ed breslin paul trupia iii - loopnet...• low rent of $7psf and very low price point for a new...
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843 Laney Walker Blvd. | Augusta, GA 30901
New York | F lo r ida | Ca l i fo rn ia
ED BRESLIN MANAGING DIRECTOR Broker License: 0 1 3 3 8 4 1 4 Office 310.774.3790 | Mobile 310.254.4177 | [email protected]
PAUL TRUPIA III MANAGING DIRECTOR Office 646.791.0818 | Mobile 914.774.5218 | [email protected]
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This Confidential Memorandum has been prepared by Kentwood Capital Advisors (“KCA”) and is being furnished to you solely for the purpose of your review of the commercial property located on 843 Laney Walker Blvd., Augusta, GA 30901 (the “Property”). The ma-terial contained in this Offering Memorandum shall be used for the purposes of evaluating the Property for acquisition and shall not be used for any purpose or made available to any other person without the express written consent of Kentwood Capital Advisors (“Broker”).
By accepting the Confidential Memorandum, you acknowledge and agree that: (1) all of the information contained herein and any other information you will be receiving in connection with this transaction, whether oral, written or in any other form (collectively, the “Materials”), is confidential; (2) you will not reproduce the Confidential Memorandum in whole or in part; (3) if you do not wish to pursue this matter, you will return this Confidential Memorandum to KCA as soon as practicable together with all other materials relating to the Property which you may have received from KCA; and (4) any proposed actions by you which are inconsistent in any manner with the foregoing agreements will require the prior written consent of KCA.
This Confidential Memorandum has been prepared by KCA, based upon certain information pertaining to the Property and any infor-mation obtained from KCA to assist interested parties in making their own evaluation of the Property is offered on a no representation or warranty provision other than customary warranties of title and is sold on an “as-is, where-is” basis and with all faults. The material and transaction does not purport to be all inclusive. This Confidential Memorandum contains descriptive materials, financial information and other data compiled for the convenience of parties interested in the Property. The Materials are being delivered by KCA to pro-spective investors with the understanding that it is not all inclusive and that it is qualified in its entirety by independent investigation by prospective investors of those matters which they deem appropriate in evaluating this offering without reliance upon KCA, the Broker or any of their respective affiliates or any of the information set out in the Materials. Neither KCA, the Broker, nor any of their respective affiliates have independently verified any of the information contained herein or in any of the Materials, and no representations or war-ranties as to the accuracy or completeness thereof or of any other kind whatsoever are made or intended and none should be inferred.
KCA, for itself and its affiliates of the Property, expressly disclaim any and all liability for statements or representations, express or im-plied, contained herein or for omissions from the Materials or for any other written, oral or other format of communication transmitted to a prospective investor in the course of its evaluation of the proposed transaction. All summaries and discussions of documentation and/or financial information contained herein are qualified in their entirety by reference to the actual documents and/or financial state-ments, which upon request may be made available. The terms and conditions described herein are subject to change without notice.
This Confidential Memorandum does not constitute an offer to accept any investment proposal but is merely a solicitation of interest with respect to the investment described herein. The Confidential Memorandum does not constitute an offer of security. The invest-ment described herein may be financed or withdrawn from the market, without prior notice. By accepting this Confidential Memo-randum you agree to release KCA and hold it harmless from any kind of claim, expense, or liability arising out of your discovery or purchase of the Property. KCA reserves the right to request the return of the Materials at any time. Ownership of the Property reserves the right to negotiate with one or more prospective investors at any time.
C O N F I D E N T I A L D I S C L A I M E R
o f f e r i n g m e m o r a n d u mDOLLAR TREE | AUGUSTA, GA | PAGE 3
I N V E S T M E N T H I G H L I G H T S
• New 5 year term with Dollar Tree with two five year options periods
• Backfill of an existing all Block 9,925 square Foot Building on large 1.15 acre parcel
• Low Rent of $7psf and very low price point for a new national dollar store location
• Exceptional going in yield given the credit worthiness of the Tenant
• Across the street from top performing Family Dollar Store
• Augusta is the principal city of the Augusta–Richmond County Metropolitan Statistical Area, which as of 2015 had an estimated population of 590,146, making it the second-largest metro area in the state after Atlanta
• 150 Miles East of Hartsfield – Jackson Atlanta International Airport and 7 miles north of the Augusta Regional Airport
• Excellent Visibility and Access along Laney Avenue on a large parcel with abundant parking.
