OFFERING CONFIDENTIAL - DOLLAR GENERAL - Embree Group of Companies
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CONFIDENTIAL
OFFERING
MEMORANDUM
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DOLLAR GENERAL
NEW 2019 CONSTRUCTION
4785 E. Church Ave. | Fresno, CA 93725 -1-
[OFFERING]
EXCLUSIVE
PRESENTED BY:
$2,675,000 $153,792
PURCHASE ANNUAL
PRICE RENT
5.75% 10.00%
JOSIAH BYRNES KLINTON LEWIS
CAP LEASE VICE PRESIDENT ASSOCIATE-NET LEASE SERVICES
RATE ESCALATIONS
AT OPTIONS
Josiah Byrnes serves as Vice President of Klinton Lewis serves as Associate of Net Lease
Embree Capital Markets Group, Inc., where Services with Embree Capital Markets Group,
he helps guide the formation and execution Inc., where he is responsible for marketing
SINGLE-TENANT NNN INVESTMENT of diversified real estate capital structures current assets, new developments, and
and investment strategies for individual, private client’s commercial real estate
NEW 2018 CONSTRUCTION institutional, and international investors, properties. Klinton also provides investment
developers, and tenants. advice to clients, and is focused on new
and existing client business development.
NEW 15-YEAR LEASE TERM Josiah joined Embree Group of Companies
in 2010. He received BA and MBA degrees Prior to joining the Embree Capital Markets
from the University of Colorado, as well as a Group Inc., Klinton served as a real estate
Master of Real Estate Development Degree agent specializing in single-tenant, net-lease
from Arizona State University. properties, with Marcus & Millichap in
Austin, Texas.
+1.719.243.6569 +1.512.819.4729
jbyrnes@embreegroup.com klewis@embreegroup.com
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[ CONFIDENTIALITY
STATEMENT ]
The information contained herein is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from the Embree
Group of Companies (Embree Group) and should not be made available to any other person or entity without the written consent of the 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 the Embree Group, 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.
The information contained herein is not a substitute for a thorough due diligence investigation. The 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.
The 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 be 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.
The Embree Group is not affiliated with, sponsered by, or endorsed by any commercial tenant or lessee identified in this marketing package. The
presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation
of the Embree Group, its affiliates or subsidiaries, or any agent, product, or commercial listing of The Embree Group, and is solely included for the
purpose of proving tenant lessee information about this listing to prospective customers.
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TABLE OF CONTENTS
Property & Lease Details
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Tenant Profile
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Elevations & Site Plans
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Maps & Aerials
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Demographic Analysis
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Contact
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[LEASE DETAILS]
PROPERTY &
THE OFFERING
PROPERTY ADDRESS 4785 E. Church Ave. Fresno, CA 93725
TENANT Dolgen California, LLC
GUARANTOR Dollar General Corporation
SITE DESCRIPTION
BUILDING SIZE Approximately 7,489 rentable square feet
LAND SIZE Approximately 1.14 acres
CONSTRUCTION TYPE Structural steel and split-face concrete masonry
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OFFERING OVERVIEW INVESTMENT SUMMARY
Embree Capital Markets Group is pleased to offer for sale a high-quality, ASSET CLASS Single-tenant, net-leased retail
single-tenant, net-leased discount retail asset. The property was newly built in
2019 and is being offered free and clear of any debt. It is a unique opportunity for
ANNUAL RENT $153,792
an investor to acquire a well-located, investment-grade, credit-tenant asset in CAP RATE 5.75%
a desirable California geography.
PURCHASE PRICE $2,675,000
AREA DESCRIPTION EST. COMMENCEMENT 2/23/2019
Fresno is a city in California, United States, and the county seat of Fresno County. It EST. LEASE END 2/28/2034
covers about 112 square miles in the center of the San Joaquin Valley, the southern
portion of the California’s Central Valley. The population of Fresno grew from a 1960
PRIMARY LEASE TERM 15-years
census population of 134,000 to a 2000 census population of 428,000. With a cen- LEASE TYPE NNN (no landlord responsibilities)
sus-estimated 2017 population of 527,438, Fresno is the fifth-most populous city in
California, the most populous city in the Central Valley, the most populous inland LEASE ESCALATIONS 10% at options
city in California, and the 34th-most populous city in the nation. Fresno is near the
geographical center of California. It lies approximately 220 miles north of Los An- RENEWAL OPTIONS Three, 5-Year
geles, 170 miles south of the state capital, Sacramento, and 185 miles southeast of
San Francisco. Yosemite National Park is about 60 miles to the north, Kings Canyon
National Park is 60 miles (100 km) to the east, and Sequoia National Park is 75 miles
to the southeast.
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[PROFILE]
TENANT
Dollar General Corporation (NYSE: DG) is the nation’s largest “smallbox”
discount retailer, operating over 15,015 stores in 44 states as of August
2018.
