Family Dollar 10+ Year NN Investment Opportunity for Sale - 1831 Cannons Campground Rd. | Greenville-Spartanburg-Anderson, SC CSA - LoopNet
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Family Dollar 10+ Year NN Investment Opportunity for Sale 1831 Cannons Campground Rd. | Greenville-Spartanburg-Anderson, SC CSA Representative Photo
Table of Contents
FOR FURTHER INFORMATION
1831 Cannons Campground Rd.
Joe Boyd Spartanburg, SC
office 843.973.8283
mobile 843.906.7751 Property Information..................................................... 3
web joe@twinriverscap.com
Locator Map................................................................ 4,5
High Aerial...................................................................... 6
125-G Wappoo Creek Drive Mid Aerial....................................................................... 7
Charleston, SC 29412
Site Plan......................................................................... 8
phone (843) 722.9925
fax (843) 722.9947 Survey............................................................................. 9
web twinriverscap.com Elevations..................................................................... 10
Tenant & Lease Information....................................... 11
Financials..................................................................... 12
Demographics & Business Overview........................ 13
About Us....................................................................... 14
Property Information
Property and Location
Highlights
> HIGHLY DESIRABLE, RECESSION PROOF, ECOMMERCE RESISTANT SPARTANBURG, SC
INVESTMENT GRADE TENANT
Spartanburg is part of a 10-county region of northwestern SC known as
> HIGH SALES PROJECTION STORE
“The Upstate,” and is located 98 miles northwest of Columbia, 80 miles
> EXCELLENT VISIBILITY AT SIGNALIZED INTERSECTION west of Charlotte, NC, and about 190 miles northeast of Atlanta, GA. A
> +220’ OF FRONTAGE ON MAJOR ARTERIAL ROAD major employer in Spartanburg is the BMW Spartanburg factory, which
employs around 8,800 people with an average daily output of about
> NO DIRECT COMPETITION
1,400 vehicles. Spartanburg is also home of the world headquarters
> GROWING AREA for Milliken & Company, a textile and chemical manufacturer; Wofford
> HIGH DAYTIME WORK FORCE College; and the headquarters for Denny’s restaurants.
> EXPERIENCING RAPID GROWTH & INCREASE IN TRAFFIC COUNTS DUE TO
NEW PUBLIC SCHOOLS & NEW RESIDENTIAL GROWTH
> NEW $185M SPARTANBURG HIGH SCHOOL (OPENING FALL 2019)
> NEW $40M DRAYTON MILL ELEMENTARY SCHOOL (OPENED FALL 2018)
> NEWLY ACQUIRED SPARTANBURG MEDICAL CENTER - MARY BLACK
CAMPUS ACROSS FROM SITE
> SEVERAL NURSING HOMES IN THE IMMEDIATE AREA
> DEMOGRAPHICS 1 Mile 3 Mile 5 Mile
Population 2018 2,984 28,226 71,941
Projected Population 2023 3,158 29,572 75,006
Average HHI $48,813 $73,321 $59,186
LOTS APPROVED NEAR FLOYD RD.
EXTENSION & SKYLYN DR., BEHIND
SPARTANBURG MEDICAL CENTER
77 (NEW 18.6-ACRE DEVELOPMENT CALLED
DILLON VILLAGE)
Locator Map SPARTANBURG, SC
Locator Map SITE
High Aerial
The Waterford at Dillon Pointe Spartanwood Neighborhood
60+ homes Summit Hills Retirement Center
senior living
Charles Lea Center 47 residents
200 individuals in program PD
00V
400 staff 8,8
d.
Fl
Charles Lea Center dR
oy
n
rou
d
200 individuals in program
pg
Rd
400 staff am
.8
C
ns
,1
o
00
nn
Ca
VP
New Approved Subdivision
D
Dillon Village
77 homes
New Spartanburg High School
$185 million
will have 2,500 students and 200 faculty/staff
McCarthy Teszler School
SITE
232 students
160 faculty/staff
Skylyn Drive
Presbyterian Church
Spartanburg Medical Center
Mary Black Campus
D
Pacifica Senior Living Skylyn
VP
332 beds
173 residents
00
4,2
r. 1
New Drayton Mills Elementary School
Spartanburg Day School
nD
$40 million
450 students
yly
combining Houston & Chapman Elementary
Sk
opened Fall 2018
750 students and 80 faculty/staff
District 7 Administrative Offices,
Student Services, Technology Department,
and Spartanburg County Adult EducationMid Aerial
Spartanwood Neighborhood Summit Hills Retirement Center
60+ homes
Fl PD
Foothills Nephrology oy 00V
d 8,8
Associates Rd d.
