Lease & Location:

• ±224,230 residents within a 5-mile radius, providing a dense and stable consumer base for continued retail demand.
• Current lease rate remains below market at under $10 per square foot, offering potential for long-term rental upside.
• Tenant has demonstrated strong location commitment by exercising a 7-year lease extension well in advance of the original term expiration.
• Lease includes structured rent growth, with a scheduled $1.00 per square foot increase during each option period, enhancing income predictability.
• Situated at a hard signalized intersection of School Street and Burnside Avenue, the property benefits from high visibility and accessibility, with traffic volumes of approximately ±12,400 vehicles per day.
• Positioned on a large parcel with durable all-brick construction, reducing long-term capital expenditure requirements and supporting asset longevity.

 

Tenant:

• National Tenant Strength – Dollar Tree, which acquired Family Dollar in 2015, is the second-largest discount retailer in the U.S., operating over ±16,000 locations nationwide.
• Tenant outperformed during the COVID-19 pandemic, experiencing notable increases in same-store sales and profitability.
• Dollar Tree operates a recession-resilient business model, catering to value-driven consumers and demonstrating consistent performance during economic downturns.