NEW UPGRADED BRICK CONSTRUCTION Brand New 9,100 SF Build to Suit Dollar General in South Bend, IN located at the convergence of Hwy 31 (27,703 VPD) and Old Hwy 31 (5,048 VPD) in the heart of the South Bend-Mishawaka MSA. This store has upgraded construction with three-sided Nichiha in crimson with autumn brown sandstone accents throughout and the store opened in August 2018.
SUPERIOR DEMOGRAPHICS LOCATION The 5-Mile population of this location is 125,460 and the average household income is $56,143 which is superior from typical Dollar General locations.
SOUTH BEND, IN South Bend is a city in and the county seat of St. Joseph County, IN on the St. Joseph River. It is the fourth-largest city in Indiana with an estimated population of over 101,735, serving as the economic and cultural hub of Northern Indiana. The highly ranked University of Notre Dame is located just to the north in unincorporated Notre Dame, Indiana and is an integral contributor to the region's economy. Today, the largest industries in South Bend are health care, education, small business, and tourism. Notable businesses, including Honeywell, Bosch, and PEI Genesis. AM General, Crowe Horwath, Martin's Super Markets, and Schurz Communications, all have corporate headquarters in South Bend. Innovation and Ignition Park, new technological developments, have been established as technology centers to attract new industry, concentrating on high-potential technologies and ventures, as well as the commercialization of nanotechnology.
UNIVERSITY OF NOTRE DAME The University of Notre Dame is a Catholic research university founded in 1842, located adjacent to South Bend, Indiana, in the United States. The main campus covers 1,265 acres in a suburban setting and is a large, four-year, highly residential research university with a total student population of 12,393. University of Notre Dame is ranked #15 in US News National Universities rankings. Over 80% of the university's 8,000+ undergraduates live on campus. The football team, an Independent with no conference affiliation, has accumulated eleven consensus national championships, seven Heisman Trophy winners, 62 members in the College Football Hall of Fame, and 13 members in the Pro Football Hall of Fame.
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.