representative photo dollar general · demographics report ..... 13 chad kurz managing partner...

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R E T A I L A D V I S O R SOFFERING MEMORANDUM

DOLLAR GENERAL 2319 DELAWARE DR, MT. BETHEL, PA 18343

REPRESENTATIVE PHOTO

Matthews Retail Advisors

CONFIDENTIALITY & DISCLAIMER STATEMENT

This Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of Dollar General located at 2319 Delaware Dr, Mt. Bethel, PA 18343 (“Property”) . I t has been prepared by Matthews Retai l Advisors . 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 Retai l Advisors . 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 Retai l Advisors 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 Retai l Advisors 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.

EXCLUSIVELY LISTED BY:

Table of Contents

PRICING & FINANCIAL ANALYSISInvestment Overview ..................................................................... 2Investments Highlights.................................................................. 2Executive Summary.........................................................................3Company Overview .......................................................................4

PROPERTY DESCRIPTION Physical Description .......................................................................7Birds Eye ........................................................................................... 8Regional Map ................................................................................... 9Aerial Map .......................................................................................10

DEMOGRAPHICS City Overview | Mt. Bethel, PA .................................................. 12Demographics Report .................................................................. 13

Chad KurzManaging Partner DIRECT +1.310.919.5850 MOBILE +1.562.480.2937 [email protected] License No. 01911198

Josh BishopSenior Associate DIRECT +1.310.919.5823 MOBILE +1.315.730.6228 [email protected] License No. 01940394

™

Calvin ShortPartner DIRECT +1.310.919.5770 MOBILE +1.310.567.3525 [email protected] License No. 01927216

David B. ZachariaBroker of Record License No. RM422281

DZ Net Lease Realty, LLC

License No. RB067686

Matthews Retail Advisors


Pricing & Financial Analysis

REPRESENTATIVE PHOTO ™

OFFERING MEMORANDUM | Dollar GeneralP. 2 Matthews Retail Advisors

PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS


Investment Highlights

• Ideal 1031 Exchange Property

• Brand New 2015 Construction

• 15 Year Absoulte NNN Lease

• No Management Responsibility

• 10% Rent Increases in Options

• ±12,500 Residents Within 5-Mile Radius

• Corporate Guaranteed Lease

• The Only Investment Grade Credit Dollar Store

• Fortune 500 Company


Matthews Retail Advisors P. 3Dollar General | OFFERING MEMORANDUM



Executive Summary

DOLLAR GENERAL2319 DELAWARE DR MT. BETHEL, PA 18343

List Price ...............................................................................................$1,791,145CAP Rate - Current ...................................................................................6.55%Gross Leasable Area ........................................................................ 9,026 SFLot Size ...................................................................... 1.50 Acres (65,340 SF)Year Built ....................................................................................................... 2015

Annualized Operating DataMonthly Rent Annual Rent Rent/SF

Current - 7/31/2030 $9,776.67 $117,320.04 $13.00

Option 1 - 7/31/2035 $10,754.34 $129,052.04 $14.30

Option 2 - 7/31/2040 $11,829.77 $141,957.25 $15.73

Option 3 - 7/31/2045 $13,012.75 $156,152.97 $17.30

Tenant Summary

Tenant Trade Name Dollar General

Type of Ownership Fee Simple

Lease Guarantor Corporate

Lease Type NNN

Roof and Structure Tenant Responsible

Original Lease Term 15 Years

Rent Commencement Date 7/12/2015

Lease Expiration Date 7/31/2030

Term Remaining on Lease 14.25 Years

Increases 10% In Options

Options (3) Three - 5 (Five) Year




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

Gross Leasable Area 9,026 SF

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

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Physical Description

THE OFFERING

Property Name ............................................................................... Dollar General

Property Address ....................................................................2319 Delaware Dr

Mt. Bethel, PA 18343

SITE DESCRIPTION

Number of Stories .............................................................................................One

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

Gross Leasable Area (GLA) ................................................................... 9,026 SF

