Dollar General Double-Net Lease with 6.5 Years Remaining in Infill Suburban Detroit (Westland, MI)
Extremely Dense Infill Location Along Major Arterial with 14,000 Residents within a One-Mile Radius
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 on Merriman Road Less Than 1-Mile North of Michigan Avenue – High Traffic North-South Corridor with 40,000 VPD
E-Commerce Resistant, Recession- Proof, and Pandemic-Proof Business Model – Stayed Open and Paying Rent During COVID Shutdowns
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 – Masonry Construction with Prototypical 9,100 SF Footprint and Excellent Visibility
Dense Middle-Income Demographics in all Radius Rings – 114,550 Residents in 3-Mi & 267,725 Residents in 5-Mi; 5-Mi AHHI of $66K
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