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Dollar General & Fastenal, Burlington, NJ

Dollar General & Fastenal

Burlington, NJ

Price $2,460,000
Cap Rate 6.50%
NOI $159,853
Lease Term Various
Lease Type Various
Rental Increases Various
Year Built 2020 (Remodeled)
Building Size 16,440 SF
Lot Size .70 Acres (30,492 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

100% LEASED RETAIL CENTER TO STRONG CORPORATE TENANTS
» Leased to corporate tenants with strong financials
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General’s annual revenue exceeds $27.8 billion and is ranked #119 on Fortune 500 list (11 consecutive years of Fortune 500 ranking growth)
» Fastenal maintains locations in every U.S. state and has 3,200 total locations worldwide (NASDAQ: “FAST”)
» Fastenal rent is below market and Fastenal has no remaining lease options providing for significant upside

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED, GROWING, AND AFFLUENT AREA
» High-traffic location along U.S. Route 130/Burlington Pike, with excellent visibility and access to 42,538 vehicles per day
» Central location at the confluence of several highly trafficked thoroughfares, including Burlington Bristol Bridge (21,500 AADT), Interstate 95 (70,290 AADT), and Interstate 295 (95,082 AADT)
» 162,678 residents within a five-mile radius of the property, establishing an extremely large customer base for the site
» Located in a robustly affluent area, with an average annual household income of $90,067 within a three-mile radius of the site
» Projected eight percent average annual household income increase within five miles of the site in the next five years

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Immediately surrounded by a strong mix of local and national retailers, including Save-a- Lot, Meineke Car Care, Dunkin’, Walgreens, McDonald’s, Domino’s Pizza, and many more
» Located within a five-mile radius of seven major shopping centers with a combined 421 stores and 4.2 million SF of retail space, promoting crossover shopping
» Central location within the Burlington Township School District, which has four schools and 3,761 students
» Beneficial proximity to major tourist attractions, including Neshaminy State Park (1 million annual visitors)
» 30 minutes from Downtown Philadelphia (43 million annual visitors)
» One mile from the New Jersey/Pennsylvania border, increasing commuter traffic to the property



Property Description

The property has a high-traffic location along U.S. Route 130/Burlington Pike, with excellent visibility and access to 42,538 vehicles per day. The site is also centrally located at the confluence of several highly trafficked thoroughfares, including Burlington Bristol Bridge (21,500 AADT), Interstate 95 (70,290 AADT), and Interstate 295 (95,082 AADT). The property is located in a densely populated and affluent area, with 162,678 residents living within a five-mile radius of the site and an average annual household income of $90,067 within three miles of the site. Dollar General & Fastenal are also poised to grow along with the location, with a projected eight percent average annual household income increase within five miles of the site in the next five years.

The property benefits from its central location near many of the region’s largest employers, retailers, and community hubs. The location is immediately surrounded by a strong mix of local and national retailers, including Meineke Car Care, Dunkin’, Walgreens, KFC, McDonald’s, Domino’s Pizza, and many more. The location resides within a five-mile radius of seven major shopping centers with a combined 421 stores and 4.2 million SF of retail space, promoting crossover shopping to the property. The site benefits from being centrally located within the Burlington Township School District, which features four schools and 3,761 students. The property maintains a beneficial proximity to major tourist attractions, including Neshaminy State Park (1 million annual visitors). The location is also one mile from the New Jersey/Pennsylvania border and 30 minutes from Downtown Philadelphia (43 million annual visitors), increasing commuter traffic to the site.

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