Dollar General
Lacassine, LA
| Price | $1,240,000 |
| Cap Rate | 7.00% |
| NOI | $86,803 |
| Lease Term | 15 Years |
| Lease Type | Absolute NNN, with Tenant Responsible for All Taxes, Insurance, Utilities, Maintenance, and Repair, Including Roof, Structure, and Parking Lot |
| Rental Increases | 10% Rental Increases In Options |
| Year Built | 2018 |
| Building Size | 9,100 SF |
| Lot Size | 1.50 Acres (65,310 SF) |
| Status | Under Contract |
| 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
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, providing an 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 has yearly revenues exceeding $21.9 billion
» Dollar General operates 14,000 locations in 44 states and has plans for significant future growth
CENTRAL LOCATION WITH CONVENIENT FREEWAY ACCESS
» Located at the intersection of U.S. Highway 90 and Highway 101
» Convenient access to Interstate 10 (50,233 AADT)
» Central location near downtown Lacassine, Lacassine High School, and Lacassine’s industrial park
NEW 2018 CONSTRUCTION
» New building, limiting near-term deferred maintenance or capital costs
» Built-to-suit construction featuring latest Dollar General store design and concepts
Property Description
The property is conveniently located just off of the intersection of U.S. Highway 90 and Highway 101. Convenient access to Interstate 10 is located less than a mile north of the property. With a high traffic count of 50,233 vehicles per day near the property, Interstate 10 is a heavily traveled route and is the main transportation corridor through the Acadiana region. The property benefits from its central location less than half a mile from downtown Lacassine and Lacassine High School, which has a total enrollment of 644 students. Additionally, the property is close to Lacassine’s industrial park, which is home to major employers. Notable tenants within the industrial park include Louisiana Spirits Distillery, the distiller of Bayou Rum; South Louisiana Rail Facility, a 200-member co-op that participates in the direct trade of quality paddy rice; Progressive Tractor, an agricultural equipment supplier with locations across Louisiana and Arkansas; Porocel, a worldwide leader in the chemical manufacturing industry; and Quanta Technology, a utility infrastructure consulting company with offices throughout the U.S., Canada, and Ecuador.
