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Property
Details
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Description: A 9,100 square foot build-to-suit retail store for Dollar General. Non-prototype "country store" design.
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Site: 1.33 acre corner site with approximately 195 feet of frontage on US Hwy 17 in McClellanville, SC. McClellanville is a quaint fishing village located between Charleston and Georgetown on the coast of South Carolina.
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Lease: Ten (10) years net lease commencing July 1, 2009. Expiration June 30, 2019 at the following annual rental rates:
| $93,000 | Years
1-10 | | | $102,300 | Years
11-15 | (Option
1) | | $112,530 |
Years
16-20 | (Option
2) | | $123,783 |
Years
21-25 | (Option
3) | | $136,161 |
Years
26-30 | (Option
4) | | $149,777 |
Years
31-35 | (Option
5) |
Tenant
responsible for taxes and insurance (full pass-throughs) and interior maintenance
(to include glass). Landlord responsible for roof/structure, parking lot (unless
damage caused by tenant). Landlord is reimbursed $300 per month for exterior maintenance (primarily landscaping and sweeping parking lot) in year one. Reimbursement is adjusted after year one according to actual costs incurred.
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Dollar
General Store
US Hwy 17 @ Leland Creek Rd
McClellanville SC
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Price: $1,162,500
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Build-to-suit for Dollar General occupancy in July 2009. Ten year net lease with five 5-year options.
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Dollar General was founded in 1955. The company currently operates over 8,200
corporate stores in 32 states, primarily in the Southern, Eastern and Midwestern
United States. They have also expended into the Southwestern US. Sales for the
last twelve months were in excess of $9.1 Billion. On
March 12, 2007 Kohlberg Kravis Roberts (KKR), a large NYC-based private-equity
firm, offered to purchase Dollar General for approximately $7.3 Billion. The Dollar
General board unanimously approved the deal and recommended that shareholders
vote for it. shareholders approved the transaction in May and the sale closed
on July 6, 2007.
• Non-prototype "country store" design
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Improvements measure 9,100 square feet. On-site parking for 35 automobiles.
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Excellent 1031 exchange or investment opportunity. For
more information contact:
Robert
P. Wilkins, Jr.
Southern
Visions Realty, Inc.
955 Old Cherokee Road,
Lexington SC
29072
803.359.9571 |
