PopShelf

Investment Highlights

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.