Edward A. Benton+ 713 830 2198
REPRESENTATIVE PHOTO
EXCLUSIVE NET-LEASE OFFERING MEMORANDUMDOLLAR GENERAL | DENVER MSA, CO
56951 E. COLFAX AVENUE STRASBURG (DENVER MSA), CO 80136
OFFERING TERMS
Purchase Price NOI CAP Rate
$1,757,900 $109,870 6.25%
REPLACE
FINANCIAL OVERVIEW | 56951 E. COLFAX AVE., STRASBURG (DENVER MSA), CO
INVESTMENT SUMMARY
Tenant Trade Name Dollar General
Location 56951 E. Colfax AvenueStrasburg (Denver MSA) CO,
80136Price $1,757,900CAP Rate 6.25%NOI $109,870Square Feet 9,100 SFLot Size 1.525 acYear Built 2018Corporate/Franchisee CorporateLease Type Absolute NNNRoof & Structure Tenant ResponsibleLease Term 15 YearsLease Commence Early October 2018Lease Expiration Early October 2033Rent Increases In Option Periods Options Three (3) Five (5)-Year periods
INVESTMENT OVERVIEW
> New 2018 construction corporate Dollar General | Upgraded brick construction | S&P BBB rating | Ranked #128 on the Fortune 500 List > Fifteen (15) year absolute NNN lease commencing early October 2018 - no landlord responsibility > Underserved retail market | 30 miles from the nearest Wal-Mart (Aurora, CO) > 39 miles from downtown Denver and 34 miles from Denver International Airport > Dollar General is the country’s largest small-box discount retailer and has achieved 26 consecutive years of same store sales growth | Sales increased 7.9% in 2016 to $21.9 Billion > Amazon resistant retailer experiencing explosive growth | Dollar General plans to open 900 stores for the second year in a row > Dollar General has become a shopping staple across the country with 15,000 stores in 44 states
TENANT OVERVIEW
DOLLAR GENERAL
Dollar General is proud to be America’s neighborhood general store. We make shopping easy and affordable with more than 15,000 convenient, easy-to-shop stores in 44 states delivering everyday low prices on name-brand products that are frequently used and replenished, such as food, snacks, health and beauty aids, as well as cleaning supplies, family apparel, housewares and seasonal items.
Dollar General stands for convenience, quality brands and low prices. Dollar General’s successful prototype makes shopping a truly hassle-free experience. We design small neighborhood stores with carefully edited merchandise assortments to make shopping simpler. We don’t carry every brand and size, just those our customers want the most. Dollar General saves you time by staying focused on life’s simple necessities: laundry detergent, toilet paper, soap, shampoo, socks and underwear…and maybe a gadget or two that you just can’t live without.
Dollar General delivers everyday low prices on seasonal items, housewares, cleaning supplies, health and beauty products, grocery and other perishable items our customers need and replenish most often. In addition to high quality private brands, Dollar General sells products from America’s most-trusted manufacturers such as Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestlé, Kimberly-Clark, Kellogg’s, General Mills, and PepsiCo.
Our private brands provide customers with more options to purchase national brand equivalent products at substantial discounts, and all Dollar General private-label products carry a 100% satisfaction guarantee.
“At Dollar General, our values and our mission are at the core of our success. We have a unique culture of serving others, a rich history and a very bright future.” - Todd Vasos, CEO, Dollar General
Dollar General Continues to Expand, Throws Open 15,000th Store Dollar General Corporation DG recently announced the opening of its 15000th store in Wilmington, NC. Notably, this discount retailer has grown as a reliable partner for many communities across 44 states, which includes 800 stores in North Carolina.
To celebrate this milestone, this Zacks Rank #3 (Hold) company offered the first 500 adult customers $10 gift cards and tote bags, which contain complimentary products.
The company’s focus on store expansion to drive customer count is commendable. In 2017, Dollar General completed the buyout of 285 Acquired Stores. Dollar General is also accelerating the pace of store openings. In the first quarter of fiscal 2018, Dollar General opened 241 new stores, remodeled 322 stores and relocated 31 stores.
Further, the company expects to open 900 stores, remodel 1,000 stores and relocate approximately 100 stores in fiscal 2018. Of the planned remodels, roughly 400 locations are likely to be upgraded to Dollar General Traditional Plus format with a higher cooler count. This is likely to lift comparable sales by 10-15%.
Moreover, Dollar General is focusing on smaller format stores as these require less capital expenditure and will help to cope with space constraint. Response from the company’s DG 16 store format is encouraging.
