dollar general #465 12175 somerset avenue princess anne ...€¦the information contained...

8
John E. Camp Vice President 410-957-4005 [email protected] www.oxfordchase.net RETAIL DEVELOPMENT AND MANAGEMENT The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc. makes no warranty or representation of the accuracy of the information. Please understand the property information is subject to change without notice. Buyer must verify all information and assumes all risk for any inaccuracies. 1 DOLLAR GENERAL PLUS – Princess Anne, MD. Rent Commencement : July 2018 Term: 15 Years Corporate Guarantee NNN Lease Dollar General #465 12175 Somerset Avenue Princess Anne, Maryland 21853

Upload: others

Post on 03-Nov-2019

5 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: Dollar General #465 12175 Somerset Avenue Princess Anne ...€¦The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc

John E. CampVice President410-957-4005john.camp@oxfordchase.netwww.oxfordchase.net

RETAIL DEVELOPMENT AND MANAGEMENT

The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc. makes no warranty or representation of the accuracy of the information. Please

understand the property information is subject to change without notice. Buyer must verify all information and assumes all risk for any inaccuracies.

1

DOLLAR GENERAL PLUS – Princess Anne, MD.Rent Commencement : July 2018

Term: 15 Years Corporate Guarantee

NNN Lease

Dollar General #46512175 Somerset Avenue

Princess Anne, Maryland 21853

Page 2: Dollar General #465 12175 Somerset Avenue Princess Anne ...€¦The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc

RETAIL DEVELOPMENT AND MANAGEMENT

FEATURES Dollar General Plus – 10,640 sq. ft. New Lease - No Landlord obligation New Construction-Upgraded Exterior University of Maryland Eastern Shore-1/2 Mile Relocation Store Princess Anne is the County Seat

Location: 12175 Somerset Avenue, Princess Anne, Maryland

Rent Commencement: July 2018

Sale Price: $1,975,208

Cap Rate: 6.25%

Initial Term Rents: $123,450.48

Original Term: 15 Years

Options: Five (5) – Five (5) year optional terms10% increase in each optional year

Lease Type: NNN

Building/Lot Size: 10,640 Sq. Ft./1.53 acres

SUMMARY INFORMATION

2

John E. CampVice President/Principal410-957-4005john.camp@oxfordchase.netwww.oxfordchase.net

The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc. makes no warranty or representation of the accuracy of the information. Please

understand the property information is subject to change without notice. Buyer must verify all information and assumes all risk for any inaccuracies.

Page 3: Dollar General #465 12175 Somerset Avenue Princess Anne ...€¦The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc

AERIAL

RETAIL DEVELOPMENT AND MANAGEMENT

The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc. makes no warranty or representation of the accuracy of the information. Please

understand the property information is subject to change without notice. Buyer must verify all information and assumes all risk for any inaccuracies.

3

John E. CampVice President410-957-4005john.camp@oxfordchase.netwww.oxfordchase.net

Page 4: Dollar General #465 12175 Somerset Avenue Princess Anne ...€¦The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc

RETAIL DEVELOPMENT AND MANAGEMENT

The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc. makes no warranty or representation of the accuracy of the information. Please

understand the property information is subject to change without notice. Buyer must verify all information and assumes all risk for any inaccuracies.

4

John E. CampVice President410-957-4005john.camp@oxfordchase.netwww.oxfordchase.net

SITE PLAN

Page 5: Dollar General #465 12175 Somerset Avenue Princess Anne ...€¦The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc

RETAIL DEVELOPMENT AND MANAGEMENT

DEMOGRAPHICS

5

John E. CampVice President410-957-4005john.camp@oxfordchase.netwww.oxfordchase.net

The location is 12175 Somerset Avenue, Princess Anne,Maryland, Somerset County.

Somerset Avenue is the main street in Princess Anne, Maryland.Princess Anne is an incorporated town and is the county seat andcourthouse for Somerset County. The site is mid-way betweendowntown Princess Anne and UMES Boulevard (the mainentrance to University of Maryland, Eastern Shore-4,540students). The town recently installed sidewalks along both sidesof Somerset Avenue making it more pedestrian friendly.

The location is convenient to the local population, downtown andthe students at UMES. UMES is a resident campus with moststudents in rental apartments along UMES Boulevard.

