family dollar - matthews real estate investment services dollar • cheap rent per square foot:...

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R E T A I L A D V I S O R SOffering MeMOranduM

faMily dOllar 91 central ave, jOhnstOwn, pa 15905

representative photo

Matthews retail advisors

cOnfidentiality & disclaiMer stateMent

this Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of Family Dollar located at 91 Central Ave, Johnstown, PA 15905 (“Property”) . i t has been prepared by Matthews retai l advisors . this Offer ing Memorandum may not be al l - inclusive or contain a l l of the informat ion a prospect ive purchaser may desire. the informat ion contained in th is Offer ing Memorandum is conf ident ia l and furnished solely for the purpose of a review by a prospect ive purchaser of the property. i t is not to be used for any other purpose or made avai lable to any other person without the wri t ten consent of sel ler or Matthews retai l advisors . the mater ia l is based in part upon informat ion suppl ied by the sel ler and in part upon f inancial informat ion obtained from sources i t deems rel iable. Owner, nor their of f icers , employees, or agents makes any representat ion or warranty, express or impl ied, as to the accuracy or completeness of th is Offer ing Memorandum or any of i ts contents and no legal l iabi l i ty is assumed or shal l be impl ied with respect thereto. prospect ive purchasers should make their own project ions and form their own conclusions without rel iance upon the mater ia l contained herein and conduct their own due di l igence.

By acknowledging your receipt of th is Offer ing Memorandum for the property, you agree:

1 . the Offer ing Memorandum and i ts contents are conf ident ia l ;

2 . you wi l l hold i t and treat i t in the str ictest of conf idence; and

3. you wi l l not , d i rect ly or indirect ly, d isclose or permit anyone else to disclose this Offer ing Memorandum or i ts contents in any fashion or manner detr imental to the interest of the sel ler.

Owner and Matthews retai l advisors expressly reserve the r ight , at their sole discret ion, to reject any and al l expressions of interest or of fers to purchase the property and to terminate discussions with any person or ent i ty reviewing this Offer ing Memorandum or making an of fer to purchase the property unless and unt i l a wr i t ten agreement for the purchase and sale of the property has been ful ly executed and del ivered.

i f you wish not to pursue negot iat ions leading to the acquis i t ion of the property or in the future you discont inue such negot iat ions, then you agree to purge al l mater ia ls relat ing to th is property including this Offer ing Memorandum.

a prospect ive purchaser ’s sole and exclusive r ights with respect to th is prospect ive t ransact ion, the property, or informat ion provided herein or in connect ion with the sale of the property shal l be l imited to those expressly provided in an executed purchase agreement and shal l be subject to the terms thereof. in no event shal l a prospect ive purchaser have any other c la ims against sel ler or Matthews retai l advisors or any of their af f i l iates or any of their respect ive of f icers , directors , shareholders, owners, employees, or agents for any damages, l iabi l i ty, or causes of act ion relat ing to th is sol ic i tat ion process or the market ing or sale of the property.

this Offer ing Memorandum shal l not be deemed to represent the state of af fa i rs of the property or const i tute an indicat ion that there has been no change in the state of af fa i rs of the property s ince the date this Offer ing Memorandum.

EXCLUSIVELY LISTED BY: ryan O’connellBroker of record license no. Br575729000

chad KurzManaging partner direct +1.310.919.5850 MOBile +1.310.480.2937 [email protected] license no. 01911198

Josh Bishop senior associate direct +1.310.919.5823 MOBile +1.315.730.6228 [email protected] license no. 01940394

Table of ContentsPrICIng & FInAnCIAL AnALYSIS

investment highlights.................................................................... 2executive summary.........................................................................3company Overview .......................................................................4

PrOPErTY DESCrIPTIOnphysical description .......................................................................7Birds eye ........................................................................................... 8regional Map ................................................................................... 9tenant Map......................................................................................10

DEmOgrAPhICScity Overview | johnstown, pa .................................................. 14demographics report .................................................................. 15

Matthews retail advisors


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pricing & financial Analysis

OFFERING MEMORANDUM | Family Dollarp. 2 Matthews retail advisors

PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS


Investment Highlights

• Building completely renovated in 2007

• strong 9.50% return On a stable investment

• proven location; family dollar extended their lease for an additonal 5-years

• strong location directly across from johnstown senior high school

• up-side potenital: 6,000 sf of vacant space above family dollar

• cheap rent per square foot: $7.37/sf

• rent-to-sales ratio: 5.38%

• four (4) - five (5) year Options w/ 10% rent increases

• located On a hard signalized corner

• traffic counts in excess Of 15,000 vehicles per day

• + 11,100 residents within a 1-Mile radius



• average household income ideal for family dollar

• family dollar was recently acquired By dollar tree; now the nation’s largest discount retailer

rep photo

Matthews retail advisors p. 3Family Dollar | OFFERING MEMORANDUM



Executive Summary

annualized Operating dataMonthly rent annual rent rent/sf cap rate

current - 6/30/2019 $5,800.00 $69,600.00 $7.37 9.50%

Option 1 - 6/30/2024 $6,380.00 $76,560.00 $8.11 10.45%

Option 2 - 6/30/2029 $7,018.00 $84,216.00 $8.92 11.50%

Option 3 - 6/30/2034 $7,719.80 $92,637.60 $9.82 12.64%

Option 4 - 6/30/2039 $8,491.78 $101,901.36 $10.80 13.91%

tenant summary

tenant trade name family dollar stores, inc.

type of Ownership fee simple

lease guarantor corporate

lease type nn

roof and structure landlord responsible

Original lease term 7 years

rent commencement date july 2007

lease expiration date june 30, 2019

term remaining on lease 3.60 years

increases 10% in Options

Options four (4) - five (5) year Options

faMily dOllar91 central ave jOhnstOwn, pa 15905

list price ............................................................................................. $732,630cap rate - current .................................................................................. 9.50%gross leasable area ......................................................................... 9,438 sflot size ...................................................................± 0.49 acres ( 21,236 sf)year renovated ...........................................................................................2007

actual property




Company Overview

property name family dollar

property type net leased discount store

parent company trade name dollar tree. inc.