.8 ndR
,1
00 rou
VP pg
Cam
Grady D ns
o
Orthopaedics nn
Devore Bobo Ca
Dermatology Funeral Chapel
Carolina
Neurology
Cancer Center
of the Carolinas The Prescription
The Waterford at Dillon Pointe Center
senior living
Hospice Care 47 residents
of SC
Spartanburg Skylyn Medical
Eye Clinic Associates
SITE
D
VP
Spartanburg Medical Center
Mary Black Campus
00
4,2
332 beds
New Approved Subdivision
.1
Dr
Dillon Village
lyn
77 homes
y
Sk
Pacifica Senior Living Skylyn
173 residentsSite Plan
A B C D E F G H I J K L M N
Plot Date: Friday, October 19, 2018 12:09:34 PM
SCDOT GENERAL NOTES
CONTRACTOR TO MARK 1. DEFINITIONS: THE WORD "PERMITTEE"
CENTERLINE OF SIGHT DISTANCE WHOM THIS PERMIT IS ADDRESS
LINE IN FIELD. ONCE MARKED, THE WORD "DEPARTMENT" SHAL
MARTHA RUT
NOTIFY SCDOT INSPECTOR FOR H 2. NOTICE PRIOR TO STARTING WORK: BE
TAX MAP 7-09 MULLINAX
VERIFICATION -02-002.00 HIGHWAY RIGHT OF WAY, THE DE
CN PROPOSED WORK IS LOCATED S
WORK IS UNDER WAY.
DANNY N. TAY 3. PERMIT SUBJECT TO INSPECTION: THIS
N30° 03' 13"E LOR
TAX MAP 7-09
-02-004.00 IS UNDER WAY AND MUST BE SH
.0 60.28 SEE ENTRANCE
R30 CROSS SECTION
OFFICER ON DEMAND.
4. PROTECTION OF HIGHWAY TRAFFIC: TH
PROFILE.
S 54°23'14" ALFRED L. TRAFFIC AT ALL TIMES DURING T
E 494.50' TENNYSON
TAX MAP 7-09
-02-006.00 PERMITTED HEREIN. DETOURS, B
R1
USE SCDOT AND AT THE EXPENSE OF THE PE
PAVEMENT CONTROL DEVICES" (MUTCD). TH
SECTION WITHIN POSSIBLE INCONVENIENCE TO T
R50.0
RIGHT OF WAY AD REGULATIONS OF THE DEPARTM
PRECAUTIONS THAT CIRCUMSTA
DY 5. STANDARDS OF CONSTRUCTION: ALL W
ST
SHALL BE PERFORMED IN A WOR
R1 MAINTAINING THE PROPER DRAI
DW 5.0
HEREIN. ALL WORK SHALL BE SU
AH 6. FUTURE MOVING OF PHYSICAL APPUR
PROPOSED PROPERTY LINE BECOME NECESSARY TO MOVE
S54° 23' 14"
LP E CONTEMPLATED HEREIN, ON AC
330.50 FOR ANY OTHER SUFFICIENT RE
EXPENSE OF THE PERMITTEE.
.0
R3 EP
5
0.0 7. RESTORATION OF HIGHWAY FACILITIE
R1
PHYSICAL APPURTENANCES CON
15' SIDE SETBAC
K THE DEPARTMENT OR AT THE OP
SE RESTORED TO THEIR ORIGINAL C
PS 25' BUFFER 8. COSTS: ALL WORK IN CONNECTION WIT
CN APPURTENANCES CONTEMPLAT
±386'
9. ADDITIONAL PERMISSIONS:
AH (A) IT IS DISTINCTLY UNDERSTOO
LINE OF SIGHT =
LAWFULLY POSSESSED BY
RIGHTS, AS NECESSARY, F
(B) THE PERMITTEE SHALL BE RE
SE INSTALLATION OF THE ENC
N30° 03' 13"E
LH LP
0 (C) THERE SHALL BE NO EXCAVA
0.
211.34
R2 EP APPURTENANT FACILITY E
PERMISSION OF THIS DEPA
DS OR APPURTENANT FACILIT
10. ADDITIONAL WORK PERFORMANCE:
LP 8 AH
HD CB (A) ALL CROSSINGS OVER THE H
SE PF
LP OVERHEAD CROSSINGS OF
DS
AND OVER HIGHWAY RIGH
OF SOUTH CAROLINA AND
PROPOSED DUAL 5' GATES
LH (B) ALL TUNNELING, BORING, OR
40' FRONT SETBACK
AS SURFACING.
