NEW CONSTRUCTION - 15-year ABSOLUTE NNN LEASE
FAMILY DOLLAR
PHILADELPHIA, PA
PRICING
PRICE: $3,418,000
NOI: $213,645
CAP: 6.25%
investment
highlights
  • Corporate Guarantor: Prior to its $9.2B merger with Dollar Tree (NASDAQ: DLTR) in July 2015, Family Dollar Stores, Inc. was the second largest dollar store chain in the U.S. Post-merger, the combined company has a net worth of $4.40B, produces annual revenues in excess of $18.4B, and operates more than 13,800 stores making it the largest discount retailer in North America. 
  • Long-Term Absolute NNN Lease: New 15-year lease with six 5-year renewal options and no landlord responsibilities will commence in September 2016.
  • Attractive Rent Escalations: 10% rent increases in October 2027 and each of the renewal options.
  • New Construction: The building is currently under construction with expected delivery in September 2017.
  • Excellent Access/Visibility: Ideally located with excellent visibility on Kensington Avenue (Traffic Count: 7,935 VPD), approximately 4 miles northeast of Philadelphia’s CBD. Additionally, the property is within a 5-minute walk of both the Huntingdon and York-Dauphin SEPTA (Southeastern Pennsylvania Transportation Authority) stations.
  • Strategic Location: Family Dollar is strategically situated in a trade area with minimal competition from other discount retailers – despite a population of more than 71,760 within one mile of the site, there are no competing national discount retailers.
  • Dominant Commercial Corridor: Approximately 19.5 MSF of retail, 48.1 MSF of industrial, 35.3 MSF of office space and 30,477 multifamily housing units within a 3-mile radius.
  • Infill Demographics: 3-mile population of 396,351 and average household income of $47,487.
CONTACT
US
WILL PIKE
Managing Director
+1 404 923 1381
will.pike@cbre.com 

BRIAN PFOHL
Capital Markets Manager
+1 404 504 7893
brian.pfohl@cbre.com


 
CHRIS BOSWORTH
Managing Director
+1 404 923 1486
chris.bosworth@cbre.com

MATTHEW GORMAN
Senior Vice President
+1 484 567 2340
matthew.gorman@cbre.com
 
 
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