Marcus & Millichap is pleased to present the exclusive listing for the Dollar General located at 176 West State Street, Granby, MA. The property consists of 7,499 square feet of building space and is situated on roughly 3.62 approximately acres of land.
The Dollar General was just constructed and recently opened in March 2020. The property is subject to a brand new 15-year absolute triple-net (NNN) lease with an initial annual rent of $127,744 (subject to slightly change) that is scheduled to increase by 10% in each of the four, five-year renewal options.
Founded in Goodlettsville, Tennessee, Dollar General Corporation has been delivering value to shoppers for over 75 years. Dollar General helps shoppers Save time. Save money. Every day!® by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, clothing for the family, housewares and seasonal items at low everyday prices in convenient neighborhood locations. With over 16,000 stores in 44 states and over $27 billion in annual revenue, Dollar General is among the largest discount retailer.
About the Investment:
✓ Brand New Construction | Build-to-Suit Dollar General
✓ Newly Executed 15-Year Absolute Triple Net (NNN) Lease; Passive Investment Offering a Long-Term Security of Cash Flow
✓ Rental Increases of 10% In Each Option Period
✓ Tenant Renewal Options: Four Periods of Five Years, Each bringing the Potential Lease Term Remaining to 35 Years
✓ Corporate Location | Corporate Guarantee
About the Location:
✓ Surrounding Tenants Include: Dunkin’ Donuts, CVS Pharmacy, Subway, Cumberland Farms, U.S. Postal Service, Florence Bank, and More
✓ The Property is Located Less Than Seven Miles From The Westover Air Reserve Base | Largest Air Force Reserve Base in the Country
✓ Located Within the Five Colleges Consortium | University of Massachusetts Amherst, Amherst College, Hampshire College, Smith College, and Mount Holyoke College
✓ The Property has a Large Population of More Than 330,000 People Within a 10-Mile Radius
About the Tenant/Brand:
✓ Dollar General has an Investment Grade Credit (S&P:BBB)
✓ Lease Guaranteed by Dollar General Corporation (NYSE: DG)
✓ Prime Positioning to Serve its Target Market | Limited to No Competition in the Area
✓ As of July 2020, Dollar General Operates Over 16,720 Stores in 44 States with More Than $27.8 Billion in Sales
✓ Dollar General is Listed as the 123rd Ranked Company on the Fortune 500 List