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Dollar General, Larose, LA

Dollar General

LA, United States

Price $1,652,500
Cap Rate
NOI
Lease Term 15 Years
Lease Type
Rental Increases 10% Rental Increases in Options
Year Built 2014
Building Size 9,026 SF
Lot Size 1.06 Acres (46,360 SF)
Status Sold
Lead Broker Information Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

CORPORATE GUARANTEED LEASE WITH SCHEDULED RENT INCREASES
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Scheduled rental increases in option periods, providing a hedge against inflation

ABSOLUTE TRIPLE NET LEASE
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» No landlord management
» Ideal investment opportunity for an out-of-area investor

MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Dollar General Corporation is rated “BBB” by Standard & Poor’s and “Baa2” by Moody’s
» Dollar General’s yearly revenues exceed $20 billion
» Dollar General operates 13,000 locations in 43 states and has plans for significant future growth

PRIME LOCATION IN LOUISIANA’S BAYOU REGION
» The Houma-Thibodaux MSA had the lowest unemployment rate in the nation in February 2014
» The Bayou Region is consistently ranked one of the strongest regional economies in the nation
» Forbes ranked the region in the top 35% of metro areas for job growth in 2013

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located at the signalized hard corner of Bayou Portuguese Drive and Highway 308, with excellent visibility and access to 9,552 vehicles per day. The property is just outside of downtown Larose, which is home to many local retailers and a number of national tenants, including Family Dollar, NAPA Auto Parts, and Merle Norman Cosmetic Studio. Several shopping plazas are located just over three miles from the property. The centers feature major retailers, including Burkes Outlet, AT&T, McDonald’s, Taco Bell, Popeyes, Rouses, AutoZone, and others.

The property benefits from its prime location on Bayou Lafourche, dubbed “the longest Main Street in the world.” The bayou is home to a number of large shipping operations, representing a significant portion of the area’s economy. Edison Chouest Offshore and Bollinger Shipyards, two of the area’s largest employers, are located just over a mile from the property. Additionally, the bayou and the roadway paralleling it lead to Port Fourchon on the Gulf of Mexico. Port Fourchon is one of the busiest ports in the U.S. and is a major employment center, with over 250 companies occupying the port.

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