Triple net leased Dollar General for sale

1. NET LEASED INVESTMENT OFFERING
Rite Aid (Sublet to Dollar General)
989 Athens Highway
Loganville, GA 30052 (Atlanta MSA)
www.bouldergroup.com

2. TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING
TABLE OF CONTENTS
1)
Confidentiality & Disclaimer
2)
Executive Summary
3)
Property Overview
4)
Aerial
5)
Site Plan
6)
Maps
7)
Tenant Profiles
8)
Demographic Comparison Report
9)
Location Overview
10)
Contact Information
www.bouldergroup.com

3. CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
CONFIDENTIALITY & DISCLAIMER
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to
be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person
or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide
summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the
subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The
Boulder Group has not made any investigation, and makes no warranty or representation. The information contained
in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group
has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any
investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy
or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the
information set forth herein.
www.bouldergroup.com

4. EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant Rite Aid property located in the Atlanta MSA fully
leased to Rite Aid. Rite Aid is no longer operating at this location and the property is currently being sublet to Dollar General.
The property benefits from its location along Athens Highway, a heavily trafficked roadway, and the Kroger grocery store
across the street. Dollar General has been successfully operating at this location since 2010. Store sales for Dollar General
have increased by 18.5% from 2011 to 2013.
The property is located at the signalized intersection of Athens Highway and Rosebud Road. This intersection benefits from
traffic counts in excess of 50,000 vehicles per day creating steady traffic flow near the property. The property has two points
of ingress and egress, one along Athens Highway and the other on Rosebud Road. The property is located across the street
from a Kroger anchored shopping center. There are over 112,000 people living within five miles of the property earning
household incomes of approximately $80,000. The property is positioned between Atlanta and Athens along US Highway 78
approximately 25 and 35 miles from each respective city’s downtown.
Rite Aid’s original lease term was for 20 years and the lease expires in October 2016. Rite Aid is a publicly traded company
on the New York Stock Exchange (RAD), with a market capitalization of $4.5 Billion. Rite Aid has over 4,600 locations and
employs 55,000 people. Dollar General’s sublease term is for 6 years and the sublease expires in October 2016. Dollar
General is a publicly traded company on the New York Stock Exchange (DG), with a market capitalization of $19 Billion.
INVESTMENT HIGHLIGHTS
• Located within the Atlanta MSA
• Positioned on a hard corner of a signalized intersection
• Currently subleased to a strong performing Dollar General
• 18.5% increase in Dollar General store sales from 2011-2013
• Located across the street from a Kroger grocery store
• No landlord responsibilities
• There are over 112,000 people living within five miles of the property
earning household incomes of approximately $80,000
• Traffic volumes at the intersection of Athens Highway and Rosebud Road in excess of 50,000 vehicles per day
• Low price per square foot
www.bouldergroup.com

5. PROPERTY OVERVIEW
NET LEASED INVESTMENT OFFERING
PROPERTY OVERVIEW
Price:
$1,794,453
Cap Rate:
10.60%
Net Operating Income:
$190,212
Lease Commencement Date:
November 2, 1996
Lease Expiration Date:
October 31, 2016
Tenant:
Rite Aid (NYSE: RAD)
Year Built:
1996
Lease Type:
NNN
Rentable Square Feet:
10,908
Land Size:
1.41 acres
Subtenant:
Dollar General (NYSE: DG)
Sublease Commencement Date:
August 31, 2010
Sublease Expiration Date:
October 31, 2016
Sublease Rent Schedule:
NOI
$104,171
$113,552
www.bouldergroup.com
Escalation Date
8/31/2015

6. AERIAL
NET LEASED INVESTMENT OFFERING
AERIAL
N
ROSEBUD COMMONS
SHOPPING CENTER
CAMBRIDGE DOWNS
APARTMENTS
AY
HW D
IG P
S H 50 V
N
HE ,1
AT 40
RO
S
10 EBU
,82 D
0 V RO
PD AD
SUMMIT CHASE
ANIMAL HOSPITAL
www.bouldergroup.com