The company’s compelling store growth story at convenient locations and focus on consumable products lend it an edge over competitors. Dollar General’s commitment toward better pricing, private label offering, effective inventory management, and merchandise and operational initiatives should drive sales and margins. Aligned with these, management anticipates net sales for fiscal 2018 growth of 9% year over year. Further, earnings for the fiscal are envisioned in the band of $5.95-$6.15 per share, up from $4.49 in fiscal 2017.
REPLACE
DOLLAR GENERAL IN THE NEWS | 56951 E. COLFAX AVE., STRASBURG (DENVER MSA), CO
by Zacks Equity Research July 16, 2018
SITE PLAN | 56951 E. COLFAX AVE., STRASBURG (DENVER MSA), CO REVISIONSCHECKED:DRAWN:DWG: D
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1 SIGN FURNISHED AND INSTALLED BY DOLLAR GENERAL CORP.WITH CIRCUIT AS NOTED ON ELECTRICAL PLAN. SIGN TO BECENTERED ON FRONT OF BUILDING. CONTRACTOR IS TOPROVIDE ADEQUATE BLOCKING AS REQUIRED BY SIGNMANUFACTURER TO SUPPORT SIGN WEIGHT OF UP TO 1,400LBS. EXTERIOR CANOPY SIGN SHALL BE SUPPORTED BY THEFACE OF THE CANOPY. COORDINATE THE PROPER SIGNAGETO BE USED WITH DOLLAR GENERAL.
NOT USED.
FLOOD LIGHT 16'-6" A.F.F. AT CENTERLINE OF CONNECTION TOWALL. REFER TO ELECTRICAL DRAWINGS FOR ADDITIONALINFORMATION.
FLOOD LIGHT 12'-0" A.F.F. TO TOP OF WALL PACK. REFER TOELECTRICAL DRAWINGS FOR ADDITIONAL INFORMATION.
WALL PACK 12'-0" A.F.F. TO TOP OF WALL PACK. REFER TOELECTRICAL DRAWINGS FOR ADDITIONAL INFORMATION.
WALL PACK 16'-6" A.F.F. TO TOP OF WALL PACK. REFER TOELECTRICAL DRAWINGS FOR ADDITIONAL INFORMATION.
TRIM/COPING/FLASHING- COLOR AS NOTED.
GUTTER AND DOWNSPOUT - COLOR AS NOTED.
STANDING SEAM METAL ROOF. GALVALUME FINISH.
NOT USED.
PRE-FINISHED METAL WALL PANELS. PROVIDE TAMPER-RESISTANT FASTENERS FOR BOTTOM 8'-0". COLOR TO BE"LIGHT STONE". IF ALTERNATE IS REQUIRED, COLOR TO BE SW7037 "BALANCED BEIGE".
DOOR BUZZER. REFER TO E1 FOR ADDITIONAL INFORMATION.
NOT USED.
HVAC UNITS MOUNTED ON ROOF. REFER TO MECHANICALSHEET M1 FOR MORE INFORMATION.
MINIMUM EAVE HEIGHT IS 14'-0" A.F.F.
OUTSIDE AIR TEMP. SENSOR MOUNTED OVER RECEIVINGDOORS @ 8'-0" A.F.F.
ELEVATION KEYED NOTES
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IN NORTHERN CLIMATES, PROVIDE SNOW GUARDS ON ROOFPER LOCAL CODE.
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FINISHED GRADE AT EXTERIOR WALLS SHALL BE A MINIMUM OF6" BELOW FINISHED FLOOR AT ALL NON PAVED AREAS.
METAL CANOPY BY PRE-ENGINEERED METAL BUILDINGMANUFACTURER. (ONLY APPLICABLE TO C & D PROTYPES)
21
4" SMOOTH FACED ECONOMY SIZED (4"X4"X8") BRICK, PAINTED.COLOR AS NOTED.
1/2" DIAMETER x 6" LONG STAINLESS STEEL EYE BOLTS(CLOSED) WITH 1" DIAMETER OPENINGS. DRILL AND EPOXYINTO BLOCK WALL. 4 BOLTS TO BE LOCATED AS SHOWN EACHSIDE OF ENTRY, TOTAL OF 8 BOLTS.
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VENT FOR BATHROOM EXHAUST. REFER TO M1 FORADDITIONAL INFORMATION. EXTEND EXTERIOR PLUMBINGVENT TO ROOF LINE AND PAINT TO MATCH BUILDING.
9B 4" SMOOTH FACED ECONOMY SIZED (4"X4"X8") BRICK, PAINTED.COLOR TO BE SW7041 "VAN DYKE BROWN". SOLDIER COURSE.
