dollar general

CONFIDENTIAL OFFERING MEMORANDUM
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DOLLAR GENERAL
14004 LAKERIDGE CIRCLE, MAGALIA, CA 95954
Josiah Byrnes
(719) 243-6569
JByrnes@EmbreeGroup.com
CONFIDENTIALITY AGREEMENT
TABLE OF CONTENTS
The information contained herein is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Embree Group and should not be made available to any
other person or entity without the written consent of Embree Group (the Embree Group collectively
refers to Embree Capital Markets Group, Inc., Embree Asset Group, Inc., Embree Healthcare Group,
Inc., and Embree Construction Group, Inc.). This Brochure has been prepared to provide summary
information to prospective investors and to establish a preliminary level of interest in establishing
an investment relationship with Embree, which may or may not include the sale or purchase of any
specific property referenced herein. Several Embree Group employees are licensed real estate
agents and brokers in various states.
PROPERTY AND LEASE SUMMARY
3
TENANT PROFILE
4
PROPERTY PHOTOGRAPHS
5
SITE PLAN
6
LOCATION OVERVIEW
8
The subject property is currently under construction and photos shown herein are representative
only. The information contained herein is not a substitute for a thorough due diligence investigation. Embree Group has supplied information in this Brochure from sources we believe are reliable;
however, all potential Buyers and Investors must take appropriate measures to investigate and verify the income and expenses for any specific property, the future projected financial performance of
any specific property, the size and square footage of any specific property and its improvements,
the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State
and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant or any tenant’s plans or intentions to continue its occupancy of any specific property.
Embree Group reserves the right to withdraw this solicitation at any time without prior notice. The
information contained herein is based upon sources deemed to reliable, but the accuracy of the
information is not guaranteed, nor should the information contained herein be considered all inclusive. Statements contained herein which involve matters of opinion, whether or not identified to be
that only, are not representations of fact. The price and terms of this offering may be subject to
change
at any time.
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DEMOGRAPHICS
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CONTACT
11
PROPERTY AND LEASE SUMMARY | 3
INVESTMENT OVERVIEW
ADDRESS
TENANT
GUARANTOR
BUILDING SIZE
CONSTRUCTION TYPE
LAND SIZE
2
14004 Lakeridge Circle, Magalia, CA 959543
4
Dolgen California, LLC
Dollar General Corporation
5
Approximately 9,026 rentable square feet
6
Structural steel and split-face concrete masonry
Approximately 1.44 acres
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ASSET CLASS
OFFERING
Embree Capital Markets Group is pleased to offer for sale a high-quality,
single-tenant, net-leased discount retail asset. The property will be newly
built in 2015 and is being offered free and clear of any debt. It is a unique
opportunity for an investor to acquire a well-located, investment-grade,
credit-tenant asset in a desirable California geography.
LOCATION DESCRIPTION
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Magalia (formerly Butte Mills and Dogtown) was originally established
as a mining camp after the 1849 California Gold Rush. The population
of the area is approximately 11,000. Magalia is located in Butte County
about 5 miles north of Paradise and 90 miles north of Sacramento.
ANNUAL RENT
CAP RATE
PURCHASE PRICE
Single-tenant, net-leased retail
$147,858
6.00%
$2,464,000
EST. COMMENCEMENT
January 24, 2015
EST. LEASE END
January 23, 2030
PRIMARY LEASE TERM
LEASE TYPE
15 years
NNN (no landlord responsibilities)
LEASE ESCALATIONS
10% during each option period
RENEWAL OPTIONS
Three 5-year options
TENANT PROFILE | 4
Dollar General Corporation (NYSE: DG) is the nation's largest "small-box" discount
retailer, operating over 11,000 stores in 40 states as of June 2014.
Based in Goodlettsville, Tennessee, the company was founded in 1939 and has
weathered 12 technical recessions.
