Strong National Tenant – Corporate Guarantor (NASDAQ: DLTR) – The property is leased to Family Dollar, which was acquired by Dollar Tree, Inc. in July 2015. The combined company has a net worth of $4.40 billion, operates over 13,000 stores, and produces revenues in excess of $18.4 billion, making the Dollar Tree-Family Dollar entity the largest discount retailer in North America.
High Traffic Counts Along Major Retail Corridor (35,000+ VPD) – Dense Infill Loction (95,000 People Within a 3 Mile Radius) – The subject property is located along N. Keystone Ave, which is a major retail/commuter corridor coming in and out of downtown Indianapolis (traffic counts in excess of 35,000 cars per day). The site offers a strong infill population of 95,000 people within a 3-mile radius in addition to an ideal retail synergy. Nearby tenants include McDonald’s, Advance Auto Parts, Walgreens, BP, ALDI, Chase Bank, Aaron’s Rents, CVS, and more.
Build to Suit Construction – Long Operating History – Rent Growth – Family Dollar has operated successfully at this location since the building was constructed in 2005. They have already exercised their first option, reflecting their commitment to the site. The lease features (3) additional five-year options, with 10% rent increases in each option period.
Located in Indianapolos MSA – Only 7 Miles from Downtown CBD – The Family Dollar is located within the Indianapolis MSA, just 7 miles north of Downtown Indianapolis, which is the capital and largest city of the state of Indiana. It is the second largest city in the Midwest and the 15th most populous city in the United States. Contributing to an annual gross metropolitan product of $125.9 billion, the Indianapolis metropolitan area is the 26th largest economic region in the U.S. and the 42nd largest in the world.