A2
A21
SCALE: 1/8" = 1'-0"FRONT ELEVATION
A22
SCALE: 1/8" = 1'-0"REAR ELEVATION
A24
SCALE: 1/8" = 1'-0"LEFT ELEVATION
A23
SCALE: 1/8" = 1'-0"RIGHT ELEVATION
MORTAR AND GROUT1. MORTAR MATERIALS: A. MORTAR FOR MASONRY: ASTM C270, PORTLAND CEMENT/ HYDRATED LIME. B. WATER: DRINKABLE. C. ADMIXTURES NOT ALLOWED UNLESS APPROVED BY ENGINEER.2. MORTAR MIXES: A. MORTAR FOR REINFORCED MASONRY: ASTM C270, TYPE S. B. MORTAR FOR MASONRY VENEER AND NON-BEARING WALLS AND PARTITIONS: ASTM C270, TYPE N.3. MORTAR MIXING: A. THOROUGHLY MIX MORTAR INGREDIENTS, OF CONSISTENT MOISTURE LEVELS, IN QUANTITIES NEEDED FOR IMMEDIATE USE IN ACCORDANCE WITH ASTM C270. MAINTAIN SAND UNIFORMLY DAMP IMMEDIATELY BEFORE MIXING. B. DO NOT USE ANTI-FREEZE COMPOUNDS TO LOWER THE FREEZING POINT OF THE MORTAR. C. IF WATER IS LOST BY EVAPORATION, RETEMPER ONLY WITHIN TWO HOURS OF MIXING. USE MORTAR WITHIN TWO HOURS OF MIXING.4. GROUT: ASTM C476; 8-10 INCH SLUMP; PREMIXED TYPE IN ACCORDANCE WITH ASTM C94 OR SITE MIXED IN ACCORDANCE WITH ASTM C476 FOR COARSE GROUT. THOROUGHLY MIX GROUT, OF CONSISTENT MOISTURE LEVELS, IN QUANTITIES NEEDED FOR IMMEDIATE USE IN ACCORDANCE WITH ASTM C270. MAINTAIN SAND UNIFORMLY DAMP IMMEDIATELY BEFORE MIXING. DO NOT USE ANTI-FREEZE COMPOUNDS TO LOWER THE FREEZING POINT OF THE MORTAR.
CONCRETE UNIT MASONRY1. MATERIALS: A. CONCRETE MASONRY UNITS: NORMAL WEIGHT BLOCK CONFORMING TO ASTM C90, GRADE N, TYPE 1 WITH A MINIMUM NET AREA COMPRESSIVE STRENGTH OF 1900 PSI. B. REINFORCEMENT AND TIES: 1. BARS ARE TO CONFORM TO ASTM A615, GRADE 60, UNLESS NOTED OTHERWISE. 2. JOINT REINFORCEMENT: LADDER TYPE, GALVANIZED, WITH A SINGLE PAIR OF 9 GAUGE SIDE RODS AND 9 GAUGE CROSS RODS FABRICATED FROM COLD-DRAWN STEEL WIRE COMPLYING WITH ASTM A82. JOINT REINFORCING SHALL BE SPACED AT 16" O.C. VERTICALLY IN ALL MASONRY WALLS.2. INSTALLATION: A. GENERAL: 1. COLD WEATHER REQUIREMENTS: IMIAC RECOMMENDED PRACTICES AND GUIDE SPECIFICATIONS FOR COLD WEATHER MASONRY CONSTRUCTION, LATEST EDITION. 2. SEE ARCHITECTURAL DRAWINGS FOR LOCATIONS OF VERTICAL CONTROL JOINTS. HORIZONTAL BOND BEAM AND LINTEL REINFORCING SHALL BE CONTINUOUS ACROSS VERTICAL CONTROL JOINTS. JOINT REINFORCING SHALL BE STOPPED EITHER SIDE OF VERTICAL CONTROL JOINTS. 3. PROVIDE VERTICAL REINFORCEMENT EACH SIDE OF CONTROL JOINTS AND AT LOCATIONS SHOWN ON FOUNDATION PLAN. 4. PROVIDE HORIZONTAL BOND BEAM WITH (1)-#5 BAR @ 10'-0" O.C. MAXIMUM SPACING UNLESS NOTED OTHERWISE. 5. ALL BOLTS, ANCHORS, ETC., INSERTED IN THE WALLS, SHALL BE GROUTED SOLID INTO POSITION. B. ENGINEERED MASONRY: 1. MINIMUM COMPRESSIVE STRENGTH, f'm, OF 1500 PSI. 2. ALL REINFORCED CELLS, ALL CELLS BELOW GRADE AND ALL CELLS BELOW FINISH FLOOR SHALL BE GROUTED SOLID. 3. WHEN A FOUNDATION DOWEL DOES NOT LINE UP WITH A VERTICAL BLOCK CORE, IT SHALL NOT BE SLOPED MORE THAN ONE HORIZONTAL IN 6 VERTICAL. DOWELS MAY BE GROUTED INTO A CELL IN VERTICAL ALIGNMENT, EVEN THOUGH IT IS IN AN ADJACENT CELL TO THE VERTICAL WALL REINFORCING. 4. REINFORCING STEEL SHALL BE SECURED IN PLACE BEFORE GROUTING STARTS. 5. SPLICED REINFORCING SHALL BE LAPPED 48 BAR DIAMETERS OR 24 INCHES, WHICHEVER IS GREATER. 6. VERTICAL BARS SHALL BE HELD IN POSITION AT 48" MAX WITH VERTICAL BAR POSITIONERS AT TOP OF BOTTOM COURSE AND BOTTOM OF TOP COURSE AND AT INTERVALS NOT EXCEEDING 200 DIAMETERS OF THE REINFORCING, NOR 10 FEET. BARS SHALL BE IN PLACE PRIOR TO GROUTING. 7. VERTICAL REINFORCING BARS SHALL HAVE A MINIMUM CLEARANCE OF 3/4" FROM THE MASONRY AND NOT LESS THAN ONE BAR DIAMETER BETWEEN BARS. 8. VERTICAL CELLS THAT WILL BE GROUTED SHALL HAVE A VERTICAL ALIGNMENT TO MAINTAIN A CONTINUOUS UNOBSTRUCTED CELL AREA NOT LESS THAN 3"x4". 9. GROUTING SHALL BE STOPPED 1 1/2" BELOW THE TOP OF A COURSE SO AS TO FORM A KEY AT THE POUR JOINT. 10. GROUTING OF MASONRY BEAMS OVER OPENINGS SHALL BE DONE IN ONE CONTINUOUS OPERATION.