7 AS (C) NO PAVEMENT SHALL BE CUT
(D) NO EXCAVATION SHALL BE N
SE CB
AUTHORIZED HEREIN.
210.73'
WS
(E) UNDERGROUND FACILITIES W
CANNONS CAMPGROUND ROAD
MANUAL" FOR THE TRANSM
5' BUFFER
SE SW TRANSMITTANT, 3 FEET MI
S 42-31 66' R/W (35 MPH)
46" W
ADEQUATE PROTECTION IS
(F) SERVICE AND OTHER SMALL
AH WS SE
S 39°25'
THE PAVEMENTS ON ANY S
HIGHWAY PAVEMENT AND
AS WITHOUT JOINTS.
11. ACCESS:
PF (A) PERMITTEE IS RESPONSIBLE
AS CONSTRUCTION.
(B) IT IS EXPRESSLY PROVIDED T
TBACK
LH
8
HAVE OR GAIN ACCESS FR
FACILITY, EXCEPT UPON AP
AR SE
8
12. DRIVEWAYS:
LP
LH (A) THE EXISTING CROWN OF TH
20' RE
(B) IF THE DRIVEWAY OR APPRO
HS INCHES THICK AND WITH A
JOINT, NOT LESS THAN 3/4
H1
THE APPROACH FOR THE F
13. BEAUTIFICATION:
(A) ALL TREES, PLANTS, FLOWER
HS SE
STIPULATED HEREIN.
(B) ALL TREES, PLANTS, FLOWER
PROVISIONS OF THIS PERM
EP 15' SIDE SETBAC
SE K MAINTAIN SAID TREES, PLA
14. AS-BUILT PLANS:
(A) THE APPLICANT SHALL PROV
campground rd_spartanbug sc\02-design\dwg\02-civil\fd_cannon campground_sc(10)
5' BUFFER
CONTRACTOR TO MARK
296.00' THE REQUIREMENTS SET F
RIGHTS OF WAY".
CENTERLINE OF SIGHT DISTANCE
15. WATER QUALITY:
LINE IN FIELD. ONCE MARKED, N 54°24'12"
NOTIFY SCDOT INSPECTOR FOR W 913.73' (A) ALL ITEMS IN SECTION 10D OF
ASSOCIATE DESIGN HAVE BEEN STUDI
VERIFICATION D REFORM
PRESBYTER PHASES (CONSTRUCTION A
IAN CHURCH
DEED BOOK
34 THE SCDOT SYSTEM AND/O
TAX MAP 7-09 S, PAGE 95 617.73'
-06-013.00 16. SIGNAGE: ROAD CONSTRUCTION SIG
CAMPGROUND RD USE 500 FT SI
17. WORK SCHEDULE: NO ROADWAYS LIS
18. SHOULDER CLOSURE: ANY WORK REQ
4 610-205-00 FOR SHOULDER CLOS
Scale: 1" = 4'
1. LANDSCAPING MUST NOT BLOCK VISIBILITY OF SIGNAGE BETWEEN 9:00 AM TO 3:00 PM.
2. CONTRACTOR TO REFER TO THE MOST CURRENT EDITION OF THE Scale: 1" = 20' 19. DRAINAGE STATMENT: THERE WILL BE
SCDOT STANDARD DRAWINGS ENTRANCE CROSS SECTION 0 20
SIGHT DISTANCE (Cannons Campground 3. OWNER SHALL BE RESPONSIBLE FOR THE MAINTENANCE OF
Rd): DRIVEWAYS & OTHER ACCESS POINTS, INCLUDING ANY DRAINAGE
0
ISD = 1.47*35(mph)*7.5(Passenger Car) = STRUCTURES, & SIDEWALKS FOR AREAS WITHIN THE RIGHTS OF
386' Minimum 840 840
WAYS OF STATE MAINTAINED FACILITIES IN PERPETUITY.
EX EOPSurvey
Elevations
Tenant & Lease Information
TENANT PROFILE LEASE INFORMATION
> Initial lease term of 10+ years to 2030
Tenant: Family Dollar Stores of South Carolina, LLC
> Six 5-year options increasing at 5% each option period
Dollar Tree, a Fortune 200 Company which acquired Family Dollar in July, 2015,
now operates more than 15,000 stores across 48 states and five Canadian prov- > Landlord responsibilities = structural repairs (interior/exterior), parking
area repairs
inces. Stores operate under the brands of Dollar Tree, Dollar Tree Canada, Deals,
and Family Dollar with a Market Capitalization of $25 billion.
