305 W Kingsfield Rd Cantonment (Pensacola MSA), FL
Building Size: 9,100 SF
Lot Size:1.37 AC
NEW UPGRADED DOLLAR GENERAL • Brand new 9,100 SF build to suit Dollar General located in Cantonment (Pensacola MSA), FL. • This store has upgraded construction and is scheduled for delivery in September 2021.
PENSACOLA SUBURB • The subject property is 16 miles North of Pensacola off of Hwy 297A (14,000 VPD). • Pensacola is one of the largest metropolitan areas in the Gulf Coast region with a population of over 502,000. • 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.
NEAR INTERSTATE 10 • The subject property is approximately 3 miles from I-10 (88,500 VPD) which is the fourth longest interstate in the US at 2,460 miles. • This Dollar General is positioned at the intersection of Hwy 297A (14,000 VPD) and E Kingsfield Rd (6,700 VPD). • Surrounding national retailers include Publix, Home Depot, Tractor Supply, Lowe’s Home Improvement, McDonalds, and more. • The 5-mile population is 48,488 and nearly 15% growth. • 2 miles away from multiple industrial plants including the Fortune 500 company, International Paper that employs over 450 people. • Multiple schools are located within 2 miles of the property including Tate High School (2,177 Students), Ransom Middle School (1,309 Students), and Kingsfield Elementary School (775 Students).
NEW 15 YEAR CORPORATE NNN LEASE • Brand new 15-year corporate guaranteed NNN lease with Dollar General. • Tenant is 100% responsible for all expenses including taxes, insurance, CAM, roof and structure. • There are 10% rent increases in each of the four, 5-year option periods.
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 17,266 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.