FAMILY DOLLAR
FAMILY DOLLAR BENNETTSVILLE, SC PURCHASE PRICE CAP
$1,246,700 7.5%
Ed Breslin, Director Broker License #01338414 KW Commercial 2701 Ocean Park Blvd., Suite 240 Santa Monica CA 90405 310.774.3790 Direct Offi ce 310.943.0437 Direct Fax 310.254.4177 Mobile [email protected] In conjunction with SC licensed broker: Josh Schaap, KW Commercial 496 Bramson Court, Suite 200 Mt. Pleasant, SC
CONFIDENTIAL DISCLAIMER
This Confidential Memorandum has been prepared by KW Commercial KW Commercial (“KWC”) and is being furnished to you solely for the purpose of your review of the commercial property located at 123 Highway 15-401, Bypass, Bennettsville SC 29512 (the “Property”). The material contained in this Off ering Memorandum shall be used for the purposes of evaluating the Property for acquisition and shall not be used for any purpose or made available to any other person without the express written consent of KW Commercial (“Broker”). By accepting the Confidential Memorandum, you acknowledge and agree that: (1) all of the information contained herein and any other information you will be receiving in connection with this transaction, whether oral, written or in any other form (collectively, the “Materials”), is confidential; (2) you will not reproduce the Confidential Memorandum in whole or in part; (3) if you do not wish to pursue this matter, you will return this Confidential Memorandum to KWC as soon as practicable together with all other materials relating to the Property which you may have received from KWC; and (4) any proposed actions by you which are inconsistent in any manner with the foregoing agreements will require the prior written consent of KWC. This Confidential Memorandum has been prepared by KWC, based upon certain information pertaining to the Property and any information obtained from KWC to assist interested parties in making their own evaluation of the Property is offered on a no representation or warranty provision other than customary warranties of title and is sold on an “as-is, where-is” basis and with all faults. The material and transaction does not purport to be all inclusive. This Confidential Memorandum contains descriptive materials, fi nancial information and other data compiled for the convenience of parties interested in the Property. The Materials are being delivered by KWC to prospective investors with the understanding that it is not all inclusive and that it is qualified in its entirety by independent investigation by prospective investors of those matters which they deem appropriate in evaluating this off ering without reliance upon KWC, the Broker or any of their respective affiliates or any of the information set out in the Materials. Neither KWC, the Broker, nor any of their respective affi liates have independently verified any of the information contained herein or in any of the Materials, and no representations or warranties as to the accuracy or completeness thereof or of any other kind whatsoever are made or intended and none should be inferred. KWC, for itself and its affi liates of the Property, expressly disclaim any and all liability for statements or representations, express or implied, contained herein or for omissions from the Materials or for any other written, oral or other format of communication transmitted to a prospective investor in the course of its evaluation of the proposed transaction. All summaries and discussions of documentation and/or financial information contained herein are qualified in their entirety by reference to the actual documents and/or financial statements, which upon request may be made available. The terms and conditions described herein are subject to change without notice. This Confidential Memorandum does not constitute an off er to accept any investment proposal but is merely a solicitation of interest with respect to the investment described herein. The Confidential Memorandum does not constitute an offer of security. The investment described herein may be financed or withdrawn from the market, without prior notice. By accepting this Confidential Memorandum you agree to release KWC and hold it harmless from any kind of claim, expense, or liability arising out of your discovery or purchase of the Property. KWC reserves the right to request the return of the Materials at any time. Ownership of the Property reserves the right to negotiate with one or more prospective investors at any time.
INVESTMENT HIGHLIGHTS
KW Commercial is pleased to offer for sale to qualified investors a Family Dollar Store build-to-suit property with a long-term lease, located at 123 Highway 15-401, Bypass, Bennettsville, South Carolina. The property is currently under construction and the lease is estimated to commence August 2014. The property is offered under a Brand New Ten (10) Year Lease Term, with Six (6), Five (5) Year Renewal Options with 10% increases beginning in each option period. The subject property is located on US Highway 15-401 Bypass in Bennettsville, South Carolina. Bennettsville is the county seat of Marlboro County and is located approximately 80 miles northeast of Columbia, SC. The subject property is located in close proximity to national retailers and restaurants including: Burger King, Community Bank, Holiday Inn Express, Food Lion, Exxon, Pizza Hut, Shell Gas and McDonald’s. Reported traffic counts on US Highway 15-401 Bypass are 12,400+/- ADT.