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COMPANY TYPE
Public (NYSE: DG)
2013 REVENUE
$17 billion+
STORE COUNT
11,000+
EMPLOYEES
S&P CREDIT RATING
WEBSITE
100,000+
BBBwww.dollargeneral.com
The company makes shopping for everyday needs simpler and hassle free by
offering a carefully edited assortment of the most popular brands at low everyday
prices in small, convenient locations. Dollar General ranks among the largest retailers of top-quality brands made by America's most-trusted manufacturers, such
as Procter & Gamble, Kimberly Clark, Unilever, Kellogg's, General Mills and
Nabisco.
Most of the company's products are priced at $10 or less, with approximately 25%
priced at $1 or less. Consumables is their largest category and includes paper and
cleaning products, food (including packaged and perishables), beverages and
snacks, health and beauty products, and pet supplies.
24 consecutive years of same-store sales growth.
Dollar General was ranked #164 in the Fortune 500 in 2014, with over $17 billion
in sales.
PROPERTY PHOTOGRAPHS | 5
INTERIOR VIEW
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PROPERTY PHOTOGRAPHS | 6
EXTERIOR VIEW
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PROPERTY PHOTOGRAPHS | 7
SITE PLAN
LOCATION OVERVIEW | 8
STATE CONTEXT MAP
AREA CONTEXT MAP
MAGALIA, CA
MAGALIA, CA
Source: Google
Source: Google
LOCATION OVERVIEW | 9
SITE CONTEXT
CITY CONTEXT MAP
10,000 VPD
DOLLAR GENERAL
12,000 VPD
1,000 VPD
Source: Google
Source: Google
DEMOGRAPHICS | 10
RADIUS
1 MILE
3 MILE
5 MILE
POPULATION
RADIUS
1 MILE
3 MILE
5 MILE
HOUSEHOLDS
2018 Projection
4,401
17,769
32,992
2018 Projection
1,893
7,746
14,657
2013 Estimate
4,280
17,417
32,407
2013 Estimate
1,835
7,562
14,353
2010 Census
4,203
17,235
32,159
2010 Census
1,800
7,464
14,205
Growth 2013-2018
0.56%
0.40%
0.36%
Growth 2013 - 2018
0.62%
0.48%
0.42%
292
1,141
2,235
Owner Occupied
1,373
5,647
9,809
Renter Occupied
463
1,915
4,544
2013 Avg Household Income
$53,201
$56,533
$56,636
2013 Med Household Income
$44,286
$42,343
$41,622
2013 Population Hispanic Origin
2013 POPULATION BY RACE
White
3,895
15,962
29,570
Black
14
62
133
Am. Indian & Alaskan
38
206
402
Asian
34
168
348
<$25,000
424
2,029
3,976
Hawaiian & Pacific Island
4
20
32
$25,000 - $50,000
594
2,285
4,360
218
817
1,674
$50,000 - $75,000
466
1,565
2,760
$75,000 - $100,000
168
675
1,258
$100,000 - $150,000
154
732
1,433
$150,000 - $200,000
20
152
312
$200,000+
9
124
253
Other
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2013 HOUSEHOLDS BY HOUSEHOLD INCOME
ABOUT & CONTACT | 11
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ABOUT EMBREE
The Embree Group of Companies provide nationwide turnkey real estate services, specializing
in build-to-suit development, design/build, general construction, program management, and
capital markets for specialty retail, financial, automotive, restaurant, pharmacy, and medical
facilities. Embree’s fully integrated, in-house services allow us to become an extension of the
tenant's organization. Since 1979, Embree’s foundation has been built on developing tailored
programs for 300+ national clients. The firm is headquartered near Austin, Texas, with regional
offices located in Arizona, Colorado, and California. Over the past 35 years, Embree’s executive
team has developed, built, or transacted more than 10,000 assets in all 50 states and Canada
with a total market value in excess of $10 billion.
FOR FURTHER INQUIRIES
PLEASE CONTACT:
Josiah Byrnes
(719) 243-6569
JByrnes@EmbreeGroup.com