Ownership public

revenue $10.49B

net income $284.5M

stock symbol dltr

Board nyse

no. of locations ± 13,000

no. of employees ± 65,000

headquartered Matthews, nc

web site www.familydollar.com

year founded 1959

family dollar stores, inc. operates a chain of self-service retail discount stores

primarily for low- and middle-income consumers in the united states. its

merchandise assortment includes consumables, such as household chemicals,

paper products, food products, health and beauty aids, hardware and

automotive supplies, pet food and supplies, and tobacco; and home products

comprising blankets, sheets, towels, housewares, giftware, and home décor

products. the company also provides apparel and accessories consisting of

men’s and women’s clothing products, boys’ and girls’ clothing products,

infants’ clothing products, shoes, and ashion accessories; and seasonal and

electronic products, such as toys, stationery and school supplies, and seasonal

goods, as well as personal electronics, including pre-paid cellular phones and

services.

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prOperty DESCrIPTIOn



Physical Description

the Offering

property name .................................................................................. family dollar

property address .......................................................................... 91 central ave

johnstown, pa 15902

site descriptiOn

number of stories .............................................................................................One

year renovated ................................................................................................2007

gross leasable area (gla) ....................................................................9,438 sf

lot size..........................................................................± 0.49 acres ( 21,236 sf)

type of Ownership ...............................................................................fee simple

plandscaping ......................................................................................professional

topography ................................................................................... generally level

cOnstructiOn

foundation .......................................................................................concrete slab

exterior ............................................................................................ painted stucco

parking surface ............................................................................................asphalt

roof ........................................................................................................................flat





Bird’s Eye

traffic counts

central ave & dupont st +15,052 vpd



Regional Map

Local Map



Tenant Map

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demographics


PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS

City Overview | Johnstown, PA

johnstown is a city in cambria county, pennsylvania, located 3 miles south-west of altoona and 67 miles east of pittsburgh. the population was 20,978 at the 2010 census and estimated to be 20,402 in 2013. it is the principal city of the johnstown, pennsylvania, Metropolitan statistical area.

johnstown is home to two high schools and three colleges. the univer-sity of pittsburgh at johnstown and pennsylvania highlands community college attract thousands of students to their contiguous campuses in richland. cambria-rowe Business college, located in the Moxham section of johnstown, offers concentrated career training and has continuously served johnstown since 1891. the pasquerilla performing arts center, a concert/theatrical venue at the university of pittsburgh at johnstown, at-tracts high-quality performers.

vision 2025 is a community-based effort that has created a vision around bettering our community through a strategic focus around three core ar-

eas: a vibrant local economy, life-sustaining landscapes, and a strong sense of community, all guided by an inclusive good governance model.

visioning is the first step in seeing where to go and de-ciding how to get there. it’s working in large places such as pittsburgh and in smaller pennsylvania communities such as Media. now is the time for johnstown.



Demographics Reportpopulation 1-Mile 3-Mile 5-Mile2020 projection 9,896 40,222 61,8992015 estimate 10,404 41,605 63,7432010 census 11,104 43,531 66,3412000 census 12,673 47,952 71,735growth 2015-2020 -12.38% -9.22% -7.52%growth 2010-2015 -6.31% -4.43% -3.92%growth 2000-2010 -4.88% -3.32% -2.89%

households2020 projection 4,474 18,540 27,9932015 estimate 4,688 19,069 28,6572010 census 4,985 19,785 29,5632000 census 5,689 21,081 30,977growth 2015-2020 -12.37% -6.15% -4.56%growth 2010-2015 -5.95% -3.62% -3.06%growth 2000-2010 -4.56% -2.77% -2.32%

income$0 - $15,000 25.85% 19.11% 18.25%$15,000 - $24,999 14.72% 13.80% 13.68%$25,000 - $34,999 14.11% 12.64% 12.67%$35,000 - $49,999 14.24% 15.39% 15.65%$50,000 - $74,999 18.35% 18.12% 17.64%$75,000 - $99,999 6.80% 9.40% 9.81%$100,000 - $124,999 2.71% 5.03% 5.49%$125,000 - $149,999 1.12% 2.47% 2.59%$150,000 - $199,999 1.17% 1.91% 2.02%$200,000 - $249,999 0.52% 0.81% 0.86%$250,000 - $499,999 0.33% 1.00% 1.01%$500,000+ 0.07% 0.33% 0.32%2015 est. average household income $41,725 $53,277 $54,4062015 est. Median household income $31,682 $39,339 $40,178

Matthews retail advisors | 841 apollo street, suite 150 | el segundo, ca 90245 | www.Matthews.com

FAmILY DOLLAr91 central avejohnstown, pa 15902Offering MeMOranduM

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Josh Bishop senior associate direct +1.310.919.5823 MOBile +1.315.730.6228 [email protected] license no. 01940394

ryan O’connellBroker of record license no. Br575729000

chad KurzManaging partner direct +1.310.919.5850 MOBile +1.310.480.2937 [email protected] license no. 01911198

family dollar - matthews real estate investment services dollar • cheap rent per square foot:...

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