Dollar General | Fort Walton Beach/Destin MSA

Investment Highlights

2023 UPGRADED CONSTRUCTION FLORIDA DOLLAR GENERAL
• 10,640 SF upgraded construction Dollar General located in the panhandle of Florida.
• This Dollar General was built and rent commenced in November 2023

FLORIDA IS A TAX FREE STATE
• Florida is one of seven tax free states in the country.
• Florida is one of the fastest growing states in the country and is adding over 211,000 residents each year.

CRESTVIEW, FL | THE “HUB CITY” OF NORTHWEST FLORIDA
• The subject property is located 10 minutes away from the main retail corridor in Crestview. National tenants within the corridor include Publix, Lowe’s Home Improvement, Walmart, Tractor Supply, and more.
• Crestview is located at the junction of three major highways which resulted in its acclaimed designation as the “Hub City” of Northwest Florida.
• These highways allow its residents to travel less than 30 minutes to the Emerald Coast (7 Million Visitors per year)
• The city is the county seat and its economy is mostly driven by tourism, real estate, military, and manufacturing sectors.

THE EMERALD COAST | FORT WALTON BEACH - DESTIN MSA (7M TOURIST ANNUALLY)
• Crestview is located 30 minutes north of Fort Walton Beach and Destin and is a part of the MSA. Pensacola is also only 45 minutes away from this property.
• The Emerald Coast is the name for the coastal area in Florida which includes Pensacola Beach, Navarre Beach, Fort Walton Beach, Destin, and Panama City Beach.
• Destin is known for its white sand beaches and is responsible for attracting 80% of the 7 million tourists that visit the Emerald Coast each year.
• 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.
• 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 2022.

14 YEAR CORPORATE NNN LEASE
• There are 14 years remaining on a 15-year corporate guaranteed NNN Lease with Dollar General.
• Tenant is 100% responsible for all expenses including taxes, insurance, roof and structure.
• There are 10% rent increases in each of the Five, 5-year option periods.

INVESTMENT GRADE TENANT WITH OVER 20,000 LOCATIONS
• Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Currently over 20,000 locations and plans to open 800 stores in 2024.
• Dollar General has been in business for 80 years and has a current net worth of over $6.2 billion.