Dollar General Double-Net Lease with 6 Years Remaining in Infill Suburban Detroit (Allen Park, MI)
Extremely Dense Infill Location Along Major Arterial with 15,300 Residents within a One-Mile Radius; Middle-Income Demos with $78K AHHI
Five-Year Extension Exercised Over Four Years in Advance of Initial Lease Expiration at 5% Increase in Rent Demonstrating Strong Commitment to the Site
Located Just Two Blocks North of Southfield Road (58,000 VPD) on Allen Road (14,000 VPD) – 72,000 VPD at Intersection
E-Commerce Resistant, Recession-Proof, and Pandemic-Proof Business Model –Stayed Open and Paying Rent During COVID Shutdowns
Located at Signalized Intersection with Two Points of Ingress/Egress on to both Allen Road and Horger Avenue, Easy Accessibility with Dedicated Turning Lane on Allen Road
Double-Net Lease with Minimal Landlord Responsibilities – Mostly Just Roof & Structure; Tenant Responsible for HVAC and Parking Lot Repairs, and Parking Lot Sealing & Striping
Dollar General is a $50 Billion Market Cap Publicly-Traded Company with 17,300+ Stores in 46 States
Dollar General Boasts 31 Years of Consecutive Same-Store Sales Growth and Saw 21.6% YOY Revenue Growth to $33.75 Billion
Dollar General Plans to Open 1,000+ New Stores in 2021, Along with Completing 1,750 Remodels
Complete Gut Renovation of Existing Building in 2012 – Highly Durable Concrete Block Construction with Prototypical 9,100 SF Footprint and Excellent Visibility
Dense Middle-Income Demographics – 125,350 Residents in 3-Mi & 283,580 Residents in 5-Mi; AHHI of $63-78K within all Radius Rings
Detroit MSA – Home to a Population of 4.3 Million, Top 15 MSA in the US with Major Employers Including Ford, Fiat Chrysler, General Motors, University of Michigan, Beaumont Health, U.S. Government, Henry Ford Health, Rocket Companies, and More