STORE CURRENTLY UNDER CONSTRUCTION
Triple Net Lease with investment grade tenant expires July 2032.
Dollar General (NYSE: DG) is rated BBB- by S&P. Dollar General Corporation guarantees the lease payments and tenant’s obligations.
This Allenwood location will be a new location for Dollar General, however the nearby population demographics strongly correlate with Dollar General’s target market. It is located on U.S. Route 15, which is the main thoroughfare through town and has no nearby competitors. This location is a new build-to-suit store and has a targeted opening date for July 2017. The current lease term expires in 2032, but there are two 5-year options and one 4-year and 11 month option to renew with 10% rent increases.
The net lease terms call for minimal landlord responsibilities, as the tenant is responsible for the all components of the building.