2017 CONSTRUCTION STORE • 9,026 SF Build-to-suit Dollar General in LaFayette (Chattanooga MSA), GA. • This store has upgraded construction and was built in April 2017.
LONG TERM CORPORATE NNN LEASE • The subject property has 12 years remaining on a 15-year Corporate Guaranteed Lease with Dollar General. • The Tenant is 100% responsible for all expenses, including roof, structure, taxes, insurance and common area maintenance. • There are 10% rent increases in each of the five, 5-year option periods.
INVESTMENT GRADE TENANT • Dollar General is a publicly traded (NYSE: DG) Fortune 500 company and is BBB investment grade rated. • There are currently over 15,839 locations in 45 states and 975 new locations expected to be opened this year. • Dollar General has been in business for 80 years and has a current net worth of over $6 billion.
CHATTANOOGA MSA • LaFayette, the county seat of Walker County, GA, is located 28 miles south of Chattanooga (within the Chattanooga, TN-GA MSA). • Chattanooga, the fourth largest city in Tennessee, is known as the Scenic City; its location along the Tennessee River at the foothills of the Appalachian mountains provides stunning natural beauty and extensive outdoor recreational activities for residents and visitors alike. • The city’s investment in the first Gig Internet, providing a 100% fiber network linking every home and business in a 600-square-mile area, has enhanced the economy, bringing both start-ups and major corporations to the area, including Amazon.com, Chase headquarters, and the expansion of Volkswagen’s Chattanooga plant. • Chattanooga is also home to the University of Tennessee with more than 11,500 enrolled, Chattanooga State Community College, with about 11,000 students, Southern Adventist University, Virginia College and Covenant College.