STORE CURRENTLY UNDER CONSTRUCTION
Double 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 Shrewsbury location will be a relocation site to replace an older Dollar General store that has strong sales. It is located on North Constitution Avenue, which is a main thoroughfare to connect Shrewsbury with the nearby town of New Freedom. 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, including roof and structural capital expenses.