• As of January 2017, Dollar Tree has revenues of over $20 billion, a net income of $890 million and a net worth in excess of $5 billion. Standard and Poor’s credit Rating of BB+
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o f f e r i n g m e m o r a n d u mDOLLAR TREE | AUGUSTA, GA | PAGE 4
E X E C U T I V E O V E R V I E W
Kentwood Capital Advisors is pleased to offer for sale to qualified in-vestors this 5-Year NN leased investment Dollar Tree store with fixed rent increases in all five, 5 year renewal options. The property is leased and guaranteed by Dollar Tree, Inc. (NYSE: DLTR). The company that has a current credit rating of BB+ by Standard and Poor’s and the net worth in excess of $5B and market cap of $21.74B.
This Dollar Tree store is a retrofit of an existing all block 9,925 building that was originally built in 1992. The tenant is paying very low rent in this newly retrofitted building. The property has strong demographics for a dollar store with over 100,000 residents and $51,000 average house in-come levels within a 5 mile radius. The location has excellent access and visibility and a plethora of parking due to its large 1.15 acre size parcel.
P R I C E
$771,944C A P
9.00%NOI
$69,475
representative photo
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9925 SF95 x 103
RETAILPROJECT
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ENTRY 95'
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o f f e r i n g m e m o r a n d u mDOLLAR TREE | AUGUSTA, GA | PAGE 5
L E A S E A B S T R A C T
I N C O M E
Address 843 Laney Walker Blvd. Augusta, GA 30901
Tenant Name Dollar Tree
Guarantor Dollar Tree Stores, Inc.
Offering Price $771,944
Cap Rate 9.00%
Property Type Dollar Store
Rentable SF 9,925 SF
Lot Size 1.15 Acres +/-
Annual Rent $69,475.00
Lease Term Remaining 5 Years
Lease Commencement Date April 2018
Lease Expiration Date May 2023
Option Periods Five (5) Five Year Options
Increases $0.50 Per Square Ft every 5 years.
Lease Type NN with Landlord responsible for roof, struc-ture and parking lot. (See Lease for details)
Years 1 - 5 $69,475.00
Year 6-10 (Option 1) $74,437.50
Year 11-15 (Option 2) $79,400.00
Year 16-20 (Option 3) $84,362.50
Year 21-25 (Option 4) $89,325.00
Year 26-30 (Option 5) $94,287.50
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o f f e r i n g m e m o r a n d u mDOLLAR TREE | AUGUSTA, GA | PAGE 6
T E N A N T O V E R V I E W
No. of Locations 13,000+
Stock Symbol DLTR (NYSE)
Revenue $20.72 Billion (2016)
S&P BB+
Headquarters Chesapeake, Virginia
Website www.dollartree.com
Dollar Tree, Inc. (NYSE: DLTR) is an American chain of discount variety stores that sells items for $1 or less. Headquartered in Chesapeake, Virginia, it is a Fortune 500 company and operates 14,744 stores[1] throughout the 48 contiguous U.S. states and Canada. Its stores are support-ed by a nationwide logistics network of eleven distribution centers. The company operates one-dollar stores under the names of Dollar Tree and Dollar Bills. The company also operates a multi-price-point variety chain under Family Dollar.
On July 6th, 2015, Dollar Tree (NASDAQ: “DLTR”) officially acquired Family Dollar for $8.5 billion. With this acquisition, the company has over 13,000 stores in 48 states and five Canadian prov-inces and sales of over $18 billion.
