NEWLY RENOVATED 2023 POPSHELF • Popshelf is a Dollar General Brand located in affluent suburban areas focused on home décor, seasonal entertaining and health & beauty products. 95% of the items are priced below $5.00. • Dollar General plans to expand their new Popshelf concept at a rapid pace with over 1000+ locations planned by 2025. • Popshelf is renovating a 11,204 SF former Walgreens and rent will commence in January 2023. • Renovations include improvements to the Roof, HVAC, store front & interior, parking lot, painting, landscaping.
ACROSS FROM A WALMART SUPERCENTER & A FOOD LION SHOPPING CENTER • The subject property is located at the signalized hard corner of Hwy 42 (11,000 VPD) and McCauley Dr (3,800 VPD) in the main retail area of Timberville, VA. • This Popshelf is positioned directly across the street from a Walmart Supercenter and a Food Lion Anchored Shopping Center. • The closest Walmart competition is nearly 30 minutes away which means this location draws from a large trade area of surrounding markets. • Additional national retailers include Advance Auto Parts, Hardees, AutoZone, 7-Eleven, Verizon Wireless and more.
HARRISONBURG MSA • Timberville is located 15 miles north of downtown Harrisonburg off Interstate 81 (38,000 VPD) • Harrisonburg is in the Shenandoah Valley region of Virginia and is the county seat of Rockingham County with a total MSA population of 126,562. • Home to James Madison University, a public research university with an enrollment of over 20,000 students that contributes $480 million to Rockingham County per year. • With Access to the Shenandoah National Park, Harrisonburg sees over 1.7 million visitors per year. • National Retail in Harrisonburg include Target, Home Depot, Walmart, Costco Wholesale, Kroger and many more.
NEW 15-YEAR LEASE GUARANTEED BY DOLLAR GENERAL CORP • Brand new 15-year lease guaranteed by Dollar General Corporation • Tenant is responsible for HVAC, Utilities, Insurance, Taxes and Parking Lot Reimbursement. • Landlord is responsible for Roof & Structure and Parking Lot. Landlord will receive $400/month in CAM. • There are 10% 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 with an S&P investment grade credit rating of BBB. • Popshelf currently has 80 open locations and plans to open over 1000 stores by 2025. • Dollar General currently has over 18,600 locations and expanding by 1,000 stores each year. • Dollar General has been in business for 80 years and has a current net worth of over $54.5 billion.