The property is 100% leased to Family Dollar Stores of South Carolina, Inc. Brand New Relocation Store. Ideal demographics for a dollar store and proven successful location. Building will be a newer, larger prototype for Family Dollar (9,200 SF). Brand New Ten (10) Year Lease Term that will commence in August 2014 (est.) Six (6), Five (5) Year Renewal Options with 10% increases in each option period. As of August 2013, Family Dollar Stores, Inc. had revenues of $10.3 billion, a net income of $443 million and a net worth in excess of $1.6 billion. The company currently maintains an investment grade S&P rating of BBB-. Bennettsville is a city located in the U.S. state of South Carolina on the Great Pee Dee River. The county seat of Marlboro County, it has historic homes and buildings from the 19th and early 20th centuries. The Bennettsville Historic District has been listed on the National Register of Historic Places.
LEASE ABSTRACT 123 Highway 15-401, Bypass, Bennettsville SC 29512 Tenant:
Family Dollar Stores of South Carolina, Inc. Offering Price: $1,246,700 Offering Cap Rate: 7.50% Annual Rent (NOI): $93,503 Rentable SF: +/- 9,200 SF Lot Size: +/- 1.0 acre Lease Commencement: 8/1/14 Lease Expiration: 3/31/24 Base Lease Term: New Ten (10) Year Lease Renewal Options: Six (6) (5-year) Options Rental Increases:
Expenses:
10% every Five (5) years in option periods NN, Landlord responsible for roof and structure.
Years
Annual Rent
1 - 10 11 - 20 21 - 25 26 - 30 31 - 35 36 - 40 41 - 45
(Current) $93,503 (Option 1) $102,853 (Option 2) $113,139 (Option 3) $124,453 (Option 4) $136,898 (Option 5) $150,588 (Option 6) $165,647
TENANT OVERVIEW
LOCATION OVERVIEW
Family Dollar Stores, Inc. (NYSE: FDO) operates a chain of self-service retail discount stores primarily for low and middle income consumers in the United States. The store chain deals in food items, clothing and assorted household products.
Bennettsville is a city located in the state of South Carolina. It is the county seat of Marlboro County and home to the Bennettsville Historic District.
As of June 28, 2012, the company had approximately 7,200 stores in rural and urban settings across 45 states. Family Dollar Stores, Inc. was founded in 1959 and is headquartered in Matthews, North Carolina. In 2001, Family Dollar joined the S&P 500 stock market index and in 2002, the company joined the Fortune 500 list of largest publicly held companies. Family Dollar operates nine distribution centers to keep product stock in their stores. These warehouses feature over 900,000 square feet of room and over nine miles of conveyor, and employ around 400 people. On October 3, 2012, Family Dollar announced they will open 500 stores in 2013. Family Dollar also announced they will become partners with the well-being improvement company, Healthways in 2013.
According to the 2000 census, Bennettsville has a population of 9,425. Bennettsville is located between Columbia and Fayetteville (I-20 to 15-401 to Fayetteville) and Charlotte and Myrtle Beach (NC 74 to SC 52 to SC 9 to Myrtle Beach). In 1819, the town of Bennettsville was established and named in honor of Thomas Bennett, then governor of South Carolina. Bennettsville quickly grew into one of the richest agricultural communities in the state. The State of South Carolina recognized Bennettsville’s prominence by designating it South Carolina’s first “G.R.E.A.T. Town” (Governor’s Rural Economic Achievement Trophy). The subject property is located on Dr Martin Luther King Jr Hwy (9,700 VPD). It offers high visibility and easy access to community residents. Surrounding retail tenants include: Food Lion, McDonads, Pizza Hut, Burger King, Advance Auto Parts, and Piggly Wiggly, among others.