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o f f e r i n g m e m o r a n d u mDOLLAR TREE | AUGUSTA, GA | PAGE 7
L O C A T I O N O V E R V I E W
Located Approximately 2 Hrs. East of Downtown Atlana
Augusta–Richmond County is a consolidated city-county on the central eastern border of the U.S. state of Georgia, and located on the Savannah River, at the head of its navigable portion. It is in the Piedmont section of the state. The metro Augusta area is situated in both Georgia and South Carolina, which is divided by the Savannah River. Augusta-Richmond County had a 2016 estimated population of 197,082, making it the 120th largest city in the United States, not counting the unconsolidated cities of Hephzibah and Blythe, Georgia. Augusta is the principal city of the Augusta–Richmond County Metropolitan Statistical Area, which as of 2015 had an estimated population of 590,146, making it the second-largest metro area in the state after Atlanta. It is the 93rd largest MSA in the United States. Internationally, Augusta is best known for hosting The Masters golf tournament each spring. The Masters brings over 200,000 visitors from across the world to the Augusta National Golf Club, which
is approximately five miles from the subject property. Membership at Augusta National is widely considered to be the most exclusive in the sport of golf across the world. Augusta is approximately two hours east of downtown Atlanta by car utilizing I-20. Also nearby to the subject property is James Brown Arena, less than 1-Mile north of the site. The arena is a multi-purpose complex with 8,000 seats and a 14,500 Square Foot exhibit hall that opens into a 23,000 Square Foot arena hall.
Peachtree City
LawrencevilleJohns Creek
McDonough
Milledgeville
Stockbridge
Watkinsville
Thomaston
Shady Dale
Forest Park
Fayetteville
Woodstock
Statesboro
Dahlonega
Commerce
Union City
Gainesville
Covington
Monticello
East Point
Loganville
Kennesaw
Sugar Hill
Hinesville
Americus
Suwanee
Kathleen
NorcrossDoraville
Snellville
Conyers
Zebulon
Decatur
Smyrna
Monroe
Morrow
Roswell
Bonaire
Cordele
Canton
Winder
Lilburn
Dacula
McRae
Vidalia
Dublin
Pooler
Milton
Griffin
Byron
Jesup
Helen
Perry
Hilton Head Island
Saint Matthews
Moncks Corner
Kiawah Island
Bennettsville
Simpsonville
Summerville
Orangeburg
Chesterfield
Walterboro
McCormick
Winnsboro
Pine ValleyBishopville
Cherryvale
Darlington
Pendleton
Ridgeland
La France
Lancaster
Anderson
Newberry
Kingstree
Hampton
Edgefield
Hartsville
Bamberg
Allendale
Abbeville
Hanahan
Beaufort
Clemson
Manning
Barnwell
Camden
Laurens
Chester
Sumter
CentralSeneca
Chapin
Saluda
Fairfax
Cayce
Union
Aiken
Warner Robins
Augusta
Marietta
Alpharetta
Atlanta
Athens
Macon
Greenwood
Columbia
Florence
Charleston
Savannah
GEORGIA
SOUTH CAROLIN A
SITE
Located less than 1 Mile from Gordon Highway
27878
Located less than 1 Mile from James Brown Arena
o f f e r i n g m e m o r a n d u mDOLLAR TREE | AUGUSTA, GA | PAGE 8
Richard Algernon Dent Boulevard
Richard Algernon Dent Boulevard
Laney Walker Boulevard
Laney Walker Boulevard
Calhoun Expressway
Calhoun Expressway
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Telfair Street
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Broad Street
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RICHMOND SUPERIORCOURT CLERK
CHARLIE NORWOOD VA MEDICAL CENTER
843 Laney Walker Blvd. Augusta, GA 30901
M A R K E T A E R I A L
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843 Laney Walker Blvd. | Augusta, GA 30901
New York | F lo r ida | Ca l i fo rn ia
ED BRESLIN MANAGING DIRECTOR Broker License: 0 1 3 3 8 4 1 4 Office 310.774.3790 | Mobile 310.254.4177 | [email protected]
PAUL TRUPIA III MANAGING DIRECTOR Office 646.791.0818 | Mobile 914.774.5218 | [email protected]
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