PAINT ALL EXTERIOR ELECTRICALCONDUITS TO MATCH BUILDING.
ELEVATIONS | 56951 E. COLFAX AVE., STRASBURG (DENVER MSA), CO
AERIAL | 56951 E. COLFAX AVE., STRASBURG (DENVER MSA), CO
STRASBURGHIGH SCHOOL
STRASBURGELEMENTARY SCHOOL
COLORADO AERIAL | 56951 E. COLFAX AVE., STRASBURG (DENVER MSA), CO
Strasburg, CO
39 MILES FROM DOWNTOWN DENVER
28 MILES FROM DENVER AIRPORT
LOCA
TION
OVE
RVIE
W
Population
Household Income
Employment
The estimated average household income within a one mile radius from this property for 2018 is $99,377 and is projected to be $102,733 by 2023. The current per capita income is estimated at $35,285.
The estimated 2018 labor force within a 5 mile radius is made up of 3,610 people over age 16 with 151 businesses. 52.7% of the work force are white collar workers. The average travel time to work is 36 minutes.
The estimated 2018 population within a 5 mile radius from the subject property is 4,726 people with an estimated 1,625 households. The projected current population is made up of 50.4% males and 49.6% females. The median age is 39.
POPULATION1 - Mile 3 - Miles 5 - Miles
Est. 2018 1,787 4,085 4,726
Proj. 2023 1,942 4,437 5,132
2018 AVERAGE HOUSEHOLD INCOME1 - Mile 3 - Miles 5 - Miles
Est. 2018 $99,377 $102,733 $102,917
Proj. 2023 $112,286 $116,382 $116,615
TOP INDUSTRIES IN DENVER MSA, CO
Top 5 Key Industries by Employment
Denver International Airport
HealthONE Corporation
Lockheed Martin
Centura Health
SCL Health Systems
DEMOGRAPHICS | 56951 E. COLFAX AVE., STRASBURG (DENVER MSA), CO
limiti
ng c
ondi
tions
EXCLUSIVELY LISTED BY:
Edward A. BentonVice President
+ 713 830 [email protected]
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2016. All rights reserved.
CONFIDENTIALITY & DISCLAIMER STATEMENT
This Offering Memorandum contains select information pertaining to the business and affairs of the Property at 56951 E. Colfax Avenue, Strasburg, CO 80136. It has been prepared by Colliers International. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Colliers International. The material is based in part upon information supplied by the Seller and in part upon financial information obtained by Edward A. Benton from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.
By acknowledging your receipt of this Offering Memorandum from Edward A. Benton you agree:
1) The Offering Memorandum and its contents are confidential;2) You will hold it and treat it in the strictest of confidence; and3) You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.
Owner and Colliers International expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered. If you wish not to pursue negotiations leading to the acquisition of 56951 E. Colfax Avenue, Strasburg, CO 80136 or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.
A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Colliers International or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.
This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.
excl
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REPRESENTATIVE PHOTO
Edward A. Benton+ 713 830 2198
