Brand NEW UPGRADED CONSTRUCTION STORE Brand New 9,014 SF Build to Suit Dollar General in Fort Wayne, IN on West Washington Center Road (15,952 VPD). This store has upgraded Nichiha on the front façade as well as faux windows and is scheduled for delivery December 2018.
SUPERIOR DEMOGRAPHICS LOCATION The 5-Mile population of this location is 118,305 and the average household income is $59,400 which is superior from typical Dollar General locations.
FORT WAYNE, IN Fort Wayne is located in Northeastern IN and is the county seat of Allen County. With an estimated population of 264,488, Fort Wayne is 77th most populated city in the U.S. and the second largest city in Indiana, after Indianapolis. Once a booming manufacturing town located in what became known as the Rust Belt, Fort Wayne's economy in the 21st century is based upon distribution, transportation and logistics, healthcare, professional and business services, leisure and hospitality, and financial services. The city is a center for the defense industry which employs thousands. The city is beginning a multi-phase development to convert its riverfront into a vibrant tourist and retail area.
HOME TO INDIANA UNIVERSITY – PURDUE UNIVERSITY FORT WAYNE Indiana University – Purdue University Fort Wayne is a coeducational public university in Fort Wayne. The university enrolls 13,459 undergraduate and postgraduate students in nine colleges and schools, including a branch of the Indiana University School of Medicine. Purdue offers more than 200 graduate and undergraduate degree programs through IU or Purdue universities.
LONG TERM CORPORATE NNN LEASE The subject property has a brand new 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 percent 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 that operates over 14,609 locations nationwide with a net worth of over four billion. Dollar General is opening 900 locations this year and currently holds an investment grade credit rating of BBB-/Stable with S&P.