MAP
AERIAL PHOTO
Business district
Traffic Counts
SITE PLAN
DEMOGRAPHIC AREA
DemoGraphics
CONTACT
Ed Breslin, Director KW Commercial 2701 Ocean Park Blvd, Suite 240 Santa Monica CA 90405 310.774.3790 Direct Office 310.943.0437 Direct Fax 310.254.4177 Mobile [email protected]
Listed in conjuction with SC Licensed Broker: Josh Schaap KW Commercial 496 Bramson Court, Suite 200 Mt. Pleasant, SC
$1,246,700 7.5%
Ed Breslin, Director Broker License #01338414 KW Commercial 2701 Ocean Park Blvd., Suite 240 Santa Monica CA 90405 310.774.3790 Direct Offi ce 310.943.0437 Direct Fax 310.254.4177 Mobile [email protected] In conjunction with SC licensed broker: Josh Schaap, KW Commercial 496 Bramson Court, Suite 200 Mt. Pleasant, SC
CONFIDENTIAL DISCLAIMER
This Confidential Memorandum has been prepared by KW Commercial KW Commercial (“KWC”) and is being furnished to you solely for the purpose of your review of the commercial property located at 123 Highway 15-401, Bypass, Bennettsville SC 29512 (the “Property”). The material contained in this Off ering Memorandum shall be used for the purposes of evaluating the Property for acquisition and shall not be used for any purpose or made available to any other person without the express written consent of KW Commercial (“Broker”). By accepting the Confidential Memorandum, you acknowledge and agree that: (1) all of the information contained herein and any other information you will be receiving in connection with this transaction, whether oral, written or in any other form (collectively, the “Materials”), is confidential; (2) you will not reproduce the Confidential Memorandum in whole or in part; (3) if you do not wish to pursue this matter, you will return this Confidential Memorandum to KWC as soon as practicable together with all other materials relating to the Property which you may have received from KWC; and (4) any proposed actions by you which are inconsistent in any manner with the foregoing agreements will require the prior written consent of KWC. This Confidential Memorandum has been prepared by KWC, based upon certain information pertaining to the Property and any information obtained from KWC to assist interested parties in making their own evaluation of the Property is offered on a no representation or warranty provision other than customary warranties of title and is sold on an “as-is, where-is” basis and with all faults. The material and transaction does not purport to be all inclusive. This Confidential Memorandum contains descriptive materials, fi nancial information and other data compiled for the convenience of parties interested in the Property. The Materials are being delivered by KWC to prospective investors with the understanding that it is not all inclusive and that it is qualified in its entirety by independent investigation by prospective investors of those matters which they deem appropriate in evaluating this off ering without reliance upon KWC, the Broker or any of their respective affiliates or any of the information set out in the Materials. Neither KWC, the Broker, nor any of their respective affi liates have independently verified any of the information contained herein or in any of the Materials, and no representations or warranties as to the accuracy or completeness thereof or of any other kind whatsoever are made or intended and none should be inferred. KWC, for itself and its affi liates of the Property, expressly disclaim any and all liability for statements or representations, express or implied, contained herein or for omissions from the Materials or for any other written, oral or other format of communication transmitted to a prospective investor in the course of its evaluation of the proposed transaction. All summaries and discussions of documentation and/or financial information contained herein are qualified in their entirety by reference to the actual documents and/or financial statements, which upon request may be made available. The terms and conditions described herein are subject to change without notice. This Confidential Memorandum does not constitute an off er to accept any investment proposal but is merely a solicitation of interest with respect to the investment described herein. The Confidential Memorandum does not constitute an offer of security. The investment described herein may be financed or withdrawn from the market, without prior notice. By accepting this Confidential Memorandum you agree to release KWC and hold it harmless from any kind of claim, expense, or liability arising out of your discovery or purchase of the Property. KWC reserves the right to request the return of the Materials at any time. Ownership of the Property reserves the right to negotiate with one or more prospective investors at any time.
INVESTMENT HIGHLIGHTS
KW Commercial is pleased to offer for sale to qualified investors a Family Dollar Store build-to-suit property with a long-term lease, located at 123 Highway 15-401, Bypass, Bennettsville, South Carolina. The property is currently under construction and the lease is estimated to commence August 2014. The property is offered under a Brand New Ten (10) Year Lease Term, with Six (6), Five (5) Year Renewal Options with 10% increases beginning in each option period. The subject property is located on US Highway 15-401 Bypass in Bennettsville, South Carolina. Bennettsville is the county seat of Marlboro County and is located approximately 80 miles northeast of Columbia, SC. The subject property is located in close proximity to national retailers and restaurants including: Burger King, Community Bank, Holiday Inn Express, Food Lion, Exxon, Pizza Hut, Shell Gas and McDonald’s. Reported traffic counts on US Highway 15-401 Bypass are 12,400+/- ADT.