Lot Size............................................................................. 1.50 Acres (65,340 SF)

Type of Ownership ...............................................................................Fee Simple

Landscaping ........................................................................................Professional

Topography ................................................................................... Generally Level

CONSTRUCTION

Foundation .......................................................................................Concrete Slab

Exterior ................................................................................................ Block / Metal

Parking Surface ............................................................................................Asphalt




Birds Eye



Regional Map



Aerial Map

Demographics

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

Mount Bethel is an unincorporated community in Upper Mount Bethel Township in Northampton County, located along Pennsylvania Route 611 north of the intersection with Pennsylvania Route 512.

Northampton began as a farming community, with just a few settlements near crossroads or mills. Not until the late 1800’s, did retired farmers decide to build homes “in town.” Life was never dull for farmers or their counterparts on the farm. Activities included big political parades and Memorial Day parades to the local cemetery, church and school picnics, serenades of banging pots and pans at the homes of newlyweds, carni-vals and dinners at the firehouse, chautauquas when people gathered to enjoy plays, reading poetry, and listen to and partake in discussions, and of course, the trips to and competition in the county fairs.

Today, many landmarks have changed or disappeared, and new activi-ties have replaced the old. Even though the landscape looks very differ-ent from the birth of the Township, Northampton has remained a great place to live and call home. Many of Northampton’s farms have become housing developments and the township is currently the home of 40,000 inhabitants who enjoy its free library, senior center, parks, nature center, golf courses, athletic fields and shopping centers.

City Overview | Mt. Bethel, PA



Demographics ReportPopulation 3-Mile 5-Mile 10-Mile2020 Projection 5,727 12,503 87,2942015 Estimate 5,598 12,422 89,1782010 Census 5,461 12,372 91,9432000 Census 4,706 11,176 85,202Growth 2000 - 2010 16.04% 10.70% 7.91%Growth 2010 - 2015 2.51% 0.40% -3.01%Growth 2015 - 2020 2.30% 0.65% -2.11%

Households2020 Projection 303 2,213 4,6982015 Estimate 306 2,164 4,6742010 Census 309 2,111 4,6642000 Census 289 1,828 4,242Growth 2000 - 2010 15.52% 9.96% 8.21%Growth 2010 - 2015 2.51% 0.21% -2.77%Growth 2015 - 2020 2.24% 0.51% -2.12%

IncomeIncome < $15,000 8.09% 7.93% 9.67%Income $15,000 - $24,999 7.97% 6.86% 9.66%Income $25,000 - $34,999 8.03% 9.00% 10.17%Income $35,000 - $49,999 16.16% 15.09% 13.64%Income $50,000 - $74,999 22.81% 22.43% 19.50%Income $75,000 - $99,999 11.90% 12.21% 13.60%Income $100,000 - $124,999 10.50% 10.39% 9.42%Income $125,000 - $149,999 4.39% 5.96% 6.01%Income $150,000 - $199,999 7.53% 6.58% 4.94%Income $200,000 - $249,999 1.41% 1.62% 1.41%Income $250,000 - $499,999 1.14% 1.67% 1.69%Income $500,000+ 0.08% 0.27% 0.30%2015 Est. Average Household Income $74,589 $77,784 $73,1652015 Est. Median Household Income $60,696 $62,398 $58,786

Matthews Retail Advisors | 841 Apollo Street, Suite 150 | El Segundo, CA 90245 | www.Matthews.com

DOLLAR GENERAL2319 Delaware DrMt. Bethel, PA 18343OFFERING MEMORANDUM

David B. ZachariaBroker of Record License No. RM422281

DZ Net Lease Realty, LLC

License No. RB067686

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 +1.562.480.2937 [email protected] License No. 01911198

™

Josh BishopSenior Associate DIRECT +1.310.919.5823 MOBILE +1.315.730.6228 [email protected] License No. 01940394

representative photo dollar general · demographics report ..... 13 chad kurz managing partner...

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