TWO TENANT STRIP CENTER • The property is a two-tenant strip center leased to investment grade tenants in Pikeville, KY • Dollar General is an original tenant and just executed a renewal that will expire in 2030 • Walgreens is an original tenant and just recently executed a 5-year renewal
DOLLAR GENERAL | 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 18,200 locations and expanding by 1,050 stores each year. • Dollar General has been in business f or 80 years and has a cur rent net worth of over $6.2 billion.
WALGREENS | INVESTMENT GRADE TENANT • Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the U.S. and Europe with 9,277 stores in all 50 states. • Walgreens is publicly traded (WBA: NYSE) with a net w orth in excess of $110 billion. • Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investmentgrade rated each with a Standard & Poor’s rating of BBB.
PIKEVILLE KENTUCKY • Pikeville is a city in and the c ounty seat of Pike County, Kentucky and located and 96 miles nor th of Kingsport, KY and 142 miles east of Lexington, KY • The city has been a c enter of rapid development in Eastern Kentucky since the 1990s. Pikeville College (now the University of Pikeville) opened the Kentucky College of Osteopathic Medicine in 1997 along with the Kentucky College of Optometry, the first optometry school in Central Appalachia, in the fall of 2016. • In October 2005, the 7,000 seat, multi-purpose Appalachian Wireless Arena opened in downtown. • Pikeville Medical Center has established itself as a r egional healthcare center. In 2014, a new 11-story clinic and a 10 -story parking structure was completed at a cost of $150 million. The hospital has also bec ome a member of the Mayo Clinic Care Network. • In 2017, construction has begun on a 60 ,000 square foot manufacturing facility to be owned and operated by SilverLiner, whose primary business is expected to be the manufacture and assembly of tank s for tanker trucks. • In 2018, Pikeville’s City government was named 2018 KLC City Government of the Year by the Kentucky League of Cities. This w as the inaugural year for the award and was intended to recognize “a city that has done something transformational and our first ever recipient certainly demonstrates a city making a huge impact on its region.