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Published by rcomstock, 2019-07-16 12:09:25

Meridian Family Dollar

Meridian Family Dollar

ACTUAL SITE
MERIDIAN, MS

Offering Memorandum

FAMILY DOLLAR | NNN LEASE | 6.6% CAP RATE

MERIDIAN, MS

TABLE OF CONTENTS

Nancy Miller, CCIM, MBA ����������������� 8
President, Net Lease Investment Group ������������������ 9
[email protected] ���������������� ���� :
404-876-1640 x118 ;
��������� <
Broker of Record ������������ =
Michael Bull, CCIM ������������ >
Bull Realty, Inc. 65
MS License #19258 ���������� 66
������� ������ 67
Bull Realty, Inc. ��������������� 68
50 Glenlake Parkway, Suite 600 ��������������
Atlanta, GA 30328
BullRealty.com ����������

�1�%.,"/�%2�%",-����2��.%%����%-2B��'�C Page 2 of 13

EXECUTIVE SUMMARY FA M I LY D O L L A R N E T L E A S E I N V E STM E N T | 6 . 6 % C A P R AT E

OFFER HIGHLIGHTS DEMOGRAPHICS 1 Mile 3 Miles 5 Miles

�!� ��&"%2 �(%%�+ %(��-�� "' ��+"�"�'B ��B ", � -+.� 6: 2��+ ��� %��,�� Total Population: <B6>; 86B787 97B6<>
)+()�+-2C �."%- "' 756:B -!� %��,� !�, � +�+� %��,� ,-+.�-.+� 0"-! ���
"'�+��,�, �/�+2 -!+�� 2��+,B '(- -( �1���� ;KC �- �%,( !�, ,"1 :I2��+ Total Households: 7B<<6 67B7>: 6;B>97
+�'�0�% ()-"(',C �!� 4+,- ��#.,-&�'- "' 756= 2"�%��� � ;K "'�+��,� "' Average HH Income: J7>B67=
+�'-C �!�+� �+� '( ��'�%(+� +�,)(',"�"%"-"�, &�$"' -!� ��'�'- +�,)(',"�%� J96B9:8 J:6B=7;
�(+��%%�-�1�,B�"',.+�'��B�+�)�"+,�N�&�"'-�'�'��C AREA OVERVIEW
?��(.+��A�������'�������',.,��.+��.
�!� =B875 �� ,-(+� 0�, +�%(��-�� �'� ", '(0 ,"-.�-�� (' � M 6C6=I��+� ,"-�C
�!� ,-(+� ", %(��-�� �- � ," '�%"3�� �(+'�+ 0"-! -+��4� �(.'-, �/�+� "' �!� �"-2 (� ��+"�"�'B %(��-�� "' ��.��+��%� �(.'-2B ", -!� ;-! %�+ �,- �"-2 "'
69B555 ���C �!", ,-(+� &��-, -!� "���% ��&( +�)!"�, �(+ � %(' -�+& �",,",,"))" 0"-! � )().%�-"(' (� (/�+ <:B555C �"-! ��,� (� ����,, -(
,.���,,�.%���&"%2��(%%�+�%(��-"('C ��+"�"�'B "- �--+��-, � %��(+ �(+�� +�' "' ;: &"%�, "' +��".,C ��#(+
�&)%(2�+, "' -!� �+�� "'�%.�� ��/�% �"+ �-�-"(' ��+"�"�'B �.,! ��%-!
@ 66L 2��+, +�&�"'"' (' 6: 2��+ -+.� ��� %��,� 0"-! ,"1 : 2��+ +�'�0�% �2,-�&,B �'��+,(' �� "('�% ��%-! �2,-�&B �� �"+ ��-"('�% �.�+�B
()-"(', ��%&�+-B �/�+2 �+(�.�-,B �-%�, �((4' �'� &(+�C ��+"�"�' ", %(��-�� "'
��,-�+' ��B '��+ -!� �� �(+��+ �, � �+(,,+(��, (� �'-�+,-�-� 75 �'�
@ ��+� ��&"%2 �(%%�+ %��,� 0"-! ��� ��#.,-&�'-, -( +�'- �/�+2 8 2��+, �'� �'-�+,-�-� :>C �- ", �))+(1"&�-�%2 655 &"%�, ��,- (� ���$,('B -!� ,-�-� ��)"-�%
"'�()-"('�)�+"(�, �'����(.-�655�&"%�,��+(&��.,��%((,�B���C

@ �!", �(0'-(0' ��+"�"�' %(��-"(' ", �- � ," '�%"3�� �(+'�+ 0"-! 69�L
/�!"�%�,�)�+���2

@ �(���'�%(+��+�,)(',"�"%"-"�,
@ �(+)(+�-�� .�+�'-�����2���&"%2��(%%�+
@ �1��%%�'-��(+�6586��1�!�' �
@ ��%(��-���%(��-"('
@ Offered at $1,725,000 or a 6.6% cap rate

