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Dollar General, Camden, NJ

Dollar General

Camden, NJ

Price $1,714,000
Cap Rate 6.00%
NOI $102,836
Lease Term 10 Years
Lease Type Net, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Excluding Roof, Structure, and Parking Lot Replacement
Rental Increases 10% Rental Increases in Option Periods
Year Built 2021
Building Size 7,987 SF
Lot Size 0.61 Acres (26,572 SF)
Status Under Contract
Lead Broker Information Andrew J. Schwartz
Cushman & Wakefield
973.292.4624
dollargeneral.nj@cushwake.com

Investment Highlights

10-YEAR NET LEASE WITH CORPORATE GUARANTY
» 10-year net lease to corporate tenant with strong financials
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Dollar General’s annual revenue exceeds $27.8 billion
» Dollar General Ranked #119 on Fortune 500 list (11 consecutive years of Fortune 500 ranking growth)
» Dollar General operates more than 16,350 locations in 45 states and has plans for significant future growth
» Four (4) options of five (5) years each with scheduled rental increases, providing an excellent hedge against inflation
» 2021 retrofit

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED, GROWING, AND AFFLUENT AREA
» Located at the hard-corner of Federal Street and 27th Street, with excellent visibility and access to 22,527 vehicles per day
» Central location at the confluence of several highly trafficked thoroughfares, including U.S. Route 30 (88,952 AADT), U.S. Route 130 (59,152 AADT), and Interstate 676 (78,340 AADT)
» 677,711 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 $85,528 within a one-mile radius of the site
» Projected 12% average annual household income increase within five miles of the site in the next five years, poising Dollar General and Camden for significant concurrent growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Immediately surrounded by a strong mix of local and national retailers, including Walmart, ALDI, Wawa, McDonald’s, Burger King, Popeyes, and many more
» Located within a five-mile radius of 18 major shopping centers with a combined 672 stores and 7.5 million SF of retail space, enhancing the site’s visibility
» Central location near highly attended Camden schools, including Paul VI High School, Woodrow Wilson High School, and Camden Catholic High School (combined 2,528 students)
» Beneficial proximity to major community hubs, including Cooper University Hospital (635 beds, 7,000 employees), Adventure Aquarium (800,000 annual visitors), and Subaru of America Headquarters (1,500 employees)
» Five miles from Downtown Philadelphia, greatly increasing commuter traffic to the property (largest city in Pennsylvania, sixth-largest city in the U.S., population of 1,584,064)



Property Description

The property is strategically located at the hard-corner of Federal Street and 27th Street, with excellent visibility and access to 22,527 vehicles per day. The site is also centrally located at the confluence of several highly trafficked New Jersey thoroughfares, including U.S. Route 30 (88,952 AADT), U.S. Route 130 (59,152 AADT), and Interstate 676 (78,340 AADT). The property is located in a densely populated and affluent area, with 677,711 residents living within a five-mile radius of the site and an average annual household income of $85,528 within five miles of the site. Dollar General is also poised to grow along with the location, with a projected 12% 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 McDonald’s, Papa John’s Pizza, ALDI, Burger King, Popeyes, Walmart, Wawa, and many more. The location resides within a five-mile radius of 18 major shopping centers with a combined 672 stores and 7.5 million SF of retail space, promoting crossover shopping to the property. The site benefits from being centrally located near highly attended Camden schools, including Paul VI High School, Woodrow Wilson High School, and Camden Catholic High School (combined 2,528 students). The property maintains a beneficial proximity to major tourist attractions and community hubs, including Adventure Aquarium (800,000 annual visitors), Cooper University Hospital (635 beds, 7,000 employees) and Subaru of America Headquarters (1,500 employees). The location is also five miles from Downtown Philadelphia, greatly increasing commuter traffic to the property (largest city in Pennsylvania, sixth largest city in the U.S., population of 1,584,064).

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