Princess Anne is the County Seat for Somerset County, Marylandand is a suburb of Salisbury, Maryland. The County’s economicgenerators are farming, commercial fishing and tourism. Thearea is easily accessed by Route 13, the major north and southcorridor routes along the Eastern Shore of Maryland. PrincessAnne is the largest commercial area and the densest populationin Somerset County. The University of Maryland-Eastern Shore isa major economic generator for Princess Anne and SomersetCounty.

The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc. makes no warranty or representation of the accuracy of the information. Please

understand the property information is subject to change without notice. Buyer must verify all information and assumes all risk for any inaccuracies.

Traffic Count - State Route 675 (Somerset Ave.) - 4,683 ADT

2016 One Mile Three Miles Five Miles

Population 3,770 8,031 13,074

University of Maryland 4,540

Average Income $36,085 $41,105 $45,215

Page 6: Dollar General #465 12175 Somerset Avenue Princess Anne ...€¦The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc

RETAIL DEVELOPMENT AND MANAGEMENT

LEASE ABSTRACT

Guarantor Corporate (NYSE:DG)Credit S & P Baa2Taxes Tenant ReimbursementInsurance Tenant ResponsibilityMaintenance/Cam Tenant ResponsibilityHVAC Tenant ResponsibilityParking Lot Tenant ResponsibilityRoof & Structure Tenant ResponsibilityUtilities Tenant ResponsibilityLease Term 15 Years (Commencing

4th quarter of 2017)Optional Terms 5 - 5 YearIncrease in Options 10%

6

John E. CampVice President410-957-4005john.camp@oxfordchase.netwww.oxfordchase.net

The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc. makes no warranty or representation of the accuracy of the information. Please

understand the property information is subject to change without notice. Buyer must verify all information and assumes all risk for any inaccuracies.

Page 7: Dollar General #465 12175 Somerset Avenue Princess Anne ...€¦The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc

RETAIL DEVELOPMENT AND MANAGEMENT

RENT SCHEDULE

Size Year Annual Rent Rent/Ft.

10,640 sf Initial Term 1-15 $123,450.48 $11.60

First Optional Term 16-20 $135,795.48 $12.76

Second Optional Term 21-25 $149,375.04 $14.04

Third Optional Term 26-30 $164,312.64 $15.44

Fourth Optional Term 31-35 $180,743.88 $16.99

Fifth Optional Term 36-40 $198,818.28 $18.69

7

John E. CampVice President410-957-4005john.camp@oxfordchase.netwww.oxfordchase.net

The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc. makes no warranty or representation of the accuracy of the information. Please

understand the property information is subject to change without notice. Buyer must verify all information and assumes all risk for any inaccuracies.

Tenant is responsible for all costs associated with the Property to include but not limited to insurance, taxes, property maintenance, repairs and all other costs.

Page 8: Dollar General #465 12175 Somerset Avenue Princess Anne ...€¦The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc

RETAIL DEVELOPMENT AND MANAGEMENT

Tenant Summary

DOLLAR GENERAL DETAILS

Annual Sales $23.5 Billion (FY 2017)Credit Rating Baa2Founded 1939Locations 14,534 (2/2018)Employees 130,000 (+)Distribution Centers 15Symbol NYSE: DG

Corporate Office100 Mission Ridge

Goodlettsville, TN 37072www.dollargeneral.com

Dollar General is the largest discount retailer in theUnited States by number of stores with over 14,000neighborhood stores in 44 states. Dollar Generalhelps shoppers save time and money by offeringquality private and national branded items that arefrequently used and replenished, such as food,snacks, health and beauty aids, cleaning supplies,basic apparel, house wares and seasonal items ateveryday low prices in convenient neighborhoodstores. Dollar General is among the largestretailers of top-quality products made by America’smost trusted manufactures such as Proctor &Gamble, Kimberly Clark, Unilever, Kellogg’s,General Mills, Nabisco, Hanes, PepsiCo and Coca-Cola.

8

John E. CampVice President410-957-4005john.camp@oxfordchase.netwww.oxfordchase.net

The information contained here-within this document is believed to be reliable, although Oxford Chase Development, Inc. makes no warranty or representation of the accuracy of the information. Please

understand the property information is subject to change without notice. Buyer must verify all information and assumes all risk for any inaccuracies.