Trophy Dollar General Portfolio – FL
Fortis Net Lease is pleased to present a four store Dollar General portfolio, with sites being located in Davenport, Winter Haven, Cape Coral, and Punta Gorda, Florida. The properties all saw rent commence in the 3rd quarter of 2013, and are each encumbered with a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The leases contains four (5) Yr. options to renew, each with a 10% rental rate increase. The leases are corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, and is classifed Investment Grade. The new owner will take pride in the upgraded architecture and construction on each store, being built out of EIFS Stucco and Split Block Brick. The portfolio must be purchased as a whole, with the buyer assuming the loan that has a current balance of $5,416,461. The assumable loan is non-recourse, and offers a 10 Year Fixed Term (From may of 2014), 4.92% Interest Rate on a 30 year amortization Schedule. Assumption fee is equal to 1% of Loan Balance.
Four Newer Absolute NNN Dollar Generals (Zero Responsibilities)
15 Year Term | Four (5 Yr.) Options, 10% Bumps at Each
Corporate Guarantee by DG which carries “BBB” Rating
Average 5 Mile Population of all Properties 57,671
Average 1 Mile Household Income of all Properties $62,369
Upgraded Architecture (Brick & EIFS Stucco)