The property is 100% leased to Family Dollar Stores of South Carolina, Inc. Brand New Relocation Store. Ideal demographics for a dollar store and proven successful location. Building will be a newer, larger prototype for Family Dollar (9,200 SF). Brand New Ten (10) Year Lease Term that will commence in August 2014 (est.) Six (6), Five (5) Year Renewal Options with 10% increases in each option period. As of August 2013, Family Dollar Stores, Inc. had revenues of $10.3 billion, a net income of $443 million and a net worth in excess of $1.6 billion. The company currently maintains an investment grade S&P rating of BBB-. Bennettsville is a city located in the U.S. state of South Carolina on the Great Pee Dee River. The county seat of Marlboro County, it has historic homes and buildings from the 19th and early 20th centuries. The Bennettsville Historic District has been listed on the National Register of Historic Places.
LEASE ABSTRACT 123 Highway 15-401, Bypass, Bennettsville SC 29512 Tenant:
Family Dollar Stores of South Carolina, Inc. Offering Price: $1,246,700 Offering Cap Rate: 7.50% Annual Rent (NOI): $93,503 Rentable SF: +/- 9,200 SF Lot Size: +/- 1.0 acre Lease Commencement: 8/1/14 Lease Expiration: 3/31/24 Base Lease Term: New Ten (10) Year Lease Renewal Options: Six (6) (5-year) Options Rental Increases:
Expenses:
10% every Five (5) years in option periods NN, Landlord responsible for roof and structure.
Years
Annual Rent
1 - 10 11 - 20 21 - 25 26 - 30 31 - 35 36 - 40 41 - 45
(Current) $93,503 (Option 1) $102,853 (Option 2) $113,139 (Option 3) $124,453 (Option 4) $136,898 (Option 5) $150,588 (Option 6) $165,647
TENANT OVERVIEW
LOCATION OVERVIEW
Family Dollar Stores, Inc. (NYSE: FDO) operates a chain of self-service retail discount stores primarily for low and middle income consumers in the United States. The store chain deals in food items, clothing and assorted household products.
Bennettsville is a city located in the state of South Carolina. It is the county seat of Marlboro County and home to the Bennettsville Historic District.
As of June 28, 2012, the company had approximately 7,200 stores in rural and urban settings across 45 states. Family Dollar Stores, Inc. was founded in 1959 and is headquartered in Matthews, North Carolina. In 2001, Family Dollar joined the S&P 500 stock market index and in 2002, the company joined the Fortune 500 list of largest publicly held companies. Family Dollar operates nine distribution centers to keep product stock in their stores. These warehouses feature over 900,000 square feet of room and over nine miles of conveyor, and employ around 400 people. On October 3, 2012, Family Dollar announced they will open 500 stores in 2013. Family Dollar also announced they will become partners with the well-being improvement company, Healthways in 2013.
According to the 2000 census, Bennettsville has a population of 9,425. Bennettsville is located between Columbia and Fayetteville (I-20 to 15-401 to Fayetteville) and Charlotte and Myrtle Beach (NC 74 to SC 52 to SC 9 to Myrtle Beach). In 1819, the town of Bennettsville was established and named in honor of Thomas Bennett, then governor of South Carolina. Bennettsville quickly grew into one of the richest agricultural communities in the state. The State of South Carolina recognized Bennettsville’s prominence by designating it South Carolina’s first “G.R.E.A.T. Town” (Governor’s Rural Economic Achievement Trophy). The subject property is located on Dr Martin Luther King Jr Hwy (9,700 VPD). It offers high visibility and easy access to community residents. Surrounding retail tenants include: Food Lion, McDonads, Pizza Hut, Burger King, Advance Auto Parts, and Piggly Wiggly, among others.
MAP
AERIAL PHOTO
Business district
Traffic Counts
SITE PLAN
DEMOGRAPHIC AREA
DemoGraphics
CONTACT
Ed Breslin, Director KW Commercial 2701 Ocean Park Blvd, Suite 240 Santa Monica CA 90405 310.774.3790 Direct Office 310.943.0437 Direct Fax 310.254.4177 Mobile [email protected]
Listed in conjuction with SC Licensed Broker: Josh Schaap KW Commercial 496 Bramson Court, Suite 200 Mt. Pleasant, SC
