Family Dollar for Sale

Transcription

1 Family Dollar for Sale 2665 Hull St. Richmond, VA Representative Photo

2 Table of Contents FOR FURTHER INFORMATION Joe Boyd office mobile web 2665 Hull St. Richmond, VA Locator Map... 3 High Aerial...4 Mid Aerial G Wappoo Creek Drive Charleston, SC phone (843) fax (843) web twinriverscap.com Site Aerial... 6 Site Plan...7 Property Information...8 Tenant & Lease Information...9 Financials About Us... 11

3 RICHMOND, VA Locator Map

4 High Aerial Genesis Prep Patrick Henry School of Arts Boys and Girls Club of Metro Richmond Blackwell Elementary Market Place Swansboro Elementary Midlothian Turnpike 10,000 VPD Jefferson Davis Hwy. Ephesus Junior Academy Family Value Food Market Hull St. 16,000 VPD SITE Agape Christian Academy

5 Mid Aerial Boys and Girls Club of Metro Richmond S & K Mini Market Patrick Henry School of Arts SITE Market Place Ephesus Junior Academy Midlothian Turnpike 10,000 VPD Swansboro Elementary Family Value Food Market Agape Christian Academy Hull St. 16,000 VPD Bryce D. Jewett Machine Manufacturing Co. In & Out Food Store

6 Site Aerial Apartments Single Family Brooks Sign Co. Market Place Hull St. 16,000 VPD Auto Parts SITE Midlothian Turnpike 10,000 VPD Church Single Family Ayer s Floor Co. Trucking Thrift Store Lloyd s Restoration Auto Sales Auto Center Tool Sharpening Family Value Food Market Hull St. 16,000 VPD Body Shop Bryce D. Jewett Machine Manufacturing Co.

7 Site Plan

8 Property Information Property and Location Highlights RICHMOND, VA Richmond is the capital of the Commonwealth of Virginia. It is located at the fall line of the James River, 44 miles west of Williamsburg, 66 miles east of Charlottesville, and 98 miles south of Washington, D.C. Dominion Resources and MeadWestvaco are headquartered in the city, and Richmond is home to several Fortune 500 companies including: electric utility Dominion Resources; CarMax; Owens & Minor; Genworth Financial; WestRock; McKesson Medical-Surgical, Markel Corporation, and Altria Group. Other Fortune 500 companies, while not headquartered in the area, do have a major presence. These include SunTrust Bank, Capital One Financial Corporation, and the medical and pharmaceutical giant McKesson. Capital One and Philip Morris USA are two of the largest private Richmond-area employers. DuPont maintains a production facility in South Richmond known as the Spruance Plant. UPS Freight has its corporate headquarters in Richmond. Other companies based in Richmond include chemical company NewMarket, Brink s, Estes Express Lines, Universal Corporation, Cavalier Telephone, Cherry Bekaert & Holland, and Media General. Richmond is also home to four of the largest law firms in the United States: Hunton & Williams, McGuireWoods, Williams Mullen, and LeClairRyan. The city is home to both the United States Court of Appeals for the Fourth Circuit, one of 13 United States courts of appeals, and the Federal Reserve Bank of Richmond, one of 12 Federal Reserve Banks. Richmond is home to the rapidly developing Virginia BioTechnology Research Park, an incubator facility for biotechnology and pharmaceutical companies. Located adjacent to the Medical College of Virginia (MCV) Campus of Virginia Commonwealth University, the park houses a diverse tenant mix of companies, research institutes, government laboratories and non-profit organizations. The United Network for Organ Sharing, which maintains the nation s organ transplant waiting list, occupies one building in the park. The Richmond area has many major institutions of higher education, including Virginia Commonwealth University, University of Richmond, Virginia Union University, and Virginia College. Virginia State University is located about 20 miles south of Richmond, and Randolph-Macon College is located about 15 miles north of Richmond. > 15 YEAR NNN BTS > APPROX ACRES > 8,320 SF > ZONED B-3 IN THE CITY OF RICHMOND > RARE DOMINANT INFILL LOCATION WITH ACCESS TO 2 MAJOR THOROUGHFARES > CAP RATE: 5.75% > ZERO LANDLORD OBLIGATIONS > 16,000 VPD > STORE PROJECTED TO BE A TOP PERFORMER > DEMOGRAPHICS 1 Mile 3 Mile 5 Mile Population 12, , ,014 Average HHI 42,464 52,115 57,479

9 Tenant & Lease Information TENANT PROFILE Tenant: Family Dollar Stores of Virginia, Inc. Dollar Tree, a Fortune 500 Company which acquired Family Dollar in July, 2015, now operates more than 13,600 stores across 48 states and five Canadian provinces. Stores operate under the brands of Dollar Tree, Dollar Tree Canada, Deals and Family Dollar. LEASE INFORMATION > Initial lease term of 15 years > Six 5-year options increasing at 10% each option period > 10% bump in year 11 Dollar Tree is the nation s leading operator of fixed price-point stores, selling everything for $1 or less, and Family Dollar is a leading national operator of multi price-point stores providing value-conscious consumers with a selection of competitively priced merchandise in convenient neighborhood stores. The Company intends to retain and to grow both banners going forward and will optimize the combined real estate portfolio. > Together, Dollar Tree and Family Dollar had $4.8 billion in net sales in their most recent quarter > The combined Dollar Tree and Family Dollar company operates more than 13,000 stores nationwide, making it the largest dollar-store chain in the U.S. by store count > The combined company has sales of over $19 billion a year > Family Dollar continues as a wholly-owned subsidiary of Dollar Tree NYSE: DLTR

10 Financials Rent Roll Tenant: Family Dollar Stores of Virginia, Inc. Guarantor: Family Dollar Stores, Inc. NNN Lease 2665 Hull St. Richmond, VA Price Summary Price $2,206,295 Cap Rate 5.75% on first 10 years 6.00% on initial term NOI $126, TENANT BUILDING SQ FT LEASE START/ EXPIRATION RENT PER SQ FT MONTHLY RENT ANNUAL RENT OPTIONS Family Dollar 8,320 SF March, 2017 / 3/31/2032 Years 1 10: $15.24 Years 11 15: $16.77 Years 1 10: $10, Years 11 15: $11, Years 1 10: $126, Years 11 15: $139, Six 5-year options increasing at 10% each option period

11 About Us TRC provides national retailers with a comprehensive solution for growing their business by developing new locations. TWIN RIVERS CAPITAL, LLC Twin Rivers Capital, LLC is a privately held real estate investment and development company, founded in 2002 and located in Charleston, SC. Focusing on the growth regions of the Southeastern US (primarily VA, NC, SC, GA and FL), TRC provides national retailers with a comprehensive solution for adding new locations. TRC has developed more than 850,000 SF of real estate with values in excess of $145 million. Build to Suit JV Programs Family Dollar Preferred Developer YOUR TWIN RIVERS CAPITAL CONTACT Joe Boyd Joe is responsible for all property and asset management and is also involved in property sales. With over 25 years of experience in property management, Joe has served as Property Manager for numerous lifestyle centers and super-regional malls, including properties held by Madison Marquette Realty Services, CBL Properties and The Jacobs Group. Joe received his Bachelor s Degree from Grove City College and his MBA from Indiana University of Pennsylvania. He received his CSM in 1995, his CMD in 1997 and his SC Realtor s License in OFFICE MOBILE joe@twinriverscap.com WEB twinriverscap.com Client Roster FAMILY DOLLAR AUTOZONE MCDONALD S VERIZON WALMART SHERWIN WILLIAMS DICK S AT&T HOBBY LOBBY STARBUCKS DOLLAR TREE