8 YEAR NNN BUILD-TO-SUIT DOLLAR GENERAL • This property is a 9,100 SF Build-to-suit Dollar General located in Pensacola, FL. • The store opened in July 2013 and has approximately 8-years remaining on the initial 15-Year Corporate Guaranteed NNN Lease. • This is an absolute NNN lease and the Tenant is 100% responsible for all expenses including taxes, CAM, insurance, roof and structure. • There are 10% rent increases in each of the four, 5-year option periods.
SUPERIOR DEMOGRAPHICS • The 5-mile population is 103,288 with over 7% growth, and the Average Household Income is $74,943 which is superior to most Dollar General locations.
PRIMARY RETAIL LOCATION • This store sits on East Nine Mile Road (35,500 VPD) and is less than half a mile from Hwy 29 (46,000 VPD). • Property is located on a primary retail corridor with over 4 Million SF of retail within a 2-mile radius. National retailers include Publix, Home Depot, Harbor Freight Tools, Starbucks and more. • Property is near the Pensacola International Airport that serves nearly 2 million passengers annually, making it the second busiest airport in North Florida. • Less than 5 miles from University of West Florida with over 10,000 students and staff.
PENSACOLA • Pensacola is one of the largest metropolitan areas in the Gulf Coast region with a population of over 502,000 with close proximity to Mobile, Birmingham, and Atlanta. • Pensacola is home to some of the world’s top ranked resorts and beaches that attract over 2 Million visitors per year that contribute over $820 Million to the economy annually. • Pensacola is home to the Naval Air Station Pensacola, the primary training base for all U.S. Navy Marine Corps and home base for the Blue Angels. This base employs 23,400 military and civilian personnel. • The Port of Pensacola is Northwest Florida’s most diverse and business focused deep-water 265,000 SF port that had a revenue of over $2.5 Million in 2019. • Pensacola has multiple Universities and colleges including the University of West Florida (12,850 Students), Pensacola State College (9,773 Students), Pensacola Christian College (4,712 Students) and more. • Florida is one of 7 U.S. States that has no State Income Tax.
INVESTMENT GRADE TENANT • Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB. • Currently over 17,000 locations and expanding by 1,000 stores each year. • Dollar General has been in business for 80 years and has a current net worth of over $6.2 billion.