paso Museum of History, and the El Paso Holocaust Museum and Study Center. El Paso is a host for art and culture as well, there are a number of theaters to visit. There is the Abraham Chavez Theatre that welcomes patrons with a three-story-high glass-windowed entry and unique sombrero-shaped architecture, making it a distinct feature on El Paso’s southwestern landscape. The Plaza Theatre is a historic building and stands as one of the city’s most well-known landmarks. It shows various Broadway productions, musical concerts, and individual performers. While the art and culture draws some, the rock climbers who descend on El Paso have only one thing in mind: scaling the massive boulders of Hueco Tanks State Park. Those who prefer the ground can wander through the park’s interpretive center and see ancient Indian pictographs.

This Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of Family Dol lar located at 10300 Dyer St, El Paso, TX (“Property”) . I t has been prepared by Matthews Real Estate Investment Services. This Offer ing Memorandum may not be al l - inclusive or contain a l l of the informat ion a prospect ive purchaser may desire. The informat ion contained in th is Offer ing Memorandum is conf ident ia l and furnished solely for the purpose of a review by a prospect ive purchaser of the Property. I t is not to be used for any other purpose or made avai lable to any other person without the wri t ten consent of Sel ler or Matthews Real Estate Investment Services. The mater ia l is based in part upon informat ion suppl ied by the Sel ler and in part upon f inancial informat ion obtained from sources i t deems rel iable. Owner, nor their of f icers , employees, or agents makes any representat ion or warranty, express or impl ied, as to the accuracy or completeness of th is Offer ing Memorandum or any of i ts contents and no legal l iabi l i ty is assumed or shal l be impl ied with respect thereto. Prospect ive purchasers should make their own project ions and form their own conclusions without rel iance upon the mater ia l contained herein and conduct their own due di l igence.

By acknowledging your receipt of th is Offer ing Memorandum for the Property, you agree:

1 . The Offer 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 ictest of conf idence; and

3. You wi l l not , d i rect ly or indirect ly, d isclose or permit anyone else to disclose this Offer ing Memorandum or i ts contents in any fashion or manner detr imental to the interest of the Sel ler.

Owner and Matthews Real Estate Investment Services expressly reserve the r ight , at their sole discret ion, to reject any and al l expressions of interest or of fers to purchase the Property and to terminate discussions with any person or ent i ty reviewing this Offer ing Memorandum or making an of fer to purchase the Property unless and unt i l a wr i t ten agreement for the purchase and sale of the Property 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 Property or in the future you discont inue such negot iat ions, then you agree to purge al l mater ia ls relat ing to th is Property including this Offer ing Memorandum.

A prospect ive purchaser ’s sole and exclusive r ights with respect to th is prospect ive t ransact ion, the Property, or informat ion provided herein or in connect ion with the sale of the Property shal l be l imited to those expressly provided in an executed Purchase Agreement and shal l be subject to the terms thereof. In no event shal l a prospect ive purchaser have any other c la ims against Sel ler or Matthews Real Estate Investment Services or any of their af f i l iates or any of their respect ive of f icers , Directors , shareholders, owners, employees, or agents for any damages, l iabi l i ty, or causes of act ion relat ing to th is sol ic i tat ion process or the market ing or sale of the Property.

This Offer ing Memorandum shal l not be deemed to represent the state of af fa i rs of the Property or const i tute an indicat ion that there has been no change in the state of af fa i rs of the Property s ince the date this Offer ing Memorandum.

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

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E XC LU S I V E LY L I S T E D BY

F a m i l y D o l l a r10300 Dyer St , E l Paso, TX 79924

O F F E R I N G M E M O R A N D U M

JOSH BISHOPVP & Director

[email protected] (214) 692-2289MOB (315) 730-6228LIC # 688810 (TX)

CHAD KURZSVP & National Director

[email protected] (214) 692-2927MOB (562) 480-2937LIC # 01911198 (CA)

KYLE MATTHEWSBroker of Record

LIC # 678067

11-2-2015

TYPES OF REAL ESTATE LICENSE HOLDERS: A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker. A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): Put the interests of the client above all others, including the broker’s own interests; Inform the client of any material information about the property or transaction received by the broker; Answer the client’s questions and present any offer to or counter-offer from the client; and Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary: Must treat all parties to the transaction impartially and fairly; May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and

buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction. Must not, unless specifically authorized in writing to do so by the party, disclose:

ᴑ that the owner will accept a price less than the written asking price;ᴑ that the buyer/tenant will pay a price greater than the price submitted in a written offer; andᴑ any confidential information or any other information that a party specifically instructs the broker in writing not to

disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: The broker’s duties and responsibilities to you, and your obligations under the representation agreement. Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Information About Brokerage Services Texas law requires all real estate license holders to give the following information about

brokerage services to prospective buyers, tenants, sellers and landlords.

.

Designated Broker of Firm License No. Email Phone

Licensed Supervisor of Sales Agent/Associate

License No. Email Phone

Licensed Broker /Broker Firm Name or Primary Assumed Business Name

License No. Email Phone

Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov IABS 1-0

Date Buyer/Tenant/Seller/Landlord Initials

Sales Agent/Associate’s Name License No. Email Phone

Kyle Matthews 678067 [email protected] 866-889-0550

Kyle Matthews

Kyle Matthews

678067

678067

[email protected]

[email protected]

866-889-0550

866-889-0550

family dollar 10300 dyer st el paso tx - loopnet...el paso, tx el paso is situated in the far...

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