11
Family Dollar 823 E. Washington St. | Suffolk, VA

Family Dollar - LoopNet · Tenant: Family Dollar Stores of Virginia, Inc. Dollar Tree, a Fortune 200 Company which acquired Family Dollar in July, 2015, now operates more than 15,000

  • Upload
    others

  • View
    5

  • Download
    0

Embed Size (px)

Citation preview

Page 1: Family Dollar - LoopNet · Tenant: Family Dollar Stores of Virginia, Inc. Dollar Tree, a Fortune 200 Company which acquired Family Dollar in July, 2015, now operates more than 15,000

Family Dollar

823 E. Washington St. | Suffolk, VA

Page 2: Family Dollar - LoopNet · Tenant: Family Dollar Stores of Virginia, Inc. Dollar Tree, a Fortune 200 Company which acquired Family Dollar in July, 2015, now operates more than 15,000

FOR FURTHER INFORMATION

Joe Boydoffice 843.722.9925 x 21mobile 843.906.7751web [email protected]

125-GWappooCreekDriveCharleston,SC29412

phone (843)722.9925fax (843)722.9947web twinriverscap.com

LocatorMap .................................................................. 3

HighAerial .....................................................................4

MidAerial ......................................................................5

SiteAerial ...................................................................... 6

SitePlan ........................................................................7

PropertyInformation ....................................................8

Tenant&LeaseInformation ........................................9

Financials .................................................................... 10

AboutUs ...................................................................... 11

Table of Contents

823 E. Washington St.Suffolk, VA

Page 3: Family Dollar - LoopNet · Tenant: Family Dollar Stores of Virginia, Inc. Dollar Tree, a Fortune 200 Company which acquired Family Dollar in July, 2015, now operates more than 15,000

Locator Map

SUFFOLK,VA

Page 4: Family Dollar - LoopNet · Tenant: Family Dollar Stores of Virginia, Inc. Dollar Tree, a Fortune 200 Company which acquired Family Dollar in July, 2015, now operates more than 15,000

High Aerial

SITE

A&A’sMarket

AndrewBrownElementary

NeighborhoodMarket

FarmerJoe’s

SuffolkHighSchool

Red Barn Food

SunocoPaper

KraftFoods

WashingtonElementaryandHighschool

EasyFoodMart

EastSuffolkElementary

Willie’sGrocery

JFKMiddleSchool

NeighborhoodMarket

Page 5: Family Dollar - LoopNet · Tenant: Family Dollar Stores of Virginia, Inc. Dollar Tree, a Fortune 200 Company which acquired Family Dollar in July, 2015, now operates more than 15,000

Mid Aerial

Church

Church

ChurchChurch

Church

Church

Church

Church

Church

Church

Church

Church

Church

SuffolkHighSchool

Red Barn Food

KraftFoods

SuffolkHealthDepartment

ElementaryandHighSchool

EasyFoodMart

A&A’sMarket

EastSuffolkElementary

Willie’sGrocery

SITE

Page 6: Family Dollar - LoopNet · Tenant: Family Dollar Stores of Virginia, Inc. Dollar Tree, a Fortune 200 Company which acquired Family Dollar in July, 2015, now operates more than 15,000

Site Aerial

ElementaryandHighSchool

A&A’sMarket

TaxServiceFriedChickenShop

BarberShop

Church

AutoService

AutoService

CarpetStoreGas N Go

Church

ChurchChurch

Church

Apartments

SITE

WhiteM

arshRd2,300VPD

EWashingtonSt1

2,427VPD

Page 7: Family Dollar - LoopNet · Tenant: Family Dollar Stores of Virginia, Inc. Dollar Tree, a Fortune 200 Company which acquired Family Dollar in July, 2015, now operates more than 15,000

Site Plan

Page 8: Family Dollar - LoopNet · Tenant: Family Dollar Stores of Virginia, Inc. Dollar Tree, a Fortune 200 Company which acquired Family Dollar in July, 2015, now operates more than 15,000

PropertyandLocationHighlightsSUFFOLK,VASuffolk is located in the Hampton Roads metropolitan area which also includes the independent cities of Chesapeake, Hampton, Newport News, Norfolk, Portsmouth, and Virginia Beach.

Suffolk has historically been a major peanut processing center and railroad and highway transportation hub. The city hosts a diverse combination of industrial, manufacturing, distribution, retail, and hospitality businesses, as well as active farming.

Planters’ Peanuts is a major employer. Other large employers in Suffolk include Unilever, Lipton Tea, WalMart, Target, QVC, and two major modeling and simulation companies, Lockheed Martin and Raytheon. Suffolk is the site of Lockheed Martin’s “Center for Innovation”.

The Naval Network Warfare Command, NNWC Global Network Operations Center Detachment, Navy Cyber Defense Operations Command, and Navy Cyber Forces are a boon to north Suffolk, bringing an estimated 1,000 additional employees, including military, civilians and contractors, with an estimated annual payroll of $88.9 million.

