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INVESTMENT HIGHLIGHTS
Investment Grade Tenant - 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 Baa2/Stable from S&P and Moody’s, respectively.
Strong Retail Corridor - The property is located as an outparcel to a retail plaza along Louisville Ave. Louisville Ave is a major retail corridor including retailers such as Walmart, Rent-A-Center, Office Depot, and more.
Zero Landlord Responsibilities - Dollar Tree is operating under an Absolute NNN lease, in which the tenant is responsible for all expenses relating to the property including taxes, insurance, CAM, roof and structure.
Recent Renovations - A complete renovation of both the interior and exterior occurred in 2023 as the tenant updated the store to meet new prototype standards signaling Dollar Tree's continued commitment to this site. Additionally, Dollar Tree renewed their lease for an additional period of five (5) years in 2023.
Below Market Rent - At the current rate of $8.85 PSF, Dollar Tree is paying approximately 34% below the current retail sub-market rent per Costar analytics.
Target Demographic - The property is located in Monroe, LA. The site is just off of Louisville Ave, a major roadway with traffic counts over 20,000 VPD. The area is home to over 48,000 people within a 3-mile radius and an average HH income of $62,235.