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).+�!�,��(���+�(+�0"-!"'��'��))%"���%���.���"%" �'���)�+"(�C

FINANCIAL OVERVIEW

FA M I LY D O L L A R N E T L E A S E I N V E STM E N T | 6 . 6 % C A P R AT E

PROPERTY & LEASE INFORMATION RENT SCHEDULE

Property Location: 7=6:�=-!��-+��-B���+"�"�'B����8>856 Term Dates Monthly Rent Annual Rent Increase

County: ��.��+��%� Initial 66F6F6:�I�65F85F6= J=B>;7C:5 J65<B::5 ����G'(-��1�����;KH

Price: J6B<7:B555 66F6F6=�I�65F85F76 J>B:55C7: J669B558 ����G'(-��1�����;KH

Price/SF: J75<C88 66F6F76�I�65F85F79 ��� ��� ����G'(-��1�����;KH

Cap Rate: ;C;K 66F6F79�I�65F85F7< ��� ��� ����G'(-��1�����;KH

Rent/SF: J68C<5 66F6F7<�I�65F85F85 ��� ��� ����G'(-��1�����;KH

Year Built: 756: OPTION 1 66F6F85�I�65F85F8: ��� ��� ����G'(-��1�����;KH

Site Size: M�6C6=���+�, OPTION 2 66F6F8:�I�65F85F95 ��� ��� ����G'(-��1�����;KH

Building Size: =B875��� OPTION 3 66F6F95�I�65F85F9: ��� ��� ����G'(-��1�����;KH

Type Of Ownership: �����"&)%� OPTION 4 66F6F9:�I�65F85F:5 ��� ��� ����G'(-��1�����;KH

LEASE SUMMARY OPTION 5 66F6F:5�I�65F85F:: ��� ��� ����G'(-��1�����;KH

Tenant Trade Name: ��&"%2��(%%�+ OPTION 6 66F6F::�I�65F85F;5 ��� ��� ����G'(-��1�����;KH
Lease Type: ���
Rent Commencement: 65F75F756: ACTUAL SITE
Lease Expiration: ;F85F7585
Renewal Options: �"1�:I2��+
Rent Increases: �����/�+2�8�2��+,�'(-�-(��1�����;K
Landlord Responsibilities: �('�
Tenant Responsibilities: ��1�,B�"',.+�'��B�+�)�"+,��'��&�"'-�'�'��
Right Of First Refusal: 85���2,

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).+�!�,��(���+�(+�0"-!"'��'��))%"���%���.���"%" �'���)�+"(�C

REPRESENTATIVE PHOTOS

FA M I LY D O L L A R N E T L E A S E I N V E STM E N T | 6 . 6 % C A P R AT E

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SITE PLAN

FA M I LY D O L L A R N E T L E A S E I N V E STM E N T | 6 . 6 % C A P R AT E

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).+�!�,��(���+�(+�0"-!"'��'��))%"���%���.���"%" �'���)�+"(�C

RETAILER MAP

FA M I LY D O L L A R N E T L E A S E I N V E STM E N T | 6 . 6 % C A P R AT E

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LOCATION MAP

FA M I LY D O L L A R N E T L E A S E I N V E STM E N T | 6 . 6 % C A P R AT E

Distance from Subject Property in Miles: Page 8 of 13
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SALE COMPS FA M I LY D O L L A R N E T L E A S E I N V E STM E N T | 6 . 6 % C A P R AT E

�.�#��-��+()�+-2

SUBJECT PROPERTY Asking Price Year Built Building Size Cap Rate Net Income Price PSF Rent PSF Site Size Sold Date
City State J6B<7:B555 756: =B875��� ;C;�K J669B558 J75<C88 J68C;: 6C6=��� I

��+"�"�' MS Sale Price Year Built Building Size Cap Rate Net Income
J6B>66B555 756; =B875��� ;C:�K J679B76:
SOLD COMPS J6B9;>B555 756: =B875��� ;C9�K J>9B9:< Price PSF Rent PSF Site Size Sold Date
City State J7B655B555 756; =B875��� ;�K J67:B6;5 J77>C;> J69C>8 5C:>��� 5=F7=F756=
J6B=59B56: 756: =B875��� ;C:�K J66<B7;6 J6<;C:; J66C8: 6C6;��� 59F6<F756=
1 �����,)(+- �� J7:7C95 J6:C59 6C58��� 58F5<F756=
J76;C=8 J69C5> 5C:9��� 57F5>F756=
2 �('- (&�+2 ��

