NEW UPGRADED CONSTRUCTION STORE • Brand new upgraded 9,100 SF build-to-suit Dollar General in Pace, FL. • This store is currently under construction and scheduled for delivery in September 2019.
PENSACOLA MSA • Pace is located 15 miles northeast of downtown Pensacola and is part of the Pensacola MSA, which is the 10th largest MSA in Florida (pop. 487,784). • Pensacola is home to the University of West Florida (12,850 students) and Pensacola State College (9,655 students). • Known as the "Cradle of Naval Aviation," Pensacola is home to the first U.S. Naval Air Station, the Naval Aviation Museum and the Blue Angels flight demonstration team. • Tourism in the Pensacola area generates over $780M per year.
FLORIDA INCOME TAX FREE STATE • Florida is one of only seven states that has no state income tax.
LONG TERM CORPORATE NNN LEASE • Brand new 15-year corporate guaranteed lease with Dollar General. • Tenant is 100% responsible for all expenses, which include taxes, CAM, insurance, roof and structure. • 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 and is BBB investment grade rated. • Currently over 15,000 locations in 45 states and 975 new locations expected to be opened this year. • Dollar General has been in business for 79 years and has a current net worth of over $6B.