Dollar Tree is the nation’s leading operator of fixed price-point stores, selling
everything for $1 or less, and Family Dollar is a leading national operator of multi
price-point stores offering merchandise generally ranging in price from $1-$10
including consumables, home products, apparel and accessories, electronics,
and seasonal goods to primarily low and middle-income consumers in convenient
neighborhood stores. The Company intends to retain and to grow both banners
going forward and will optimize the combined real estate portfolio.
> Corporate Guarantee by Family Dollar, Inc. a Subsidiary of Dollar Tree
> Financial Strength: Investment grade.
> Amazon (e-commerce) Proof: Discount stores are being described as “immune
to e-commerce” due to their focus on convenience and small store formats
(source: eMarketer Inc., a leading market research company)
> Dollar Tree reported $5.64 billion in net sales in its most recent quarter
> The combined Dollar Tree and Family Dollar company operates more than
15,000 stores nationwide, making it the largest dollar-store chain in the U.S. by
store count
> The combined company has sales of over $19 billion a year
> Family Dollar continues as a wholly-owned subsidiary of Dollar Tree
NYSE: DLTRFinancials
Rent Roll Price Summary
Tenant: Family Dollar Stores of South Carolina, LLC Price $1,428,285
Guarantor: Family Dollar Stores, Inc. Cap Rate 7.0%
NN Lease
NOI $99,980
1831 Cannons Campground Rd., Spartanburg, SC 29307
BUILDING LEASE START/ RENT PER MONTHLY ANNUAL
TENANT OPTIONS
SQ FT EXPIRATION SQ FT RENT RENT
10 years initial
2019 / term with six
8,320 Years 1-10 Years 1-10
Family Dollar $12.02 5-year options
SF March 31, 2030 $8,331.67 $99,980
increasing
at 5% each
option periodDemographics & Business Overview
DEMOGR APHICS BUSINESS
Spartanburg is a vibrant community featuring a multi-cultural environment BMW, Milliken, Denny’s Michelin, Toray, AFL, Kobelco, American Credit
(compliments of its status as an international business leader of the South), Acceptance, Draexlmaier, Trelleborg, Advance America, Adidas Group, and
award-winning schools, seven colleges, lush parks and proximity to the Indorama all reside in Spartanburg. Spartanburg County offers businesses
nearby Blue Ridge Mountains. an excellent transportation system, including highways, rail and truck lines,
Greenville-Spartanburg International Airport, and proximity to the Port of
Chalreston. Spartanburg’s location at the crossroads of two major interstate
highways, I-85 and I-26, make it a top choice.
37,375 284,305 138,675
POPULATION POPULATION 110+
CITY OF SPARTANBURG SPARTANBURG COUNTY TOTAL LABOR FORCE INTERNATIONAL COMPANIES
LEADING INDUSTRIES
(# of jobs)
37 $45,219 26,648
Manufacturing
15,699
Retail Trade
MEDIAN AGE MEDIAN HOUSEHOLD
INCOME
21,757 11,174
Government Accommodation &
Food ServicesAbout Us
TRC provides national retailers YOUR TWIN RIVERS CAPITAL
CONTACT
with a comprehensive solution for Joe Boyd
Joe is responsible for all property and asset
growing their business by developing management and is also involved in property
sales.
new locations. With over 25 years of experience in property
management, Joe has served as Property
Manager for numerous lifestyle centers and
super-regional malls, including properties held
by Madison Marquette Realty Services, CBL
TWIN RIVERS CAPITAL, LLC Properties and The Jacobs Group.
Joe received his Bachelor’s Degree from Grove
Twin Rivers Capital, LLC is a privately held real estate investment, development City College and his MBA from Indiana
and brokerage company, founded in 2002 and headquartered in Charleston, SC. University of Pennsylvania. He received his CSM
Focusing on the growth regions of the Southeastern US, TRC provides national in 1995, his CMD in 1997 and his SC Realtor’s
retailers with a comprehensive solution for adding new locations. TRC has License in 2008.
developed more than 1.2 million SF of real estate with values of nearly
$200 million. TRC also handles third party brokerage, including tenant and
landlord representation and investment brokerage services in FL, GA, SC, NC, VA, OFFICE 843.973.8283
TN and AL. MOBILE 843.906.7751
Build to Suit • JV Programs • Preferred Developer for National Retailers EMAIL joe@twinriverscap.com
Brokerage • Fee Development Programs
WEB twinriverscap.com
FAMILY DOLLAR WALMART HOBBY LOBBY
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