Dollar General

Lease & Location Highlights

• 2023 build-to-suit construction for Dollar General with ±12 years remaining on the initial 15-year absolute NNN lease, providing long-term, passive ownership with no landlord responsibilities.
• Initial Term Rent Increases. There are 5% rent increases every five years throughout the primary term and renewal options, providing attractive NOI growth and a built-in hedge against inflation.
• Close proximity to Kensington Valley Outlets, a ±304,000 SF outlet center featuring 45 national retailers and 14M+ annual visitors, generating consistent consumer traffic and supporting surrounding retail demand.
• Fowlerville is strategically positioned along the I-96 corridor, ±27 miles from East Lansing and Michigan State University, home to roughly 50,000 students, and ±31 miles from Lansing, Michigan’s state capital with ±479,000 residents in the Lansing–East Lansing metro area.
• Minimal competition — the nearest national dollar-store competitor is ±8 miles away, allowing Dollar General to maintain a dominant position within the local market.

Tenant Highlights

• Dollar General boasts an investment-grade credit rating of BBB (S&P).
• Dollar General has ±21,000 locations and plans to continue their expansion for the foreseeable future.
• Dollar General has been considered an essential retailer and has proven to be one of the most profitable companies through the COVID-19 pandemic.
• Dollar General has a market cap of ±$20 billion.