3 �!�+%�,-('� ��

4 .'-"' -(' ��

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ABOUT THE AREA

FA M I LY D O L L A R N E T L E A S E I N V E STM E N T | 6 . 6 % C A P R AT E

MERIDIAN, MS ��+"�"�'��"-2� �%%
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�'#(2, � +"�! �.%-.+� (� �+-, �'� &.,"� �'� ", -!� !(&� (� -!�
�",,",,"))"��+-,��'���'-�+-�"'&�'-��1)�+"�'���G�!�����HC

HISTORY

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�'� �(.-!�+' ��"%0�2 (� �",,",,"))"B ��+"�"�' �."%- �' ��('(&2
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D�(%��' � �DC �- ����&� -!� %�+ �,- �"-2 "' �",,",,"))" ��-0��' 6=>5
�'� 6>85B �'� � %���"' ��'-�+ �(+ &�'.���-.+"' "' -!� �(.-!B 0"-! 99
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2��+C

Source: VisitMeridian.com

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TENANT OVERVIEW FA M I LY D O L L A R N E T L E A S E I N V E STM E N T | 6 . 6 % C A P R AT E

FAMILY DOLLAR Dollar Tree Historical Growth Chart (DLTR)
Stock Growth Trajectory - Jan 2019 to June 2019
Family Dollar Stores, Inc., acquired by Dollar Tree (NASDAQ:DLTR) in 2015, operates over
8,200 “small box” discount retail stores throughout the United States. The company, 110.81
founded in 1959 is headquartered in Matthews, North Carolina. It is one of the fastest 100.37
growing retailers in the country today with plans to add over 400 stores in the next 12
months. 105

Their “mission” is to be a compelling and convenient, value driven place to shop for 100
customers. Family Dollar offers a variety of household consumables, health and beauty 95
aids, automotive supplies, pet food, home products, clothing, electronics, toys, school
supplies, and food items at everyday low prices, supplemented by seasonal merchandise 90
at the same low prices. 85

Family Dollar emphasizes small-format neighborhood stores near low to middle income Jan 19 Feb 19 Mar 19 Apr 19 May 19 Jun 19
customers in rural and urban areas with stores ranging from 6,000 to 10,000 square feet.
Most of its merchandise costs less than $10 and consists of national brands, private Representative Photo
labels and unbranded product lines.

For more information, please visit https://www.familydollar.com/

DOLLAR TREE

Dollar Tree, Inc., which has a BBB rating with Standard and Poor’s, caters to a “soccer
mom” demographic in primarily urban and suburban areas. They operate the Dollar Tree
brand separately from Family Dollar and offer items, frequently for “$1”. They carry many
similar items as Family Dollar, but tend to focus more on gift, party and other non-essential
convenience items.

As a result of the acquisition, the combined number of locations of Family Dollar and
Dollar Tree retail stores is over 14,957 in 48 states and five Canadian provinces. Stores
operate under the banners Family Dollar, Dollar Tree, Dollar Tree Canada, and Deals.
The combination of Family Dollar and Dollar Tree creates the largest Dollar Store chain in
North America and generates significant efficiencies in sourcing and procurement, SG&A
leverage, distribution and logistics efficiency, and through format optimization.

For more information, please visit https://www.dollartree.com/

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BROKER PROFILE

FA M I LY D O L L A R N E T L E A S E I N V E STM E N T | 6 . 6 % C A P R AT E

NANCY MILLER, CCIM, MBA Professional Background
President, Net Lease Investment Group
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Bull Realty Inc. &.%-"J-�'�'- +�-�"% )+()�+-"�,C ��'�2 ", � )�+-'�+ �- -!� 4+& �'� %���, -!� ��-"('�% ��- ���,� �'/�,-&�'-
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;55 �-%�'-�B����8587= $'(0%�� ���%� +�-�"% �1)�+-C �' -!� %�,- :N 2��+,B ,!� !�, �+($�+�� (/�+ L8:5� "' ,"' %� �'� &.%-"J-�'�'-
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��"%%�+P�.%%���%-2C�(& "'�.,-+2 ,.+/�2, �('� �2 �(+ �' �-�'%�2 �'� �('-+"�.-�, -( �.%% ���%-2K, +�-�"% �%( ,C �' ���"-"('B ��'�2
Broker of Record: �))��+, )�+"(�"��%%2 (' -!� �(&&�+�"�% ���% �,-�-� �!(0B � '�-"('�% 0��$%2 �(&&�+�"�% +��% �,-�-� +��"(
Michael Bull, CCIM ,!(0�!(,-����'��)+(�.����"'��-%�'-���2��+($�+B��"�!��%��.%%C
Bull Realty, Inc.
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