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INVESTMENT HIGHLIGHTS
Investment Grade Credit - The lease is backed by Dollar Tree, Inc. (NASDAQ: DLTR), which has reported total annual sales exceeding $26 billion and carries investment grade credit ratings of BBB-/ Stable and Baa 2/Stable from S&P and Moody’s, respectively.
Recent Renewals - Both Dollar Tree and GoAuto Insurance renewed their leases in 2023 for an additional period of five (5) years, reaffirming their commitment to operating at this location.
Strong Retail Corridor - The property is located in a plaza as an outparcel to the Bon Carré business center on Florida Boulevard, and adjacent to Lobdell Blvd. Florida Blvd is a major retail corridor including retailers such as Regions Bank, KFC, Rouses Market, and more. Additionally, the property is located only 6 minutes from the Baton Rouge Community College which featured 11,120 students for the Fall '23 semester.
Strong Demographics - The property is located in Baton Rouge, LA. The site is just off of Florida Blvd, a major roadway with a traffic count over 40,000 cars per day. The area is home to over 76,663 people within a 3-mile radius and a median HH income of $42,330
Below Market Rents - At the current rate of $8.14 PSF, Dollar Tree is paying approximately 40% below the current retail sub-market rent per CoStar analytics.
1031 Price-Point - The price point for this asset is ideal for an all-cash and/or 1031 investor; this offering presents an opportunity to acquire an asset leased to an investment-grade tenant with strong yield.
Baton Rouge MSA - Baton Rouge is the capital of Louisiana and its second-largest city. It is located on the eastern bank of the Mississippi River and has an estimated population of 227,715. The metropolitan area surrounding the city, known as Greater Baton Rouge, is also the second largest in Louisiana, with a population of 870,000 people as of 2020.