7. SITE PLAN
NET LEASED INVESTMENT OFFERING
SITE PLAN
N
OAD
UD R
B
ROSE
ATHENS HIGHWAY
www.bouldergroup.com

8. MAPS
NET LEASED INVESTMENT OFFERING
MAPS
www.bouldergroup.com

9. TENANT PROFILES
NET LEASED INVESTMENT OFFERING
TENANT PROFILES
Rite Aid (NYSE: RAD) is a national drugstore chain ranked third in the United States by total number of stores. In its
stores, Rite Aid sells prescription drugs and an assortment of other merchandise including over the counter medications,
a selection of health and beauty aids and personal care products, seasonal merchandise convenience foods, beverages
and a large private brand product line. Rite Aid serves customers through over 4,600 stores across 31 states. Rite Aid
has approximately 55,000 employees and is headquartered in Pennsboro Township, Pennsylvania.
Website:
Number of Locations:
Stock Symbol:
Market Capitalization:
Employees:
www.riteaid.com
4,623
RAD (NYSE)
$4.5 billion
55,000
www.bouldergroup.com

10. TENANT PROFILES
NET LEASED INVESTMENT OFFERING
TENANT PROFILES
Dollar General Corporation (NYSE: DG) operates as a discount retailer of general merchandise in the southern,
southwestern, midwestern, and eastern United States. As of March 2012, Dollar General operated approximately
10,000 stores throughout 40 states. Dollar General offers consumables, home cleaning supplies, packaged food and
perishables, beverages and snacks, over-the-counter medicines, personal care products and pet supplies and pet food
products. It also provides seasonal products, prepaid cell phones and accessories, automotive supplies and apparel
products.
Website:
Number of Locations:
Stock Symbol:
Standard & Poor’s Rating:
Market Capitalization:
Employees:
www.dollargeneral.com
10,000+
DG (NYSE)
BBB$19 billion
90,000
www.bouldergroup.com

11. DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
DEMOGRAPHIC COMPARISON REPORT
Population
Total Population
Total Households
3-mi
5-mi
7-mi
43,068
14,160
112,618
37,509
224,910
73,460
$64,053
$77,278
$64,712
$79,614
$63,349
$78,678
Income
Median Household Income
Average Household Income
www.bouldergroup.com

12. LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
LOCATION OVERVIEW
Loganville is a city located primarily located in Walton County with a small portion of the city located
in Gwinnett County, Georgia. The Dollar General property is located in Gwinnett County. Loganville
has a population of approximately 11,000. At the time of the 2010 US Census, the population was
83,768. Walton County and Gwinnett County are part of the Atlanta Metropolitan Area. Gwinnett
County is the second most populous county in the state of Georgia and at the time of the 2010 US
Census, its population was 805,321.
www.loganville-ga.gov
Atlanta (is the most populous city in Georgia. According to the 2010 census, Atlanta’s population
is 420,003. Atlanta is the cultural and economic center of the Atlanta metropolitan area, which is
home to 5,268,860 people and is the ninth largest metropolitan area in the U.S. Today, the city
is a major business city and the primary transportation hub of the Southeastern United States
(via highway, railroad, and air), with Hartsfield–Jackson Atlanta International Airport being the
world’s busiest airport by passenger traffic and number of landings and take-offs since 2005, serving 89 million
passengers per year.
The World Cities Study Group at Loughborough University rated Atlanta as a “Global City.” With a gross domestic
product of US$270 billion, Atlanta’s economy ranks 15th among world cities and sixth in the nation. Atlanta
contains the country’s fourth largest concentration of Fortune 500 companies, and more than 75 percent of Fortune
1000 companies have business operations in the metropolitan area. Metro Atlanta is the world headquarters of
corporations such as The Coca-Cola Company, Turner Broadcasting, The Home Depot, AT&T Mobility, UPS, and
Delta Air Lines.
www.atlantaga.gov
www.bouldergroup.com

13. CONTACT INFORMATION
NET LEASED INVESTMENT OFFERING
CONTACT INFORMATION
666 Dundee Road, Suite 1801
Northbrook, IL 60062
Randy Blankstein
President
847.562.0003
rblank@bouldergroup.com
Jimmy Goodman
Partner
847.562.8500
jimmy@bouldergroup.com
www.bouldergroup.com