> RARE 15 YEAR NNN LEASE> APPROX. 1.7 ACRES> 9,180 SF (LARGER THAN PROTOTYPICAL STORE DUE TO HIGH SALES PROJECTIONS)> 10% RENT INCREASE DURING INITIAL TERM> RETAIL DISTRICT SURROUNDED BY RESIDENTIAL AREAS> DENSE URBAN INFILL LOCATION | HIGH BARRIER TO ENTRY> HIGH TRAFFIC COUNTS (VPD = 12,427)> SITE AT THE SIGNALIZED INTERSECTION OF WHITE MARSH AND E. WASHINGTON> GREAT VISIBILITY (CORNER OF FORK)

> DEMOGRAPHICS 1 Mile 3 Mile

Population 10,618 27,039

Average HHI 43,420 53,942

Property Information

Page 9: Family Dollar - LoopNet · Tenant: Family Dollar Stores of Virginia, Inc. Dollar Tree, a Fortune 200 Company which acquired Family Dollar in July, 2015, now operates more than 15,000

LEASEINFORMATION> Initial lease term of 15 years

> Six 5-year options increasing at 10% each option period

> 10% bump in year 11

Tenant & Lease Information

TENANTPROFILE

Tenant: Family Dollar Stores of Virginia, Inc.

Dollar Tree, a Fortune 200 Company which acquired Family Dollar in July, 2015, now operates more than 15,000 stores across 48 states and five Canadian prov-inces. Stores operate under the brands of Dollar Tree, Dollar Tree Canada, Deals and Family Dollar.

Dollar Tree is the nation’s leading operator of fixed price-point stores, selling everything for $1 or less, and Family Dollar is a leading national operator of multi price-point stores providing value-conscious consumers with a selection of com-petitively priced merchandise in convenient neighborhood stores. The Company intends to retain and to grow both banners going forward and will optimize the combined real estate portfolio.

> Dollar Tree reported $5.64 billion in net sales in its most recent quarter> The combined Dollar Tree and Family Dollar company operates more than 15,000 stores nationwide, making it the largest dollar-store chain in the U.S. by store count> The combined company has sales of over $19 billion a year

> Family Dollar continues as a wholly-owned subsidiary of Dollar Tree

NYSE: DLTR

Page 10: Family Dollar - LoopNet · Tenant: Family Dollar Stores of Virginia, Inc. Dollar Tree, a Fortune 200 Company which acquired Family Dollar in July, 2015, now operates more than 15,000

Financials

Rent Roll Tenant: Family Dollar Stores of Virginia, Inc. Guarantor: Family Dollar Stores, Inc. NNN Lease 823 E. Washington St. Suffolk, VA

Price SummaryPrice $1,872,733Cap Rate 6.0% NOI $112,364 (years 1-10) $123,601 (years 11-15)

TENANT BUILDINGSQ FT

LEASE START/EXPIRATION

RENT PERSQ FT

MONTHLYRENT

ANNUALRENT OPTIONS

Family Dollar 9,180SF

January, 2018 /9/30/2032

Years 1 – 10:$12.24

Years 11 – 15:$13.46

Years 1 – 10: $9,363.68

Years 11 – 15: $10,300.05

Years 1 – 10: $112,364.16

Years 11 – 15: $123,600.60

Six 5-year options

increasing at 10%each

optionperiod

Page 11: Family Dollar - LoopNet · Tenant: Family Dollar Stores of Virginia, Inc. Dollar Tree, a Fortune 200 Company which acquired Family Dollar in July, 2015, now operates more than 15,000

TRC provides national retailers with a comprehensive solution for growing their business by developing new locations.

TWINRIVERSCAPITAL,LLC

Twin Rivers Capital, LLC is a privately held real estate investment, development and brokerage company, founded in 2002 and headquartered in Charleston, SC. Focusing on the growth regions of the Southeastern US, TRC provides national retailers with a comprehensive solution for adding new locations. TRC has developed more than 1.2 million SF of real estate with values in excess of $180 million. TRC also handles third party brokerage, including tenant and landlord representation and investment brokerage services in FL, GA, SC, NC, VA, TN and AL.

BuildtoSuit•JVPrograms•PreferredDeveloperforNationalRetailersBrokerage•FeeDevelopmentPrograms

FAMILY DOLLARAUTOZONE

MCDONALD’SVERIZON

WALMARTSHERWIN WILLIAMS

DICK’SAT&T

HOBBY LOBBYSTARBUCKS

DOLLAR TREEEDWARD JONES

About Us

ClientRoster

YOURTWINRIVERSCAPITALCONTACT

Joe BoydJoe is responsible for all property and asset management and is also involved in property sales.

With over 25 years of experience in property management, Joe has served as Property Manager for numerous lifestyle centers and super-regional malls, including properties held by Madison Marquette Realty Services, CBL Properties and The Jacobs Group.

Joe received his Bachelor’s Degree from Grove City College and his MBA from Indiana University of Pennsylvania. He received his CSM in 1995, his CMD in 1997 and his SC Realtor’s License in 2008.

OFFICE 843.722.9925 X 21MOBILE 843.906.7751EMAIL [email protected] twinriverscap.com