In the first half of 2018, Dollar General opened 510 new stores, remodeled
643 stores, and relocated 67 stores.
Dollar General Opened a company record of 1,315 new stores and executed
2,079 total real estate projects in 2017. The company plans to open approx-
imately 900 new stores, remodel 1,000 stores, and relocate 100 stores in
2018 for a total of 2,000 real estate projects.
Based in Goodlettsville, Tennessee, the company was founded in 1939 and
has weathered 12 technical recessions.
PROTOTYPE PHOTO The company makes shopping for everyday needs simpler and hassle free
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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,
INVESTMENT SUMMARY General Mills and Nabisco.
COMPANY TYPE PUBLIC (NYSE: DG) Most of the company’s products are priced at $10 or less, with approximately
2017 NET SALES $23.5 billion+ 25% priced at $1 or less. Consumables is their largestcategory and includes
paper and cleaning products, food (includingpackaged and perishables),
2017 NET INCOME $1.54 billion+ beverages and snacks, health and beauty products, and pet supplies.
STORE COUNT 15,015+
Dollar General Corporation (NYSE: DG) has experienced 27 consecutive years
EMPLOYEES 129,000+ of same-store sales growth (0.9% increase). Fiscal year same-store sales in-
creased 2.7% in 2017.
S&P CREDIT RATING BBB
Dollar General was ranked #123 in the Fortune 500 in 2018 (#128 in 2017),
WEBSITE www.dollargeneral.com
with approximately $23.5 billion in sales (6.8% increase from 2016).
Moody’s recently upgraded Dollar General Corporation’s credit rating from
Baa3 to Baa2 on June 1, 2016.
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[ SITE PLANS ]
ELEVATIONS &
7,489 SF
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[ SITE PLANS ]
ELEVATIONS &
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[OVERVIEW]
LOCATION
STATE
AREA
FRESNO, CA
FRESNO, CA
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[AERIAL]
CITY
rD ay)
i c l es Pe
eh
,0 00 V
(154
180
DOWNTOWN
3.1
5M
ile
s
(121,000 Vehicles Per Day)
41
- 10 -[AERIAL] SITE
S. Chestnut Ave. (12,000 Vehicles Per Day)
Terronez Middle
School
E. Church Ave (8,000 Vehicles Per Day)
Sierra Garden
Apartments
Aynesworth
Elementary School
- 11 -[ DEMOGRAPHIC
ANALYSIS ]
POPULATION 1 MILE 3 MILE 5 MILE
2018 Population 17,527 109,294 228,238
CALIFORNIA
2023 Projection 18,229 116,014 241,913
2010 Census 17,504 104,697 218,652
Growth 2018-2023 0.8% 1.3% 1.3% FRESNO
HOUSEHOLDS
2018 Households 4,817 28,907 62,707
2023 Projected
5,003 30,797 66,792
Households INCOME 1 MILE 3 MILE 5 MILE
Growth 2018-2023 2.3% 1.4% 1.0%
Avg. Household Income $38,226 $45,746 $45,949
Owner Occupied 2,142 13,261 27,029
$25,000-$29,999 385 2,094 4,479
Renter Occupied 2,675 15,647 35,678
$35,000-39,999 295 1,481 3,290
$45,000-$49,999 227 1,165 2,565
$55,000-$59,999 136 924 2,174
RACE/ETHNICITY
$65,000-$69,999 137 915 1,730
Caucasian 6,296 42,831 92,330 $80,000-$89,999 143 887 1,936
African American 1,509 7,954 19,584 $100,000-$125,000 180 1,023 2,582
Am. Indian & Alaskan 89 563 1379 $500,000+ 3 30 90
Asian 3,127 17,201 35,117
DAY
Hawaiian & Pacific Islander 31 102 204
Hispanic 11,091 70,205 137,925 Businesses 147 1,515 4,162
Other 6,95 41,308 81,207 Employees 3,723 30,635 83,900
- 12 -FRESNO, CALIFORNIA | OFFERING MEMORANDUM
EXCLUSIVELY PRESENTED BY:
JOSIAH BYRNES | VICE PRESIDENT
JByrnes@EmbreeGroup.com | +1.719.243.6569 | www.EmbreeGroup.com
KLINTON LEWIS | ASSOCIATE NET LEASE SERVICES
KLewis@EmbreeGroup.com | +1.512.819.4729 | www.EmbreeGroup.com
ABOUT EMBREE
Embree Group of Companies provides 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, healthcare and senior living facilities. Embree’s fully
integrated, in-house services allow us to become an extension of the client’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 Phoenix and Dallas. Over the past
39 years, Embree’s executive team has developed, built, or transacted more
than 12,000 assets in all 50 states, Puerto Rico, and Canada with a total market
value in excess of $10 billion.
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